The open interest for Dogecoin has reached a new six-month high, indicating a surge in investor interest in the meme coin. The open futures interest has risen from $240 million in August to $625 million in December, suggesting that more investors are betting on the price of Dogecoin. This increase in open interest has historically been followed by a price increase, and Dogecoin has followed this pattern once again. Since the initial report, the price of Dogecoin has risen from $0.084 to $0.1 before correcting downward. However, it is important to note that in the past, a spike in open interest has also been followed by a decline in price. Currently, Dogecoin’s open interest is already seeing a decline, which could indicate a more bearish trend. If this continues, the price of Dogecoin could return to $0.08. On the other hand, if the bullish trend holds, Dogecoin could experience a 100% rally and reach a price of nearly $0.2. It will be interesting to see how the market unfolds for Dogecoin in the coming days.