The open interest of #DOGE remains above $3 billion, and market attention is still high. Although the open interest decreased by 40% from the peak of $5.35 billion in July, there are clear signs of a rebound in August, with prices rising accordingly.

Historical data shows that high open interest is often accompanied by rising prices, and recent performance is no exception.

Looking back at August, Dogecoin's overall performance was quite volatile, with the number of closing declines exceeding previous years, but recently there has been about a 7% rebound.

If #BTC and #ETH continue to strengthen, Dogecoin is expected to rise in sync, potentially recreating the strong market after Bitcoin's halving in 2021. Whether the bulls can take control of the situation still depends on the overall market direction and investor confidence.