- Doge attracted the lowest liquidity among the top memos despite the market cap ranking.
- Analysis shows that the technology indicators can reach a new height, referring to potential evacuation.
Dogecoin (DOGE) Last week, it decreased 16.23% to investors.
However, according to the analysis, the Doge can resume strong movement this week, and assets rise as asset accumulation and derivative long -term bets increase at the same time.
If the liquidity is low, the Doge is behind
The 90 -day performance index of CoinmarketCap shows that Dogecoin is the lowest among the major memoes based on market cap, despite the fact that they have a market cap of $ 28.6 billion.
At the time of writing, Doge has only gained 0.04% over the last 90 days. On the contrary, FARTCOIN, which has a $ 1.1 billion market cap, surged 368% over the same period.
Source: Coinmarketcap
Despite these achievements, market analysis shows that Doge can prepare for a rally.
Dogecoin has been traded at a significant level (ascension support line) for a day.
This area can serve as a catalyst for main price movement, and the goal is $ 0.25, indicating 33% rally at the current price level.
Source: TradingView
However, if the Doge does not build enough momentum, the price can return the origin of ascension patterns near $ 0.14.
The retail trader is holding the side
Retail traders began to leave their positions in the derivative market and increased significantly with long betting.
In the press time, the long/short ratio stood at 1.01 and indicates the slope of the strong sentiment. The ratio of more than 1 means the purchase volume higher than the sales volume, which strengthens the rally.
Source: COINGLASS
A close survey of interest (OI) in both options and futures contracts shows a steady increase. OI represents the total value of unstable derivative contracts within a certain period of time.
At the time of writing, OIs in the futures market reached $ 2 billion and the option market is $ 347,000. With the increase in purchasing volume, the continuous growth of the OI suggests that Doge can continue to climb.
Doge could see more influx
In the last 24 hours, Doge has seen a notable inflow.
Source: COINGLASS
When a large amount of tokens move to exchange and personal wallets, they generally show accumulation in anticipation of long -term meetings.
This also means that tokens are unlikely to return to the market for sales. If such inflows continue, the Doge tends to toward the $ 0.25 goal summarized in the chart.