Dogecoin News Today: Dogecoin Traders Bullish Despite 4% Price Drop and $3.42B Derivatives Activity

Dogecoin continues to draw attention from traders and investors, despite a recent price dip. Over the past week, the cryptocurrency has seen a roughly 4% decline in valuation, yet engagement in derivative markets remains strong. In the last 24 hours alone, nearly 15 billion DOGE were traded, equating to approximately $3.42 billion in volume. This high level of activity reflects sustained interest in the coin, especially through open futures contracts, which have seen a notable increase in value [3]. The open position on the Gate platform alone is reported to be 3.29 billion DOGE—approximately $750.2 million—accounting for 21.92% of the market’s total open positions [1].

Binance and Gate are the most active platforms facilitating Dogecoin trading. Both exchanges continue to see robust transaction volumes, indicating that traders remain confident in the coin’s potential despite its recent price movements. This activity includes a mix of buying and selling, suggesting a balanced yet optimistic market sentiment [1]. Analysts note that the increase in open positions reflects a bullish expectation among traders, who are anticipating a potential rebound in price [1].

On the price chart, Dogecoin has settled within a consolidation range of $0.22 to $0.247 for over a week, drawing the attention of both retail and institutional observers. Despite a 6% drop in the past 24 hours to $0.23, the coin remains within a bullish double-bottom pattern. Technical analysts are closely monitoring the $0.247 resistance level, noting that a breakout above this level could signal a potential 21% upside toward $0.30 [1]. Conversely, a breakdown below the $0.22 support could lead to a 11% decline toward $0.19.

Whale activity has also intensified, with large investors accumulating over 200 billion DOGE. On-chain data reveals a significant imbalance between long and short positions—$48.88 million in long positions versus only $26 million in short positions—highlighting a strong bullish bias among traders [1]. This imbalance, combined with a 20% surge in trading volume over the past week, signals ongoing engagement with the market, despite broader macroeconomic uncertainties linked to the release of the U.S. PPI report [1].

Market sentiment is further supported by the $3.42 billion in capital deployed into derivatives markets, reflecting a willingness among investors to absorb short-term volatility in exchange for potential long-term gains [3]. While the Supertrend indicator remains bearish, traders have not abandoned long positions, and many remain optimistic about Dogecoin’s future trajectory [1]. Analysts continue to caution investors about the volatile nature of the crypto market, despite the current surge in interest and bullish positioning [3].

As Dogecoin enters a critical phase of consolidation, the coming days will be crucial in determining whether the price can break out of its current range and resume an upward trend. The interplay between whale accumulation, technical patterns, and derivative positioning will likely play a key role in shaping the coin’s near-term direction, with traders closely watching key levels for signs of momentum [1].

Source:

[1] Dogecoin price prediction as whales add 200 billion DOGE (https://ambcrypto.com/dogecoin-price-prediction-whales-buy-200b-doge-as-0-30-rally-looms/)

[2] Meme Coin FOMO 2025: PEPE, Dogecoin & Shiba Inu (https://coincentral.com/meme-coin-fomo-2025-pepe-dogecoin-shiba-inu-traders-chase-explosive-hidden-gem/)

[3] Dogecoin Investors Remain Bullish Despite Price Decline (https://finance.yahoo.com/news/dogecoin-investors-remain-bullish-despite-201611741.html)