Dogecoin Whales Bet Big on Meme Coin Price Rise

Dogecoin (DOGE) is experiencing a surge in price, rising by 12% to trade at $0.095 as of September 21.

This gain has prompted whales to open long positions on Dogecoin, with four addresses opening positions worth 78.2 million DOGE ($5.59 million).

The long/short reading for Dogecoin on Binance and OKX has risen to 2.30 and 2.65 respectively, indicating more long accounts than short accounts.

Dogecoin's open interest has also climbed to a one-month high of $1.57 billion, with the Binance exchange recording the biggest uptick in Dogecoin's open interest.