Schlagwort: crypto business

• The US-UK trade deal lifted investor sentiment across digital assets.
• At the time of writing on Friday, DOGE was trading at approximately $0.206.
• Open Interest rose 18% to $2.17 billion, driven by long positions.

Dogecoin (DOGE) surged 18% this week, reclaiming the $0.20 mark after breaking above key technical levels on Thursday.

The rally follows a new trade agreement signed between the United States and the United Kingdom, which triggered bullish momentum across the crypto market.

DOGE’s upward move mirrors broader investor optimism, with market-wide recoveries helping it clear the 50-day and 100-day exponential moving averages (EMAs), historically strong resistance zones for the meme coin.

At the time of writing on Friday, DOGE was trading at approximately $0.206, having established a support base above $0.20.

The renewed interest was accompanied by a sharp rise in trading volume and derivatives activity, suggesting increased participation from institutional and retail traders.

Source: CoinMarketCap

$13 million in liquidations

Dogecoin’s rally sparked a wave of liquidations in the futures market, with approximately $13 million worth of positions wiped out in the past 24 hours.

According to Coinglass data, short liquidations made up the majority at $11.3 million, while longs accounted for just $1.6 million.

This imbalance indicates a textbook short squeeze, where a sharp price increase forces traders with bearish positions to exit rapidly, pushing prices even higher in the process.

Open Interest (OI) in DOGE futures also jumped by 18% to $2.17 billion, a sign of growing trader appetite.

The surge in OI, particularly from long positions, suggests market participants are positioning for further upside.

Binance’s long-to-short ratio of 2.4602 reinforces this trend, showing more traders betting on DOGE to move higher.

Volume activity added to the bullish confirmation. DOGE’s 24-hour trading volume spiked 74.49% to reach $4.5 billion, with elevated volume during an uptrend generally viewed as a confirmation of momentum strength.

Inverse head and shoulders targets $0.24 breakout

Dogecoin has broken out from a classic inverse head and shoulders formation, often seen as a bullish reversal signal.

The structure, observed on the daily chart, projects a potential 33% move from the breakout level, which puts the next price target at around $0.24.

The projection is based on the pattern’s height measured from the head to the neckline and applied above the breakout point.

Currently, DOGE is attempting to stabilise above the 100-day EMA at $0.20.

If this support holds, the bullish momentum is likely to continue into the next sessions.

The MACD indicator also shows positive divergence, with green histogram bars above the centreline pointing to increasing upward pressure.

However, traders should remain cautious. The RSI has reached 70.31, entering the overbought zone.

While this does not immediately signal a reversal, it often precedes short-term corrections.

Should DOGE retreat from current levels, the 50-day EMA at $0.18 may serve as a key support and re-entry zone.

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• Pudgy Penguins hints at recovery with a parabolic curve.
• Brett rallies toward a $1 billion market cap.
• Trump token stabilises, eyes $16.50 resistance.

The memecoin market is witnessing a sharp upward shift in momentum, tracking broader gains in Bitcoin as its price edges close to the $100,000 mark.

The sector has recorded a collective rise of nearly 10% in the past 24 hours, with trading volumes doubling, fuelled by revived risk appetite and improving sentiment.

As Bitcoin extends its bullish leg, top-performing meme tokens like Mog Coin (MOG), Pudgy Penguins (PENGU), Brett (BRETT), and Official Trump (TRUMP) are drawing investor interest with sharp rebounds and breakout patterns suggesting further upside.

The rally marks a stark turnaround from the bearish sentiment that defined much of Q1 2025, highlighting how quickly momentum can shift in the speculative memecoin space.

Mog Coin leads gains

Mog Coin (MOG) emerged as the top performer in the latest memecoin rally, gaining nearly 40% within a single trading session.

The surge coincides with Bitcoin’s upward move, which has significantly improved investor sentiment across risk-on assets, particularly in low-cap tokens.

The spike in volume and price signals increased speculative trading, typical of meme tokens during periods of high market volatility.

Analysts are monitoring MOG for signs of continuation above its short-term resistance, with broader market conditions likely to determine whether it can sustain its gains.

PENGU price rebounds

Pudgy Penguins (PENGU) made headlines earlier this year with a 2,000% price explosion shortly after launch, followed by a steep 92% correction.

Despite the pullback, the token is showing early signs of recovery. Trading activity has picked up again in Q2, with volume topping $2.2 billion during recent rallies.

Technically, PENGU is showing a parabolic price curve with support from a bullish Gaussian Channel and CMF divergence, indicating increased capital inflows.

The MACD remains in positive territory, suggesting upward momentum. If the current trend holds, PENGU could retest its neckline resistance near $0.042 in the short term.

Brett nears the key zone

Brett (BRETT) is also participating in the memecoin surge, with its price rebounding sharply in an effort to reclaim a $1 billion market capitalisation.

The token has bounced from a key support zone and is now challenging resistance levels between $0.065 and $0.067.

Support from the 50-day and 200-day moving averages has helped the token maintain a bullish structure.

The MACD is signalling a potential crossover, while selling pressure appears to be fading. If the token breaks through the current range, analysts expect a push toward $0.11.

TRUMP token recovers

The Official Trump (TRUMP) token has returned to the spotlight after an initial slump linked to post-launch profit-taking.

Following a breakout from its bearish pennant, the TRUMP token is rallying again, supported by a steady rise in trading volume and a strengthening RSI.

Initially affected by reports of the US President’s team offloading their holdings, the token has now stabilised.

Price action suggests a retest of $13.50 is underway.

If successful, TRUMP could extend gains toward $16.50, especially if broader market conditions remain favourable for altcoins and meme assets.

Bitcoin breakout key

The overarching driver behind the current meme rally remains Bitcoin’s continued march toward the $100,000 threshold.

Should it surpass this psychological level, analysts suggest another leg up in riskier crypto assets could follow.

Meme tokens often benefit disproportionately from euphoric market phases, making them potential short-term gainers but also exposing investors to elevated risk.

Despite the technical setups favouring upside in several tokens, the memecoin market remains speculative.

Prices often move quickly and react strongly to shifts in sentiment, volume changes, and even social media trends.

Traders are advised to remain cautious while navigating this volatile space.

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