Comprehensive Analysis: Dogecoin Price Trends and Market Dynamics
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Dogecoin’s Price Surge Amidst Bitcoin’s Ascent
Dogecoin has recently experienced a notable uptrend, coinciding with Bitcoin’s aggressive pursuit of its historical peak. The breakthrough of the $110,000 mark ignited an altcoin rally, which saw Ethereum’s price soar by 10% within a single day. Consequently, Dogecoin mirrored this trend with a more than 5% increase. However, the trading volume for this meme-based cryptocurrency has not met expectations, indicating a possible lack of investor engagement during this period.
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Dogecoin Trading Volume Remains Subdued
Despite Dogecoin’s upward movement towards the $0.2 mark, its trading volume has not witnessed a significant surge. Currently, it remains below levels observed in May and aligns with figures recorded during the market downturn. This suggests that Dogecoin’s price movement may be more reflective of broader market trends rather than being driven by intrinsic factors.
Analysis from Coinglass reveals that Dogecoin’s daily trading volume continues to hover below the $5 billion threshold. This is a stark contrast to periods of rapid market recovery when DOGE trading volumes exceeded this figure. For example, in February, Dogecoin’s daily trading volume surpassed $10 billion amidst market challenges. Similarly, in May 2025, the meme coin once again crossed the $10 billion threshold as the market rebounded, and DOGE climbed above $0.25.
In the current month of June, Dogecoin’s trading volume has yet to reach the $10 billion mark, even after several weeks. The peak daily volume thus far was $5.89 billion on June 6, primarily driven by short sellers as market conditions deteriorated.
Stagnant Open Interest in Dogecoin
In parallel with trading volume trends, Dogecoin’s open interest has also shown little movement. Since the beginning of the month, open interest has maintained stability, averaging around $2 billion daily. This indicates that cryptocurrency traders are not actively opening new positions, possibly adopting a wait-and-see approach as they anticipate market developments.
As of June 11, Dogecoin’s open interest was recorded at $2.11 billion, a decline from the $2.5 billion average noted towards the end of May.
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