Dogecoin Price Targets $0.093 as DOGE Open Interest Hits $1.26B.
Dogecoin price traded near $0.0848 as rising derivatives activity and an improving technical setup kept the $0.093 resistance target in focus.
DOGE gained about 1% on September 14 as the broader crypto market rose 1.32% to $2.65 trillion. Bitcoin traded near $78,905, Ethereum hovered around $2,532, and XRP reached $1.44 as investors positioned ahead of the Senate’s CLARITY Act vote and Wednesday’s Federal Reserve decision.
A crypto analyst identified $0.093 as Dogecoin’s next major upside target based on its four-hour chart. DOGE recently recorded a second rebound from the lower boundary of an ascending channel, reinforcing the bullish structure. A continued move toward the channel’s upper trendline could bring $0.093 into play.
Technical indicators also showed early signs of improving momentum. The four-hour MACD histogram moved slightly positive to 0.00018, suggesting bearish pressure was easing. However, the MACD line remained below zero, meaning a stronger bullish reversal has yet to be confirmed.
Meanwhile, the Chaikin Money Flow climbed to 0.01, signaling modest buying pressure. A four-hour close above $0.09 could strengthen the Dogecoin price outlook and potentially open the door to $0.095. Beyond that, DOGE could retest its August peak near $0.10.
On the downside, $0.079 remains an important support level. A breakdown below this area could expose Dogecoin to further declines toward $0.075 and potentially $0.070.
Derivatives activity increased sharply as traders prepared for potential volatility. Dogecoin derivatives volume jumped 65.06% to $1.17 billion, while open interest slipped 1.63% to $1.26 billion. The combination suggests higher trading activity without a corresponding increase in outstanding leveraged positions.
Options activity also accelerated, with volume reportedly surging 593% and options open interest rising 143.33% to $954,430. However, the reported options volume of $566.62 appears unusually low and may warrant caution.
With major U.S. regulatory and monetary policy events approaching, Dogecoin’s ability to clear $0.09 could determine whether bulls can extend the recovery toward $0.093 and $0.10.