Dogecoin targets $0.093 as derivatives volume jumps 81.86%

  • Dogecoin is targeting $0.093 after bouncing twice from an ascending-channel trendline.
  • Derivatives volume rose 81.86% to $1.27 billion, while open interest reached $1.26 billion.
  • Traders are awaiting Tuesday's CLARITY Act vote and Wednesday's FOMC decision.

Dogecoin was trading near $0.0848 on September 14 after twice bouncing from the lower boundary of an ascending channel, with analyst Trader Tardigrade identifying $0.093 as the next target. DOGE was up about 1% at $0.0847 according to TradingView, while its derivatives volume climbed 81.86% to $1.27 billion. Open interest fell 1.63% to $1.26 billion, indicating heavier contract trading without growth in total open leveraged positions. Options volume rose 143% to $952.1 and options open interest increased 143.33% to $954,430, although the volume figure appeared unusually low and may be unreliable. The broader crypto market rose 1.32% to $2.65 trillion, with Bitcoin above $79,000, Ethereum around $2,532 and XRP at $1.44 as of 8:04 PM UTC, according to CoinMarketCap. Traders are now focused on Tuesday's CLARITY Act vote and Wednesday's Federal Open Market Committee decision, both of which could increase market volatility.

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