Dogecoin (DOGE) has exited its consolidation pattern, indicating that it has not yet reached the peak of its gains. Open trading volume is still on the rise, and major investors have not sold it even after two days of solid gains. For this reason, Dogecoin’s price at the beginning may be setting up a very strong bullish move. At the time of writing this report, Dogecoin was trading at $0.106, recording weekly gains of 12%.

Dogecoin futures showed a buying bias as whales shifted toward a bullish trend
According to the Coinglass platform, Dogecoin saw a notable increase in open interest (OI), jumping from $253 million to $433 million in just one week. Looking at previous data, the magnitude of this jump is clear. On February 9, open interest was only $175 million, but now it has reached its highest level in nearly four months.

However, open interest alone is not enough to predict a rise in Dogecoin’s price. The market is considered bullish only if the price is rising, which is already happening. Over the past two days, Dogecoin’s price has risen from $0.099 to $0.106 at the time of writing this report. Yesterday, it briefly reached $0.112.

An analysis conducted by CoinGape indicated that meme coins are only rising right now, which could explain what is happening with Dogecoin.

Based on what is happening on Hyperliquid, it cannot be confirmed that the main accounts are unbiased. They have only entered buy positions for the past two days, and they have opened buy bets worth $14 million.

This now shows that whales are not pessimistic at all, even after the recent rise. They still expect Dogecoin’s price to go up again