On January 13, 2025, the overall cryptocurrency market experienced a significant downturn. However, Dogecoin, the world's largest meme coin, managed to stay above a crucial level despite substantial losses in other leading crypto assets.
Interest from Traders
Although DOGE faces similar pressure, it has managed to maintain support due to increasing interest from traders and investors over the past 24 hours. According to Coinglass, significant bets have been placed on Dogecoin in the market.
Bullish Exchange Metrics
Data reveals that the DOGEUSDT long/short ratio on Binance is 4.22, indicating strong bullish sentiment. Currently, 80.83% of top traders on Binance hold long positions, while 17.17% hold short. These substantial bets are helping sustain the $0.30 support level. Long-term holders also show growing interest in DOGE, with over $45.05 million worth of the coin being withdrawn from exchanges, indicating accumulation.
DOGE Price Predictions
Beside price levels, another factor attracting traders and investors is the support level. The last time DOGE reached this mark, it jumped over 25%. In the current market sentiment, traders and investors are speculating a similar rally.
Despite the overall cryptocurrency market downturn, Dogecoin has shown resilience thanks to active participation by traders and long-term investors. The coin's further movement will depend on general market trends.
