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Dogecoin (DOGE) open interest declines to 1.42 billion USD amidst bearish trends

As of December 24, 2024, Dogecoin’s open interest fell to 1.42 billion USD, signaling diminished trader confidence. This decline correlates with a significant 20% pullback in DOGE prices, indicating a bearish market sentiment.

The Mean Dollar Invested Age for DOGE is increasing, suggesting holders are inactive, which could drive prices down to 0.27 USD if these bearish trends persist. A recovery might occur if DOGE regains support around 0.35 USD.

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