Dogecoin is gaining strong bullish momentum after its open interest crossed $6 billion, the highest level since December 2024. Market analysts say this signals growing investor confidence and could drive the popular meme coin toward fresh highs.
Technical experts point to a confirmed breakout on the weekly chart. Trader Tardigrade noted that Dogecoin has exited a long-term triangle pattern, creating what he describes as a rare 1:29 risk-to-reward setup that could send DOGE as high as $1.70. Similarly, analyst Ali Martinez highlighted a buy signal from the TD Sequential indicator, urging traders to “buy the dip.”
Institutional interest is also on the rise. Market watchers expect the launch of the first-ever DOGE ETF to spark a wave of capital inflows, much like Bitcoin and Ethereum ETFs did for their markets. Veteran trader Peter Brandt also called Dogecoin’s return above the $0.30 level a “huge breakthrough.”
Data from Coinglass shows that rising open interest alongside price often confirms bullish momentum, as more capital flows into new positions. With open interest above $6 billion, traders believe DOGE could retest $0.30 and extend its rally in the weeks ahead.
On the structural side, Dogecoin Treasury firm CleanCore, led by Elon Musk’s attorney Alex Spiro, has already accumulated more than 500 million DOGE, moving closer to its 1 billion DOGE target. This treasury buildup adds further buying pressure to the market.
With bullish fundamentals, a potential ETF, and the Fed expected to cut interest rates this week, experts agree that Dogecoin is positioned for a significant upward move.Dogecoin, DOGE, crypto rally, DOGE ETF, open interest, meme coin, crypto market
