Dogecoin Eyes $0.50 as Traders Pour $3B into Bets—Because Meme Coins Are Clearly the Future of Finance

Dogecoin’s open interest just smashed past $3 billion—proof that nothing fuels a market rally like internet jokes and reckless optimism.

Price targets now hover around $0.50, a level that would make early Shiba Inu meme sharers very rich (and traditional finance bros very confused).

Meanwhile, Wall Street still thinks ’blockchain’ is a type of gym equipment.

Dogecoin price chart The ongoing recovery is also testing the $0.25 supply zone, which acts as the neckline of an inverted head-and-shoulders pattern. This multi-month pattern suggests a potential 95% surge upon breakout, calculated by adding the depth of the pattern to the breakout point. Notably, the 50% Fibonacci retracement level at $0.2566 closely aligns with the neckline, strengthening the case for a bullish breakout. The 50-day and 100-day EMAs are converging, suggesting a possible bullish crossover. The proximity of the 200-day EMA also hints at a potential golden crossover. Moreover, the daily RSI is approaching the overbought zone, indicating strong bullish momentum. DOGE Price Targets Based on Fibonacci levels, the triangle breakout rally will likely surpass the 100% extension at $0.4679 and target the psychological $0.50 level. The uptrend could further extend to $0.64, as projected by the 1.272 Fibonacci extension level. Conversely, failure to break above the neckline could lead to a retest of the 38.2% Fibonacci level at $0.2227. This would likely invalidate the bullish pattern and could extend the pullback toward the 50-day EMA near $0.20. Bulls Dominate dogecoin Derivatives As Dogecoin stands at a critical juncture with the potential for a 2x rally, anticipation in the derivatives market has surged. The Dogecoin funding rate has risen to 0.0152%, indicating strong bullish activity.

DOGE Derivatives Open interest in Dogecoin has increased by over 7%, surpassing the $3 billion mark. This highlights robust trader participation amid growing bullish sentiment. Finally, the 12-hour liquidation data shows a $5.47 million loss, with short liquidations accounting for $3.6 million, further suggesting a bullish bias. A similar figure is visible on the 24-hour timeframe. This data indicates a strong possibility of a new, leverage-driven rally in the meme coin.