Dogecoin buyers are re-entering the market, suggesting a renewed confidence in the memecoin after a decline. Currently trading at 0.1726 USD, DOGE has shown signs of short-term gains despite recent bearish trends.
An order imbalance indicates that buying pressure is beginning to outweigh selling, with buyers dominating both futures and spot markets. This accumulation trend suggests an expectant shift towards bullish sentiment.
With the stock-to-flow ratio climbing to 79, scarcity for Dogecoin is increasing. A continued bullish trend could see DOGE reclaiming $0.187, whereas faltering momentum may lead to a drop towards 0.165 USD.
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