Binance News: Dogecoin (DOGE) Price Outlook Remains Bullish Among Binance Futures Traders

Despite a significant downturn, Binance Futures traders remain optimistic about the future price of Dogecoin (DOGE). Here’s what you need to know.

Binance Traders Expect Dogecoin (DOGE) Price Gains Despite Downtrend

Around three-quarters of Binance Futures traders who have opened DOGE positions are expecting price gains in the NEAR future. The overwhelming imbalance between long and short trades may signal a contrarian risk. Dogecoin (DOGE) witnessed an impressive surge in December last year, exceeding $0.45, but has since retreated by approximately 60% and currently trades at around $0.18. Despite the downtrend, many investors remain bullish on the OG meme coin. Renowned analyst Ali Martinez revealed that more than 76% of the traders on Binance Futures have opened long positions on Dogecoin.

TUT Coin Explodes 250% After Binance Listing

The crypto market witnessed a “Binance effect” rally as Tutorial (TUT) skyrocketed after its listing on the exchange. Traders are now searching for the next big thing, with some turning their attention to Solaxy (SOLX), a new Layer-2 solution for Solana that raised over $28 million in its presale. TUT is an educational demo project on the BNB Chain created by a former Binance developer to teach people the basics of crypto and DeFi, using an AI assistant called “Tutorial Agent”.