Dogecoin exhibits stability at $0.16, supported by market optimism and ETF rumors.
Market Situation of Dogecoin
Dogecoin continues to show stability at $0.16 as of late June following increased volatility during the month. The cryptocurrency recorded a 0.3% decline over the last 24 hours but remains above essential support levels, indicating rising trust among bullish participants.
Long Position Traders on the Rise
Market optimism has led to a noticeable increase in long positions. CoinGlass data shows that the DOGE long/short ratio climbed above 1, signaling that bulls are taking control of the price momentum. The positive funding rate for Dogecoin futures confirms that long traders are willing to pay premiums to maintain their positions.
Technical Indicators and Forecasts
Technical indicators also show bullish signs. A double bottom formation is developing on the weekly chart, which is generally considered an early signal for a potential upward trend. The $0.142 support area has been repeatedly defended by bulls since April 2025. Should the price hold above this level, resistance is expected around $0.26, with a potential target of $0.47 if this level is surpassed.
The current situation with Dogecoin suggests growing optimism among traders, which, if supported by key levels, may lead to further price increases.
