TL;DR
- The OG meme coin has recovered yesterday’s losses and is again above $0.24, with a preferred analyst stating that the subsequent main resistance is 50% increased than its present ranges.
- On the identical time, on-chain information reveals that leveraged merchants proceed to construct huge DOGE positions.
On-chain information exhibits #Dogecoin $DOGE faces main resistance at $0.36, whereas the important thing help zone to observe sits at $0.21. pic.twitter.com/qIABWXmkKd
— Ali (@ali_charts) Could 14, 2025
With the intention to attain the primary main resistance outlined by Martinez, DOGE must outperform its weekly value surge, which noticed it acquire 40%. Recall that the oldest meme coin struggled at round $0.165 till this time final week, when the general market turned bullish and DOGE rode the wave in a formidable method, surging to a multi-month peak of $0.26.
Yesterday’s correction, which pushed it south to Martinez’s key help zone of beneath $0.22, has been erased to a big extent, and DOGE now sits at $0.245.
In the meantime, Glassnode stated yesterday that the DOGE Futures Open Curiosity surged by virtually 64% previously week, going effectively above $1.6 billion. Which means that the quantity of open brief and lengthy leveraged positions has skyrocketed, which comes at an intriguing time when DOGE’s rally cooled off.
In line with the analytics firm, such a fast enhance within the Open Curiosity throughout value pullbacks implies that merchants proceed to construct speculative positions, which may end in enhanced volatility as soon as the market heads decisively in both route.
Regardless of $DOGE pulling again from its current excessive, Futures Open Curiosity continues to rise, up +63.9% over the previous week ($989M → $1.62B). This decoupling suggests persistent speculative positioning, at the same time as value momentum fades – a setup price monitoring: https://t.co/N343pGpptL pic.twitter.com/icOVcqDffA
— glassnode (@glassnode) Could 13, 2025
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