Dogecoin (DOGE) Holds Crucial Level, Eyes on 25% Rally

Dogecoin Defies Market Downturn, Maintains Crucial Level

Despite a significant market correction on January 13, 2025, Dogecoin (DOGE) has exhibited resilience by holding above a pivotal support level.

Rising Trader and Investor Interest

Data from Coinglass shows a surge in trading and investor interest in DOGE over the past 24 hours. The Binance DOGEUSDT long/short ratio of 4.22 indicates a strong bullish sentiment, with 80.83% of top traders and investors holding long positions.

Bullish On-Chain Metrics

Long-term holders have also shown confidence in DOGE, with a notable outflow of $45.05 million worth of the meme coin from exchanges. This suggests accumulation and potential buying pressure that could drive further upside momentum.

Price Prediction

Historical data indicates that DOGE has experienced a price rally of over 25% after touching this support level in the past. Given the current market sentiment, investors are speculating on a similar upside movement.

Market Momentum

As of this writing, DOGE is trading near $0.3247, down by 4.20% in the past 24 hours. However, trading volume has increased by 90%, indicating increased participation from traders and investors.