75% of Dogecoin trading accounts consist of long traders, showcasing predominant bullish sentiment in the market. Despite recent concerns about trading volume, the enthusiasm for DOGE remains high.
Dogecoin recently retraced 19% but has sparked retail interest due to increased on-chain activity. The market shows signs of bullishness, although profit-taking is causing some price fluctuations.
Support was identified at $0.212, aligning with 50% retracement levels. The overall market sentiment appears cautiously optimistic, as buy/sell volumes are nearly balanced, reflecting a stable outlook for Dogecoin.
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