72% of Binance Traders Hold Long Positions on Dogecoin
Despite a recent decline in Dogecoin price, investor sentiment remains bullish. Key points include:
- 72.46% of traders on Binance are long on Dogecoin, indicating optimism for recovery.
- Only 27.54% are short positions on the same exchange.
- Overall market sentiment shows 51.86% of open bets across all exchanges are short, totaling over $1.15 billion.
- Long bets are at 48.19%, amounting to less than $1.1 billion.
- The rise in daily trading volume exceeds $700 million despite the price drop.
- A crypto analyst identified an Ascending Wedge pattern, suggesting potential price targets of $1.161, implying a possible surge of over 580%.
