- Amid price correction, 75.08% of traders on Binance are long on DOGE.
- DOGE could soar by 20% if it closes a daily candle above the $0.255 level.
- After a notable 50% rally, Dogecoin [DOGE] appears to be consolidating near the key resistance level of $0.25 for the past three days.
This ongoing consolidation is attracting significant attention from traders and investors, as reported by on-chain analytics tools Coinglass and IntoTheBlock.
Whale activity soars 41%, bullish signal?
IntoTheBlock data shows that Dogecoin’s large transaction volume—often tied to whale and institutional activity—has surged 41.12% in the past 24 hours.
This sharp increase signals growing interest and confidence in the memecoin, hinting at possible continued upward momentum.
With rising interest from whales and institutions, Dogecoin’s daily active addresses have also surged by 34.91% during the same period.
75% of traders are long on DOGE
Coinglass data reveals a sharp increase in bullish bets on Dogecoin.
At press time, the Binance DOGEUSDT Long/Short Ratio stood at 3, signaling strong bullish sentiment. This means that for every three long positions, only one short position has been formed on Binance.
Additionally, 75.08% of DOGE traders on Binance hold long positions, while just 24.92% are short.
Despite these bullish on-chain metrics, DOGE’s price seems to be struggling to gain momentum. At press time, the memecoin was trading near $0.2276 and has recorded a decline of 8.40% over the past 24 hours.
During the same period, its trading volume dropped by 10%, indicating lower participation from crypto enthusiasts compared to the previous day.
Dogecoin’s price action & key levels
Expert technical analysis shows that DOGE has been consolidating near the key resistance level of $0.25 for the past three days.
This raises the question—will the memecoin repeat past patterns or is this just a routine correction?
The last time DOGE hit this level, it faced strong selling pressure, leading to a downward move.
Will history repeat, or can bulls push past resistance this time?
If DOGE continues consolidating and closes a daily candle below $0.22, downside momentum could follow in the coming days.
However, if sentiment shifts and DOGE breaks resistance by closing a daily candle above $0.255, an upside rally may unfold.
This could push the memecoin toward its next resistance at $0.30, potentially securing a 20% gain.
