Dogecoin has recently become the focus of the market again! Although the price has slightly pulled back, the enthusiasm has not cooled down; in fact, it has become even crazier! 🔥

📈 Speculative sentiment is high, and DOGE futures positions are surging.
According to Glassnode data, in the past week, DOGE futures open interest (that is, leveraged positions opened in the market) surged by 64%, from $989 million to $1.62 billion, setting a new record! This indicates that more and more people are crazily increasing their positions in the market, and price fluctuations may become even more extreme!

🤔 Strange: the price is falling, but positions are increasing.
Normally, people love to gamble when the currency rises. But this time, after Dogecoin's price fell from its peak of $0.253, the futures positions are still increasing, indicating that many people are betting that the next wave may be about to explode!

💣 Beware of leverage risks
Although speculative enthusiasm is high, with so many leveraged positions piled up, if the direction is wrong, it could lead to a massive 'liquidation wave'. The market is stagnant, and risks are brewing. 🐕💥

📉 How is the current price trend?
Since Dogecoin started its upward trend in early May and broke through $0.20, it once surged to $0.253, but then faced resistance and is now oscillating between $0.217 and $0.231. From the chart, a symmetrical triangle structure is forming — which means that once it breaks out, there could be a big market movement!

📊 How does the technical aspect look?

  • There is a downward trend line above and key support below;

  • Trading volume is shrinking, a change is brewing;

  • Upward or downward? It depends on the sentiment of funds and whether the trading volume expands.

🧨 Not only Dogecoin, XRP is also in a frenzy!
XRP's futures positions also surged by 41.6%, with the price rising from $2.14 to $2.48. Like Dogecoin, the market is filled with leveraged bets, and everyone is waiting for the next wave of market action!

💡 A suggestion for beginners:
Don't just look at the price; see where the funds are going crazy, and you can often sniff out the opportunities. For popular coins like Dogecoin, as long as the market is not cold, speculators will always come back. ⚠️ Remember to control your positions reasonably; don’t get trapped by 'leverage enthusiasm'!