Dogecoin rose 2.53% over 24 hours to $0.101, briefly reclaiming the $0.10 level as derivatives open interest climbed to $1.66 billion. Spot ETF inflows neared $1 million, led by Grayscale's GDOG, while technical indicators point to consolidation near a key resistance zone.
Dogecoin gained 2.53% over 24 hours to reach $0.101, briefly reclaiming the closely watched $0.10 level. The meme coin outpaced Bitcoin, which rose 0.45% over the same period. Momentum followed a Bitcoin-led market rally, while short liquidations added pressure to the advance.
The broader cryptocurrency market gained 0.55%, lifting its total value to $2.93 trillion. Trading volume reached $141.8 billion as Bitcoin hovered near $85,981. Ethereum traded around $2,750, while XRP stood near $1.54. Bitcoin earlier touched $87,000 after breaking above May resistance around $82,814.
Dogecoin Derivatives Activity Surges as Open Interest Rises
The Dogecoin derivatives market recorded stronger trading activity, while options demand moved in the opposite direction. The volume of derivatives increased 72% to 5.42 billion as more traders engaged with DOGE over the period.
Open interest also rose 5.65% to $1.66 billion, meaning traders added new positions rather than closing existing contracts. The volume of options, however, declined 40.77, indicating the broader rise came alongside decreased demand in those contracts. Options open interest increased 4.86% to $459,570, signaling that existing exposure kept expanding during the period.
Spot ETF Inflows Approach $1 Million
The three US spot Dogecoin ETFs recorded $909,650 in combined net inflows on September 21. Grayscale's GDOG led activity with a $1.50 million inflow, offsetting 21Shares' TDOG outflow of $593,310. Bitwise's BWOW reported no daily movement.
Combined trading volume reached $2.31 million, while total net assets stood at $15.14 million. Total inflows increased to $13.29 million, with GDOG holding the largest asset base among the three funds.
Technical Indicators Signal Consolidation Near $0.10
Dogecoin jumped to $0.09961 after breaching the critical $0.095 resistance level. The four-hour formation stays bullish, with DOGE consolidating around the psychological $0.10 level, and the breakout was supported by increased trading volume.
The Relative Strength Index reads 70.13, close to overbought, indicating high momentum but the possibility of a short-lived pullback. The MACD line sits above the signal line with a positive histogram, though weakening histogram bars suggest bullish momentum may be decelerating.
A confirmed break above $0.10 could send Dogecoin toward $0.105, with stronger buying pressure opening a path toward $0.11. Rejection near $0.10 could push the price back toward $0.095, and losing that support would expose the $0.09 region.
Source: CoinGape
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