Dogecoin price stalls! – Can DOGE bulls defy past patterns?

Amid price correction, 75.08% of traders on Binance are long on DOGE. DOGE could soar by 20% if it closes a daily candle above the $0.255 level. After a notable 50% rally, Dogecoin [DOGE] appears to be consolidating near the key resistance level of $0.25 for the past three days. This ongoing consolidation is attracting significant attention from traders and investors, as reported by on-chain analytics tools Coinglass and IntoTheBlock. Whale activity soars 41%, bullish signal? IntoTheBlock data shows that Dogecoin’s large transaction volume—often tied to whale and institutional activity—has surged 41.12% in the past 24 hours. This sharp increase signals growing interest and confidence in the memecoin, hinting at possible continued upward momentum. Source: IntoTheBlock With rising interest from whales and institutions, Dogecoin’s daily active addresses have also surged by 34.91% during the same period. 75% of traders are long on DOGE Coinglass data reveals a sharp increase in bullish bets on Dogecoin. At press time, the Binance DOGEUSDT Long/Short Ratio stood at 3, signaling strong bullish sentiment. This means that for every three long positions, only one short position has been formed on Binance. Additionally, 75.08% of DOGE traders on Binance hold long positions, while just 24.92% are short. Source: Coinglass Despite these bullish on-chain metrics, DOGE’s price seems to be struggling to gain momentum. At press time, the memecoin was trading near $0.2276 and has recorded a decline of 8.40% over the past 24 hours. During the same period, its trading volume dropped by 10%, indicating lower participation from crypto enthusiasts compared to the previous day. Dogecoin’s price action & key levels Expert technical analysis shows that DOGE has been consolidating near the key resistance level of $0.25 for the past three days. This raises the question—will the memecoin repeat past patterns or is this just a routine correction? The last time DOGE hit this level, it faced strong selling pressure, leading to a downward move. Will history repeat, or can bulls push past resistance this time? Source: Trading View If DOGE continues consolidating and closes a daily candle below $0.22, downside momentum could follow in the coming days. However, if sentiment shifts and DOGE breaks resistance by closing a daily candle above $0.255, an upside rally may unfold. This could push the memecoin toward its next resistance at $0.30, potentially securing a 20% gain. Share Share Tweet