The data show that most Binance traders with Dogecoin open positions pass long, which indicates strong bull moods.
This month, activity in the Dogecoin market revealed a rise in prices after President Trump stopped tariffs for the relevant countries on April 9. After the start of the month with fluctuations, inspired by the memorial by the cryptor reached the maximum on April 13, about 0.168 dollars.
However, since then, the price entered the consolidation phase and began to retreat, correcting up to $ 0.1541 by April 16. This price is 3.33% decrease over the past 24 hours, but by 7.43% over the past seven days.
Traders support bull bets
At the height of this Coinglass correction data Since April 16, it has shown significant preferences among Binance merchants for long positions in Dogecoin. In particular, 74.4% of the accounts had a long one, and only 25.6% occupied short positions in a four -hour window.
This much-short ratio of the 2.91 account signals a significant bull bias. A sharp increase in long positions, starting on April 12, emphasized the shift in the mood even more, as traders expect a long impulse, despite the struggling price.
Support for this prospect, levels of financing OI-inveled data It remains positive from April 7.
This indicates that long traders pay a bonus for maintaining their posts, which reflects the expectations of raising prices. The constancy of a positive level of financing, even during recent consolidation, demonstrates confidence among traders who actively raise the market up.
DOGE owners strengthen long -term confidence
Meanwhile, data from Intotheblock It proves that the long -term owners were dominant in the Dogecoin market, therefore, supporting the bull’s narrative. According to the data, Hodlers – Addresses, which kept DOGE for more than a year – increased by 0.13%.
On the contrary, cruisers, defined as holders from one month to one year, decreased by 2.54%. Nevertheless, the traders that held in less than a month increased by 109.96%, revealing a renewed short -term percentage.
The analyst indicates a certain price channel
A further positive understanding comes from Fuacompany, the TradingView account, which outlined the Dogecoin movement in the framework of the growing channel in a monthly time. This analysis Identified Two scenarios of behavior with a key price.
Firstly, Dogecoin can bounce off the lower border of the canal and continue to form higher maximums. Historically, the assets were bounced from $ 0.05 before rallying to the upper border, demonstrating the potential of the channel to support upwards.
However, in the second scenario, the price may fit for a short time below the lower border of the channel, reaching the levels of about 0.08 US dollars before recovery starts. Both scenarios, however, emphasize a longer -term projection, which suggests that the price may ultimately approach 0.70 US dollars.
