DOGECOIN (DOGE), the largest Maem coin in the cryptocurrency space, seems to be moving toward a dull tendency a few days later. As of January 30, 2025, DOGE has recovered with other major assets and seems to have formed a bullish price action.
DOGE PRICE MOMENTUM
With a positive market outlook, DOGE is currently trading nearly $ 0.33 and has increased more than 4.05 % in the past 24 hours.
Following the reversal of the $ 0.31 important support level, traders and investors have shown strong interest and trust in Meme Coin, and as a result, the transaction volume has increased by 8.5 % compared to the previous day. did.
Source: Trading view
DOGECOIN (DOGE) technical analysis and key level
According to technical analysis of experts, DOGE seems to form a bullish double -bottom -price action pattern in a daily time frame. However, MEME COIN’s bullish price action is still formed, and is now at a support level of $ 0.31, and has a strong bullish price reversal.
Based on recent price actions, if Doge has this support level, it may be more likely to rise 25 % to reach $ 0.41 in the coming days.
In the positive side, the DOGE relative strength index (RSI) is currently standing at 45, indicating a strong possibility that Meme Coin will be further combined.
Bullish on -eye metric
Looking at bullish price actions and market emotions, traders and investors have accumulated by betting on Memcoin, as reported by COINGLASS by Oncheen Analysis Company. Data from the spots inflow/leaked has revealed that the exchange has witnessed a considerable amount of DOGE -equal to $ 11.5 million.
In the statement of cryptocurrency, the outflow refers to the movement of assets from the replacement to the wallet, suggesting a potential accumulation. This can lead to purchasing pressure and lead to further upside rally.
Apart from this, traders seem to bet on long aspects. Currently, the DOGE LONG/SHORT ratio is 1.056, which shows strong power among traders, which are the highest since early December 2024.
Source: Coinglass
The data further reveals that 53.5 % of the top traders have a long position, and 46.5 % hold a short position.
Combining these on -ene metrics with technical analysis, the Bulls strongly supports and dominates the Memcoin, which will help you achieve the forecast level in the next few days.
