Dogecoin Nears Ten-Cent Mark as Price Rallies 10% Amid Bitcoin Surge
Dogecoin is on the move again, and its price is getting closer to the coveted ten-cent mark. After a brief pause over the weekend, DOGE resumed its rally on Monday, surging 9.95% in the last 24 hours to $0.093. This increase comes as Bitcoin led the market with a significant price jump above $85,000, reaching levels not seen since late January.
The Dogecoin derivatives activity is also picking up, with open interest rising 16% to $1.49 billion in the last 24 hours, according to CoinGlass data. This spike in trading volume suggests that investors are increasingly optimistic about DOGE's prospects.
To reach its target of $0.1, Dogecoin needs to break above $0.095, a level it stalled at earlier this month. The cryptocurrency also needs to maintain its position above the daily moving average (MA) 200, currently at $0.087.