Dogecoin Surge Triggers Warning Signs for Traders

Dogecoin's price has been on the rise in recent days, breaking through the $0.10 threshold and reaching new heights above $0.11. This surge has caught the attention of traders, who are closely watching one potential risk that could flip the rally.

Futures open interest has been climbing, with a 33% increase in just five days, according to data from CryptoQuant's Maartun. This indicates a high level of leverage in the market, which can make it vulnerable to sudden reversals if momentum dries up.