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Dogecoin Trading Volume Surges by 51%, Is DOGE Price Jump Imminent?
- Dogecoin's trading volume surged by 51%, signaling strong buying interest and potential price momentum.
- DOGE displayed resilience amid market volatility and geopolitical concerns, holding support levels.
- A sharp correction led to a liquidation phase but also attracted renewed buying interest, with quick price recovery.
- Trading volume reached $1.71 billion in 24 hours, establishing a new base at $0.145.
- Price fluctuations ranged from $0.143 to $0.154, with signs of short-term momentum and higher lows observed.
- Liquidations amounted to $10.4 million, with risk exposure seen on both long and short positions.
- Open interest rose by 5.43%, indicating broader market involvement and potential fluctuations.
- Analysts suggest a possible deeper pullback towards $0.13 before a stronger upside to $0.25.
- DOGE's funding rate stayed balanced and positioning leaned slightly bearish, impacting short-term price action.
- Short-term targets are at $0.155 to $0.158, with focus on $0.153 for bullish continuation.
- Traders are cautious amidst uncertainty and are monitoring macro signals for market direction.
- A potential gain of over 90% for DOGE by Q3 is projected if stability holds at the $0.13 accumulation point.
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