Dogecoin (DOGE) has seen a significant 10% increase today, reaching a trading price of $0.40549, its highest since mid-December 2024. This rise is part of a broader rally in the memecoin sector, coinciding with bullish sentiment from other memecoins like Shiba Inu and Pepe, which have also posted notable gains. The total memecoin market cap increased by 8.6% in 24 hours. The bullish trend is supported by a 9% spike in Dogecoin's open interest (OI), suggesting strong market momentum as traders anticipate further price increases. Additionally, Dogecoin is displaying a bull flag pattern, which could signal an upward trajectory towards a potential target of $1.75, representing new all-time highs. Analysts see ongoing bullish momentum, with a key support level around $0.35, and technical indicators like the RSI supporting the likelihood of further gains.

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