Jakarta, Pintu News – Dogecoin continues to be under pressure in the crypto market, remaining in the red due to heavy selling pressure. However, there are interesting dynamics happening behind the scenes that point to a potential significant change in direction.

Dogecoin (DOGE) Under Pressure

Dogecoin (DOGE) is currently in a critical phase, where its exchange rate continues to decline. Despite this, Open Interest has remained steady between $2.65 billion and $3.70 billion, indicating that liquidity is still holding out in the market. This phase is often regarded as the time when smart investors start preparing for the next big move.

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Dogecoin (DOGE) Whales Strategy

According to analysis from AMBCrypto, Dogecoin (DOGE)’s consolidation during this period of market uncertainty is a structural bullish signal. Unlike the other major crypto assets that experienced a decline, Dogecoin (DOGE) managed to maintain its range. In this highly volatile market, only assets with strong support can survive.

Despite price fluctuations, Open Interest for Dogecoin (DOGE) remains strong, with the dominance of long positions reaching over 75.6% on the DOGE/USDT perpetual contract on Binance. This shows a clear bullish tendency among traders.

Market Dynamics and Secret Accumulation

Over the past 24 hours, long positions have come under immense pressure, with 72% of leverage-driven liquidations coming from long positions. However, traders continue to accumulate long positions, which suggests that they may be following the strategy of smart investors. This situation leaves Dogecoin (DOGE) stuck in a limited price movement, where selling pressure and low FOMO keep it stable within a certain range.

However, if the support from savvy investors continues, it is possible that Dogecoin (DOGE) will experience a sudden surge in price. Conversely, with the buildup of liquidity in derivatives, there is a risk of a big drop that could drag the Dogecoin (DOGE) price below its psychological floor of $0.20.

Cover: Last Hope for Dogecoin (DOGE)

With stressful market conditions and complex internal dynamics, the future of Dogecoin (DOGE) depends on the ability of savvy investors to maintain current price support. If they succeed, we may witness a spectacular Dogecoin (DOGE) revival. However, if they don’t, Dogecoin (DOGE) may face even tougher challenges.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

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