DOGE Bulls Target $0.2036 Amid Whale Accumulation and Binance Optimism

Despite a recent 4.12% price drop to $0.1538, Dogecoin (DOGE) traders remain overwhelmingly bullish, with 72.13% of Binance open positions long, resulting in a Long/Short Ratio of 2.59. Whale accumulation and rising options activity further signal confidence, as DOGE breaks a key trendline with eyes set on $0.2036. However, the current pullback raises questions about the sustainability of this optimism.

Dogecoin: 72% of Traders Long Despite Price Slide

Dogecoin breaks trendline as bulls eye $0.2036. Whale accumulation and rising options activity signal confidence. Binance traders show overwhelming optimism with 72.13% of open positions long, driving the Long/Short Ratio to 2.59. However, DOGE currently trades at $0.1538, down 4.12% in the last 24 hours, raising questions about the validity of this bullish bet.

Dogecoin Price Enters Final Stage Of Pullback

The Dogecoin price has been steadily declining since December 2024 after reaching a new local peak in November. In four months, the meme coin has lost over 50% of its value, sparking fear among investors. However, crypto analyst Trader Tardigrade believes the altcoin is nearing the end of its pullback and could soon see a price increase. The analyst pointed out similarities between the current Dogecoin chart and its appearance in 2024 before a 400% rally.

Here’s Why Dogecoin’s Rise To $0.50 Might Be Imminent

The meme coin market has been sluggish over the past few weeks, with Dogecoin (DOGE) among the assets on a downtrend. Despite the bearish sentiment, the DOGE community remains optimistic, as indicated by the percentage of long positions on a major cryptocurrency exchange. However, the question remains whether DOGE can reclaim its $0.50 milestone in the coming days. Dogecoin has been trading volatily, dropping by 4% in the past week and facing similar fluctuations throughout the past month.