Dogecoin’s Price Action and Market Sentiment
Dogecoin (DOGE) is currently trading at $0.1560, showing a modest 0.32% daily rise. Though, it has seen a 3.20% weekly decline and a 10.45% monthly drop. Its market cap stands at $23.23 billion.
Crypto analyst Ali notes that 72.13% of Binance users are betting on DOGE’s price increase. This contrasts with the 27.87% who are short.This bullish sentiment is evident in the 2.59 long/short ratio on Binance. The Coinglass chart highlights this imbalance, with long positions significantly outweighing short ones.
Surf’s analysis reveals a volatile pattern on DOGE’s chart.The coin’s price could swing either way, making it a risky bet. The majority of traders are optimistic,expecting a price surge to $0.21-$0.29. Yet, this lopsided bullish stance could lead to market volatility. If the price dips below $0.13, it might plummet to $0.06. A breakout above $0.22 could push it higher.But a drop below $0.
