Dogecoin (DOGE) was trading around $0.083 on the afternoon of the 15th according to CoinMarketCap, and attention is focusing on a forecast that the coin could rise to $0.093, with open interest recorded at $1.26 billion.

■ Overall Cryptocurrency Market on the Rise According to the overseas crypto media outlet CoinGape, the total cryptocurrency market capitalization increased 1.32% to $2.65 trillion. Expectations surrounding regulation reportedly had a positive effect on market sentiment. Looking at individual assets, Bitcoin traded around $78,905, while Ethereum stood at approximately $2,532 and XRP at $1.44, CoinGape reported.

■ Key Events to Watch: 'CLARITY Act Vote and FOMC' Market attention is focused on the CLARITY Act vote scheduled for the following day and the U.S. Federal Open Market Committee (FOMC) decision scheduled for Wednesday (local time). CoinGape reported that positive outcomes from these two events could help Dogecoin's breakout movement. However, it added that price volatility may increase around these events.

■ Technical Analysis: "Target Price $0.093" A cryptocurrency analyst cited by CoinGape set a target price of $0.093 for Dogecoin based on its 4-hour price movement. This outlook came after Dogecoin showed a second bounce off the lower trendline of an ascending price channel. According to CoinGape, Dogecoin is currently moving within an ascending pattern and continues to build support price levels. The analyst predicted that Dogecoin could rise to approximately $0.093, the upper line of the price channel, and CoinGape noted that this price level represents the next major resistance in the current trend.

An ascending price channel forms when price moves between two trendlines that both point upward. CoinGape explained that if the price repeatedly bounces between these trendlines over a long period, the overall trend is likely being maintained technically.

■ What the MACD and CMF Indicators Mean According to CoinGape, Dogecoin's price rose 1% to $0.08470 on September 14 (local time). On the 4-hour chart, the MACD histogram turned slightly positive at 0.00018, indicating weakening downward momentum. However, CoinGape noted that Dogecoin's main MACD lines remain below zero, meaning a price recovery has not yet been confirmed. The Chaikin Money Flow (CMF) rose slightly to 0.01. CoinGape explained that this can be seen as a weak signal of buying pressure, but it is not enough to confirm that an uptrend is continuing.

■ Key Price Levels for Upside and Downside Scenarios Key price levels were also presented regarding the price outlook. According to CoinGape, if Dogecoin closes above $0.09 on the 4-hour timeframe, it could rise to $0.095. If it reaches that price, the outlook is that the high of approximately $0.10 recorded last August (local time) could come back into view. Conversely, if the $0.079 support level breaks down, CoinGape said $0.075 and $0.070 could be the next price levels to watch.

■ Trading Volume Surges in the Derivatives Market Trading increased significantly in the derivatives market. According to data cited by CoinGape, Dogecoin derivatives trading volume rose 65.06% to $1.17 billion. Meanwhile, open interest decreased 1.63% to $1.26 billion despite the volume increase. CoinGape explained this as a trend in which market activity itself increased, but the amount of leverage trading still outstanding did not substantially grow. Options volume surged 593% to $566.62, while options open interest rose 143.33% to $954,430. However, CoinGape added that the reported options volume is unusually low, suggesting there may be an issue with the volume units.

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