DOGE Surges 7.7% Amid Crypto Week Momentum, Futures Open Interest Hits $2.83 Billion

Dogecoin (DOGEUSDT) has experienced a notable price increase of 7.70% over the past 24 hours, with the current price at $0.21687 according to Binance data. This upward movement is primarily attributed to bullish momentum across the broader cryptocurrency market, supported by positive developments such as ongoing discussions of crypto-related legislation in the U.S. House of Representatives during "Crypto Week," which has improved overall market sentiment. Additionally, technical factors, including DOGE mirroring the rally of other memecoins and approaching key resistance levels, have contributed to increased trader optimism. The derivatives market reflects this sentiment, with open interest in Dogecoin futures reaching $2.83 billion and high trading volumes indicating strong liquidity. Dogecoin's market capitalization stands at approximately $32.58 billion, ranking it as the eighth largest cryptocurrency, and the asset has posted over 16% gains in the past week.