• Dogecoin price crossed $0.36 on Tuesday, outperforming rivals SHIB and PEPE with 13% gains over the past X days. 
  • Dogecoin open interest crossed $3.8 billion as traders piled on $570 million new long positions in the last three days. 
  • With Trump’s inauguration 1 week away, DOGE appears poised for more upside as bullish speculators hold sway. 


Dogecoin price crossed $0.36 on Tuesday, outperforming rivals SHIB and PEPE with 13% daily timeframe gains. With Trump’s inauguration 1 week away, DOGE appears poised for more upside as bullish speculators holdsway. 

Dogecoin price breaches $0.35 resistance as Trump bets swings market traders 

Dogecoin (DOGE) surged past the $0.36 resistance level on Tuesday, posting a 13% gain within 24 hours and outpacing rival memecoins like Shiba Inu (SHIB) and PEPE. The price rally comes as speculative fervor builds ahead of former President Donald Trump’s upcoming inauguration, which has captivated a segment of crypto traders betting on market volatility.

Dogecoin Price Action | DOGEUSDT

The rally reflects a shift in sentiment, with bullish traders seizing control following DOGE’s earlier consolidation near $0.33.

Renewed retail interest and social media-driven enthusiasm could propel the meme coin further, especially as sentiment around major macroeconomic risks eases. 

At press time, Dogecoin is trading at $0.36, holding firmly above key support levels.

Should momentum persist, the cryptocurrency could target the $0.40 mark in the coming sessions, marking a significant recovery from earlier lows this month.

Dogecoin Open Interest Surges $570M in 3-days

Despite a period of price consolidation last week, traders continued to place speculative bets on Dogecoin. This suggests that strategic Dogecoin traders are preparing for potential bullish triggers linked to upcoming events. 

Affirming this stance, Coinglass open interest chart below tracks the capital flows towards DOGE perpetual futures contracts. 

Dogecoin Open Interest vs. DOGE Price | Source: Coinglass

As depicted above, Dogecoin has witnessed a remarkable surge in open interest, with $570 million in new positions added over the past three days.

This brings the total open interest in DOGE futures contracts to $3.81 billion as of January 14, according to data from Coinglass. 

The 15% increase in open interest, outpaces the 10% gains seen in DOGE's spot prices, indicating that leveraged traders are betting on further upside.

Historically, when open interest grows faster than price during a rally, it reflects traders’ willingness to hold positions rather than take profits, suggesting confidence in additional upward momentum.

This dynamic could propel DOGE toward the $0.40 resistance level in the coming days.

Dogecoin Price Forecast: $0.40 breakout could trigger further gains

Dogecoin's current price action displays notable bullish momentum, with the token trading at $0.3568, breaking above the Volume-Weighted Average Price (VWAP) level of $0.3516.

This technical signal highlights increased buying support as the market regains confidence following the recent $570 million surge in open interest. 

The Keltner Channel's upper band at $0.4007 represents a critical resistance level, and a successful breakout could propel DOGE toward a sustained rally.

Dogecoin Price Forecast (DOGEUSD) | TradingView

From a bullish perspective, the recent climb above the VWAP indicates institutional buying pressure, supported by strong open interest growth.

Should DOGE breach the $0.4007 resistance, traders could see further gains toward the $0.45 level, driven by a compounding effect of leveraged long positions.

Additionally, the Accumulation/Distribution Line (ADL) at 1,573 suggests steady capital inflows, underpinning the likelihood of sustained upward momentum.

Conversely, bearish risks remain if DOGE fails to hold above $0.35, potentially triggering profit-taking or liquidation of leveraged positions.

A reversal toward the Keltner Channel midline at $0.3469 could signal weakening demand, pushing prices into a consolidation phase.
 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

XRP Price Prediction: How Ripple's alignment with the $18.9T tokenization boom could impact XRP

XRP Price Prediction: How Ripple's alignment with the $18.9T tokenization boom could impact XRP

Ripple (XRP) approached the critical $2.00 level during the Asian session on Friday after a minor correction the previous day reinforced higher support at $1.95.

More Ripple News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC and ETH show weakness while XRP stabilizes

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC and ETH show weakness while XRP stabilizes

Bitcoin (BTC) and Ethereum (ETH) prices are hovering around $80,000 and $1,500 on Friday after facing rejection from their respective key levels, indicating signs of weakness. Meanwhile, Ripple (XRP) broke and found support around its critical level.

More Cryptocurrencies News
Can Trump's tariff pause and declining inflation keep Bitcoin afloat? Experts weigh in

Can Trump's tariff pause and declining inflation keep Bitcoin afloat? Experts weigh in

Bitcoin (BTC) dived below $80,000 on Thursday despite US Consumer Price Index (CPI) data coming in lower than expected and President Donald Trump's 90-day reciprocal tariffs pause on 75 countries.

More Bitcoin News
Bitcoin miners scurry to import mining equipment following Trump's China tariffs

Bitcoin miners scurry to import mining equipment following Trump's China tariffs

Bitcoin (BTC) miners are reportedly scrambling to import mining equipment into the United States (US) following rising tariff tensions in the US-China trade war, according to a Blockspace report on Wednesday.

More Bitcoin News
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP