The Dogecoin price has been fluctuating and struggling to reach its previous all-time high peaks despite rally attempts and subsequent downturns.
The trading volume of Dogecoin has been low recently, indicating caution among investors and a market that remains unpredictable, especially for meme coins like DOGE.
The Dogecoin derivatives trading volume has significantly declined from its peak in November 2024, currently standing at only $6 billion compared to $60.11 billion back then.
Historically, a rise in derivatives trading volume has correlated with an increase in the Dogecoin price. To surpass $0.7 again, a substantial increase in trading volume above $30 billion may be necessary.