- 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.
Source: IntoTheBlock
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.
Source: Coinglass
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?
Source: Trading View
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.