Ah, Dogecoin – the meme-coin that never ceases to entertain us with its charming antics! 🌟 On Tuesday, July 9, DOGE, which we affectionately call “the Doge,” was trading at $0.1758, valiantly consolidating above the psychological resistance of $0.17 for the second day running. What a feat! After nearly two months of cozying up between $0.13 and $0.16, it’s now aiming for the stars 🚀.
Dogecoin price forecast | Source: TradingView
Looking at the daily DOGEUSDT chart, we notice something rather exciting: a Triple Bottom pattern is making its appearance, with lows established in March, April, and June. The Doge has been busy building a strong foundation between $0.13 to $0.15, almost like a dog digging for treasure! 💎 The resistance neckline stands proudly at $0.20, but don’t be surprised if this little coin surprises us all with a 130% rally, potentially pushing towards a breakout target of $0.40. Hold onto your hats, folks. 🎩
The Relative Strength Index (RSI) is lounging comfortably at 53.43, which means there’s still plenty of room for Dogecoin to skyrocket before we get into overbought territory. And, of course, those glorious Bollinger Bands are widening, signaling that things could get a bit more volatile than a dog chasing its tail 🐕. The price is now rubbing against the upper limit at $0.176 – just a tad bit more and it’s off to the moon!
$130 Million Surge in DOGE Open Interest Confirms Bullish Reversal
Now, let’s talk numbers, shall we? 🧐 On July 9, Coinglass data revealed that Dogecoin’s Open Interest surged by 5.92% to a staggering $2.16 billion, bringing in roughly $130 million in fresh capital within just 24 hours. Can we say “bullish rebound”? You bet we can. 🚀📈
But wait, there’s more! The trading volume also went up to $3.33 billion. You know what they say – when the volume rises, so does the excitement. 😆
Dogecoin Derivatives Market Data | Source: Coinglass
The Long/short ratios on exchanges like Binance and OKX are positively reflecting the bullish sentiment. On Binance, the long/short ratio is 2.7, and on OKX, it’s a solid 2.8. Even among top traders on Binance, the long/short ratio based on accounts has hit 3.6, with open positions sitting at 2.11. It’s clear – the traders are all in on Dogecoin. 🤑
If Dogecoin can keep its daily close above $0.18, brace yourselves for another attempt to push past the $0.20 neckline. If not? Well, we might see a little dip back to the midline of the Bollinger Bands, somewhere around $0.164. But hey, that’s just the nature of this wild ride, isn’t it? 🎢
BTC Bull Token Set to Ride the Meme Wave Alongside Dogecoin
But wait – Dogecoin isn’t the only meme coin riding the wave of excitement! Enter $BTCBULL, a presale token that lets holders earn passive Bitcoin rewards as BTC inches closer to $1 million. Talk about a bullish dream! 🌙
With a staggering $8.4 million USDT already raised and tokens now live for claiming and staking, $BTCBULL is certainly positioning itself to capitalize on the current bull cycle. Buckle up, it’s going to be a fun ride! 💰
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2025-07-10 05:08