Despite the recent drop in prices, Dogecoin investors have a high degree of trust in the future of the Meme currency, as market data showed on Tuesday.
From April 16, Dogecoin fell to $ 0.153 after its price reached a maximum of $ 0.168 on April 13, which has been 3% in the last 24 hours. According to the recent price increase, this happens after the explanation of the tariff declaration of US President Trump on April 10 in certain countries.
Long positions dominate the market activity
The mood of the dealers in Binance is firmly optimistic about Dogecoin’s future prospects. Coinglass data shows that over 74% of the trading accounts have long positions in cryptocurrency, while only 25% are too short. This sets the long -term ratio of 2.90 and is a widespread optimism among dealers.
On April 12, the long positions rose quickly, which shows that investors expect Dogecoin to jump back from their current correction period. They are ready to pay premiums to maintain their positions, as evidenced by positive OI-weighted financing rate signals, which have remained over zero since April 7.
Long|Short DOGE by accounts. Source: Coinglass
Owner patterns indicate diversified strategies
Intotheblock statistics show considerable shifts in the way people keep dogecoin. Investors who kept Doge over a year rose by 0.13%by 0.13%. These types of “Hodlers”, as they are referred to in cryptocurrency forums, represent a solid support basis for the currency.
Source: IntoTheBlock
In the meantime, the half -time holder (owner of Doge for one to 12 months) fell by 2.50%. Short -term dealers recorded the greatest increase, with the addresses that rose by 109%for less than 30 days. This new dealer increase reflects the increasing demand for quick profit from Dogecoin price campaign.
Technical analysis shows future price instructions
A tradingView account, Fuacompany, has planned the movement of Dogecoin in what analysts call the increasing channel. On the basis of this trend, two general scenarios for dotecoins future price are offered.
The first scenario shows how Dotecoin bounces off the bottom of this channel and trends further up. This would correspond to what happened before when the price of $ 0.05 was released to higher levels.
The second scenario includes a temporary decline under the conclusion of the channel, which meets around 0.08 US dollars before they rise higher. Both scenarios ultimately have long -term bullish signals, with some projections appreciating dotecoin to even achieve $ 0.70.
Weekly performance still positive despite a break -in
Despite the latest break -in, Dogecoin is still positive a total of the week. In fact, despite this dips, the cryptocurrency last week showed a strong increase for around 7.40%.
DOGE price up in the last week. Source: CoinMarketCap
The prize started at the beginning of April with an initial volatility before the Trump tariff declaration was strengthened with the President’s tariff declaration. After the monthly summit on April 13, Dogecoin came up to 0.168 and encountered what dealers see as a consolidation phase in which the prices continued to trend sideways while preparing for another step.
According to market observers, this pattern of profits and subsequent consolidation is typical of cryptocurrency markets. The strong level of the long positions shows that most dealers only consider the current drop of price as a temporary swallowing and not the beginning of a larger bear trend.
Selected picture of CONFLIP, DIAGRAMM from Tradingview
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