Dogecoin (DOGE) traders have built significant leveraged positions around key technical levels, with derivatives data showing $26.56 million in longs near $0.0857 and $15.48 million in shorts near $0.0929. This activity coincides with a 2% price increase to $0.09020 and a more than 90% surge in trading volume to $1.12 billion, while network data from Token Terminal indicates monthly active addresses grew 11.9% to 973,100.
Traders are heavily leveraged at key levels for Dogecoin, with data from derivatives platform CoinGlass showing large position clusters. Traders have placed approximately $26.56 million in long positions near the $0.0857 support level and about $15.48 million in short positions near the $0.0929 resistance.
These levels have acted as critical intraday support and resistance for DOGE. The concentration represents the largest clusters of leveraged positioning across the derivatives market.
Network activity has also increased, with data from Token Terminal showing active addresses rising from 901,000 to 973,100. This 11.9% monthly growth suggests a return of user activity to the network.
At press time, DOGE’s price climbed over 2% in 24 hours to trade at $0.09020. Trading volume jumped over 90% to approximately $1.12 billion.
Technical analysis indicates DOGE recently retested a major support level near $0.0872 on the daily chart. This level has repeatedly acted as a demand zone since February 2024.
Past rebounds from this support have yielded roughly 20% gains, reinforcing its structural role. A hold above $0.0872 could suggest a move toward $0.111, while a breakdown might expose the $0.06 region.
The Average Directional Index (ADX) reading of 16.02 remains below the 25 threshold that signals a strong trend. This suggests weak directional momentum despite recent price recovery attempts.
A widely followed crypto analyst shared a monthly DOGE chart showing a bullish pennant formation. The analyst stated the broader structure looked “insanely bullish,” in a post, hinting at potential long-term upside.
