On Binance, most traders are betting on this Dogecoin (DOGE) It will continue to rise, as recent analysis has shown that 81.05% of all open Dogecoin positions on the platform are long. This indicates that traders are very optimistic about the popular meme coin.

Only a small percentage of traders are betting that prices will fall, with the remaining 18.95% of positions being short. The long to short ratio is currently 4.28, which indicates a significant change in how optimistic people are about Dogecoin.

Moreover, the funding rate is also positive, as shown in CoinGlass data. When funding rates are positive, it is a sign that traders are happy to pay to maintain their long positions because they believe the price will rise. All of this suggests that DOGE is poised for further growth.

But this optimism is somewhat at odds with what is happening in the market recently. On the day of the analysis, the price of Dogecoin fell by approximately 1%. But the bigger picture is more complex.

A few days ago, Doug It rose more than 10% after finding support at a local low of $0.314. Dogecoin appears to be going through a period of significant price fluctuations, but the long-term picture looks good.

The filter data is also interesting. In the last 24 hours, most of the liquidated positions were short positions. In fact, less than half of the closed perpetual futures positions in DOGE were long. This indicates that traders who bet against... Dogecoin price The business was caught on the wrong side of the market.

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