Dogecoin investors are still optimistic despite the low prices, as they adhere to about $ 3.42 billion for the derivative market

In the face of price declining by approximately 4 % last week, Dokwin (Crypto: DodgeInvestors have shown steady attention, or poured more than 15 billion dusks, or about 3.42 billion dollars, in the derivative market during the past 24 hours.

What happened: A great open interest in Dogecoin, referring to bullish feelings among investors. Open benefit is a measure of the total value of the active futures contracts due to the investors to Dogecoin.

Data From Coinglass explains that the Gate investors were at the forefront, with the total open interest of 3.29 billion dusks, at a value of 750.20 million dollars.

This represents 21.92 % of the total open interest. Binance was ranked second with 20.13 %, with investors committed 3.03 billion dusks, at a value of approximately 688.92 million dollars.

Bybit, OKX, and Bitget collected the first five, with relevant obligations of 2.05 billion dusks, 1.71 billion dusk and 1.58 billion dusks. The value of these obligations is 467.01 million dollars, 388.56 million dollars and 358.71 million dollars in Fiat.

Also read: ScelCoin Sear increased by 2600 % and the market ceiling was worth $ 1 trillion, says this encryption analyst

In addition to the high open interest, there was an increase in the activity of whales, as a large holder transferred 400 million dusks from Robinhood, indicating potential accumulation movements in anticipation of an upper gathering.

Despite the last decrease in the price, open interest numbers ignite the hopes of potential recovery. If Dogecoin bounces, the market participants are likely to set their scenes at the price level of $ 0.30, and its artistic index was previously hurt.

Why do it matter.

This bullish feelings, along with a large amount of capital committed to the derivative market, indicate that investors put themselves in a possible gathering in the near future.

The movement of a large amount of Dog of Robinhood increases the feeding of these speculation, which alludes to the potential accumulation movements in anticipation of the increase in prices.

Read after that

The analyst predicts a 200 % increase in this opponent Dogcoin and Shiba Inu

Photo: Shutterstock/alfernec

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