Dogecoin Price Surges Past $0.17 as Triple Bottom Pattern Signals 130% Upside Potential
Dogecoin trades at $0.1758 after breaking $0.17 psychological resistance, forming a triple bottom pattern with $0.40 breakout potential. Open interest surged $130 million as long/short ratios favor bullish continuation across major exchanges.
The daily DOGEUSDT chart outlines a Triple Bottom pattern, with recent lows registered in March, April, and June, establishing strong support between $0.13 to $0.15. The neckline resistance is positioned around $0.20, with a potential for a 130% rally if the $0.40 breakout target is validated.
The Relative Strength Index (RSI) sits at 53.43, indicating more room for upside before overbought conditions. More so, the widening Bollinger Bands signal increased volatility with DOGE price pressing against the upper limit at $0.176.
$130 Million Surge in DOGE Open Interest Confirms Bullish Reversal
Recent Derivatives trading metrics further validate the bullish momentum behind Dogecoin price action. On July 9, Coinglass data shows that Dogecoin Open interest surged by 5.92% to $2.16 billion, reflecting approximately $130 million in fresh capital inflows within the last 24 hours.
This rapid capital inflow was accompanied by a rise in trading volume, which climbed to $3.33 billion, emphasizing the bullish rebound narrative.
Dogecoin Derivatives Market Data | Source: Coinglass
More so, Dogecoin Long/short ratios across major exchanges further reinforce the bullish narrative. On Binance, the ratio of long to short positions among accounts stands at 2.7, while OKX shows an even stronger bias with a ratio of 2.8.
Among top traders on Binance, the long/short ratio based on accounts has reached 3.6, and by open positions, it sits at 2.11. These figures reveal that both retail and high-volume traders are clearly leaning long, favoring another DOGE price leg-up in the coming sessions.
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I’m a research analyst with experience supporting Web3 startups and financial organizations through data-driven insights and strategic analysis. My goal is to help organizations make smarter decisions by bridging the gap between traditional finance and blockchain innovation.
With a background in Economics, I bring a solid understanding of market dynamics, financial systems, and the broader economic forces shaping the crypto industry. I’m currently pursuing a Master’s degree in Blockchain and Distributed Ledger Technologies at the University of Malta, where I’m expanding my expertise in decentralized systems, smart contracts, and real-world blockchain applications.
I’m especially interested in project evaluation, tokenomics, and ecosystem growth strategies, as these are areas where innovation can drive lasting impact. By combining my academic foundation with hands-on experience, I aim to provide meaningful insights that add value to both the financial and blockchain sectors.
