TLDR:
- Dogecoin gained 4.87% as a derivatives squeeze pushed DOGE toward the $0.095 resistance zone.
- DOGE open interest jumped 8.5% in one hour to $282 million during the short liquidation wave.
- Dogecoin must hold $0.0813 to preserve its current structure and avoid a potential move toward $0.075.
- The September 11 U.S. CPI report could become the next major catalyst for DOGE price action.
Dogecoin jumped 4.87% in 24 hours to $0.0902, sharply outperforming Bitcoin and the broader crypto market. The move came as leveraged DOGE positions unwound, pushing the meme coin higher during a sharp derivatives-driven rally.Â
DOGE has also gained about 6% over the past week, extending its recent recovery despite broader market movements. Traders now face a key test around $0.088, while $0.0813 remains an important support level for Dogecoin.
Dogecoin Price Rises as Short Squeeze Drives DOGE Higher
CoinMarketCap data shows Dogecoin added 4.87% over 24 hours, while Bitcoin gained only 0.38%. The wider crypto market rose 0.87%, leaving DOGE among the stronger performers during the latest session.
The immediate catalyst came from the derivatives market, where DOGE open interest surged 8.5% within one hour. Open interest reached $282 million as short positions faced forced liquidations during the rapid price advance.
Technical signals added further support to the move, according to the supplied market data. DOGE formed a golden cross on its hourly chart, while its daily chart produced a morning doji star pattern.
Alex Marzell also tracked the move on X, noting DOGE’s recovery after Friday’s U.S. jobs report triggered an earlier decline. His chart showed DOGE holding around $0.083 through six flat four-hour candles before a sharp breakout.
Dogecoin Technical Outlook Puts $0.088 Support in Focus
The four-hour move pushed DOGE from roughly $0.0876 toward $0.0952 in a single candle.
Marzell’s analysis identified $0.088 as former resistance that could now serve as support.
Holding that level would keep the recent breakout structure intact, while a failure could weaken the setup. CoinMarketCap data places the next major downside support at $0.0813, with $0.075 below that level.
DOGE’s recent momentum has also drawn attention to developments beyond price action. X user Sweep pointed to DogeOS, an EVM-compatible application layer designed to use DOGE for transaction fees.
Sweep also cited DOGE-1’s targeted launch this month, DOGE payments across more than 6,000 merchants, and the planned DOGE Pay rollout. The post also referenced House of Doge becoming public and ETF access for Dogecoin.
For the broader market, the next major scheduled catalyst arrives with the U.S. CPI report on September 11. Until then, DOGE traders will watch whether the token can defend $0.088 and retain its recent breakout.
The post Dogecoin Price Surges as Short Squeeze Sends DOGE Toward $0.10 appeared first on Blockonomi.
Â
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.