Dogecoin Price Could Cool Off Briefly, but a 74% Rally May Still Be in Play
The post Dogecoin Price Could Cool Off Briefly, but a 74% Rally May Still Be in Play appeared on BitcoinEthereumNews.com. Key Insights: Dogecoin price briefly topped $0.2785, but negative exchange flows show strong holder conviction. OI-weighted funding rate hit 0.0239%, signaling possible short-term cooling after an overheated rally. Bullish EMA crossovers and a projected 74% upside keep the $0.48 DOGE price target alive. Dogecoin price is cooling off after breaking past a key resistance level, but signs suggest the rally might just be catching its breath. With investors still bullish and on-chain data indicating a green signal, DOGE may be setting up for a fresh move toward $0.48. Dogecoin Price Eyes Rally Amid Bets from Investors One of the clearest signals of investor confidence is how much DOGE is flowing into or out of exchanges. Over the past week, DOGE has seen consistent negative net flows. In simple terms, this means that more Dogecoin is being withdrawn from exchanges than being deposited. Exchange netflows are negative | Source: Coinglass When investors pull DOGE or any crypto out of exchanges, it usually means they’re holding onto it, expecting prices to rise. This “accumulation” trend reduces the selling pressure and often sets the stage for price growth. The last time we saw similar net outflows on major exchanges, DOGE rallied sharply in the following weeks. With the current negative flows still intact, it’s a hint that the bullish sentiment is far from over. Funding Rates Are Overheating; Short-Term Caution? Now let’s talk about the derivatives market. A useful tool here is the Open Interest (OI)-Weighted Funding Rate. On July 21, the DOGE OI-weighted funding rate hit 0.0239, a level that usually signals excessive bullish leverage. Overheated funding rates | Source: Coinglass Put simply, funding rates are like interest payments between traders. When they’re very high, it means too many traders are betting on the price going up using borrowed money. This can…
The post Dogecoin Price Could Cool Off Briefly, but a 74% Rally May Still Be in Play appeared on BitcoinEthereumNews.com.
Key Insights: Dogecoin price briefly topped $0.2785, but negative exchange flows show strong holder conviction. OI-weighted funding rate hit 0.0239%, signaling possible short-term cooling after an overheated rally. Bullish EMA crossovers and a projected 74% upside keep the $0.48 DOGE price target alive. Dogecoin price is cooling off after breaking past a key resistance level, but signs suggest the rally might just be catching its breath. With investors still bullish and on-chain data indicating a green signal, DOGE may be setting up for a fresh move toward $0.48. Dogecoin Price Eyes Rally Amid Bets from Investors One of the clearest signals of investor confidence is how much DOGE is flowing into or out of exchanges. Over the past week, DOGE has seen consistent negative net flows. In simple terms, this means that more Dogecoin is being withdrawn from exchanges than being deposited. Exchange netflows are negative | Source: Coinglass When investors pull DOGE or any crypto out of exchanges, it usually means they’re holding onto it, expecting prices to rise. This “accumulation” trend reduces the selling pressure and often sets the stage for price growth. The last time we saw similar net outflows on major exchanges, DOGE rallied sharply in the following weeks. With the current negative flows still intact, it’s a hint that the bullish sentiment is far from over. Funding Rates Are Overheating; Short-Term Caution? Now let’s talk about the derivatives market. A useful tool here is the Open Interest (OI)-Weighted Funding Rate. On July 21, the DOGE OI-weighted funding rate hit 0.0239, a level that usually signals excessive bullish leverage. Overheated funding rates | Source: Coinglass Put simply, funding rates are like interest payments between traders. When they’re very high, it means too many traders are betting on the price going up using borrowed money. This can…
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