⚡ Traders of currency $DOGE are heading towards buying ⚡
- Speculators on the rise of Dogecoin $DOGE are preparing for new highs after on-chain metrics showed positive performance.
- This comes after consecutive weeks of sideways trading despite attempts at upward resistance.
- Sentiment for the meme coin has significantly increased, adding over 10.000 billion dollars to the market.
- This rise aligns with the increase in Bitcoin and a slight uptick in central financing (DeFi) numbers.
- On-chain data shows that over 69.5% of open Dogecoin positions on Binance futures are long-term positions.
- This indicates a rise in trader optimism following recent DOGR price movements.
- The futures market provides a forward-looking perspective on traders leaning towards the next cycle.
- Currently, it is expected that Dogecoin holders will see a price increase if the current situation remains unchanged.
- Binance trading volume is also a key factor in the bullish reaction of speculators to open buy positions.
- Typically, positive Binance indicators drive market participants into an accumulation phase.
- The weekly gains of the leading meme coin exceeded 43%, igniting multiple breakout attempts.
- Last week, Dogecoin holders set the price level of $0.5 as their next target.
🔥 Is it expected to rise to $0.5 🔥❓
