Dogecoin (DOGE) Rebounds as Open Interest Surges, Eyeing $0.30 Breakout

Dogecoin (DOGE), the original meme coin, is showing signs of renewed strength as October trading kicks off on a bullish note. The asset has not only recovered from recent market volatility but also sparked a surge in investor confidence, with open interest data signaling a potential breakout.

According to CoinGlass, Dogecoin’s open interest climbed 2.89% in the past 24 hours, bringing the total to 16.38 billion DOGE valued at roughly $3.96 billion. This surge highlights growing participation in the derivatives market, with traders increasingly positioning themselves for a possible price rally. Historically, October has been a favorable month for Dogecoin, averaging an 11% growth rate, further fueling optimism for what many traders are calling an “Uptober rally.”

The recent rebound above the $0.24 level appears to have triggered the bullish momentum. Investors are betting that DOGE could reclaim the critical $0.30 resistance level, which has remained unbroken since February 2025. Each attempt to surpass this threshold has met with rejection, but rising open interest suggests traders are preparing for another test. A decisive move above $0.30 could open the door for a stronger bullish trend, reinforcing sentiment across the market.

With billions of DOGE locked into futures contracts, traders are signaling confidence in sustained upward momentum. The combination of seasonal growth patterns, heightened investor activity, and improving technical conditions is strengthening the case for a continued rally. If bulls manage to push past $0.30, Dogecoin could secure its next leg up, making October a pivotal month for the meme-inspired cryptocurrency.

As excitement builds, Dogecoin investors are closely watching price action, eager to see whether this rally will finally deliver the long-awaited breakout.