Dogecoin Price Surges on DOGEOS Testnet Launch and Broader Market Recovery
Dogecoin (DOGE) is trading higher on Friday, extending gains above $0.097 as the broader cryptocurrency market recovers with Bitcoin (BTC) rising above $86,000. This comes after the launch of DOGEOS's public testnet on Wednesday, which focuses on zero-knowledge rollups and smart contracts.
The meme coin is seeing a 4% growth in its futures Open Interest over the last 24 hours, indicating firm retail support. CoinGlass data shows DOGE futures Open Interest up 4% in 24 hours to $1.53 billion, with the funding rate rising to 0.0101%.
This indicates strong demand among traders for long positions at a premium, reflecting expectations of further upside. Dogecoin faces opposition at the 50% retracement of the $0.1058 to $0.0911 downswing, at $0.0982, which serves as an overhead supply zone.