Dogecoin 27 % rises while Bitcoin climbs towards the highest levels ever

In the last update of the encrypted currency market, Dokwin Dog/Dollar She witnessed a significant increase, touching nearly $ 0.23, and her highest price in months. Concurrent, Bitcoin BTC/USD He approaches his highest level ever.

What happenedDuring the past week, Dogecoin witnessed an increase of approximately 27 %, as it reached a current price of $ 0.225. This includes 9 % in the past 24 hours alone. According to Coingecko DataThis is the highest peak for Dogecoin since March 2.

Along with the price increase, open interest on Dogoin has escalated to its highest levels since mid -February, according to Coinglass. The current open interest is $ 2.52 billion, which is the total value of future contracts that have not yet been settled.

Despite these increases, the numbers are still lower than the summits of each. Dogecoin has reached its highest level at $ 0.73 in 2021 and has not been close to this level since then, as it reached only $ 0.48 in recent months. The open interest of Dog reached $ 5.5 billion in January, but it decreased to $ 1.3 billion due to the decline in the last price.

According to reports, Dogecoin is not the only MI currency that is witnessing great gains this week. Other coins such as Moo Deng (MOODENG) and Peanut Squirrel (PNUT) have seen larger increases, as Mooding was three times in prices this week.

Also read: An unprecedented increase of 400 % in the activity of the Dukwin Network: a bullish step?

Bitcoin is still the main axis of merchants, where the leading Cryptocurrency on the market is recovered by $ 100,000 earlier this week and touched nearly $ 104,000 on Friday. Currently, the price of Bitcoin 103,518 dollars-is just 5 % from its highest level at 108,786 dollars in January to the president on the president Donald TrumpOpening day.

Due to the market height, the daily encryption market qualifiers amounted to $ 1.1 billion as of Friday morning, as Ethereum was responsible for most of the damage – short traders who feel the most pain.

Why do it matterThe last increase in Dogecoin and other metal coins is highlighted by the volatile nature of the encrypted currency market. Despite the great gains, these currencies are still far from their peaks, indicating the possibility of further growth or decline.

The rise in open attention indicates an increase in trading activity and the interest of the investor in these coins. The total market morale, which is driven by factors such as network promotions and political events, is still influencing the price movements of these cryptocurrencies.

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