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Dogecoin Tops Crypto Funding Charts As Traders Load Up On Longs

  • Dogecoin currently leads in Funding Rate among cryptocurrencies, indicating increased long positions by traders.
  • Funding Rate tracks fees exchanged between perpetual futures traders on centralized derivatives platforms.
  • A positive Funding Rate signals bullish sentiment, while a negative rate suggests bearish sentiment.
  • Bitcoin and Ethereum show positive Funding Rates, rebounding from previous bearish sentiments.
  • Dogecoin stands out with a 0.0092% Funding Rate, significantly higher than other cryptocurrencies.
  • Tron has a negative Funding Rate, indicating bearish sentiment, while Solana has a neutral rate.
  • The dominant side in Funding Rate is more prone to mass liquidation events.
  • Assets like Dogecoin with strong bullish sentiment risk being squeezed due to high long positions.
  • Data also shows Supply in Profit, with Bitcoin and Tron having over 90% in profit compared to Dogecoin and Solana having less than 50%.
  • Dogecoin is currently trading at around $0.1666, experiencing a more than 15% decrease in value over the past week.

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