[Coin Market] Dogecoin(DOGE) responds to Fed's interest rate cut signals... Building upward momentum through retail and whale joint buying

• Risk-on sentiment spreads, DOGE spot price records $0.13… Approaching $0.1480 breakout
• Futures open interest(OI) surges 10% & funding rate at 0.091%… Clear signals of increased buying pressure
• Upper resistance levels targeted gradually at $0.1644~$0.1970… Watch for support at $0.1298

The leading meme coin(Meme Coin), Dogecoin(DOGE), continues its upward trend amid the Federal Reserve(Fed·Federal Reserve)'s outlook for interest rate cuts. In the spot market, DOGE successfully rebounded 4% last week, and is currently holding steady around $0.13, accumulating energy for the next upward move. As risk-on(Risk-on) sentiment revives across the market, DOGE is maintaining focus near a short-term trend inflection point resistance, aiming for further gains.

Signals from the derivatives market: simultaneous buying flows from small and large investors

DOGE’s current rally is noteworthy for being supported by real supply and demand improvements beyond mere technical rebound. Data from derivatives exchanges show that funds from retail investors(retail) and large institutional investors(whales) are flowing in simultaneously.

According to CoinGlass(CoinGlass) data, DOGE’s open interest(Open Interest) in futures surged 10.29% in the past 24 hours, expanding to $1.49 billion. The significant increase in open interest indicates market participants are confident in the current trend and actively entering new positions.

Specific indicators also show a ‘strong buy dominance’:

Funding Rate Analysis: The funding rate, indicating overheat in the futures market, is at 0.091%. This means long(long) positions are willing to pay a premium to short(short) positions, reflecting heightened bullish expectations.

Long/Short Ratio Changes: The proportion of long positions, which was 48.44% last week, has increased to 50.83%, indicating a growing buying momentum leading the market. This is a positive market sentiment indicator.

On-chain data from CryptoQuant(CryptoQuant) suggests ‘smart money’ involvement. Large whale wallets(whale) show a noticeable increase in futures order volume, indicating professional investors are betting on DOGE’s upward scenario.

Technical Chart: Breakthrough of $0.1480 marks the start of a genuine rally

From a technical perspective, DOGE is at a critical juncture. The current price is attempting to break through the downtrend line near $0.1480, which connects the highs from October 26 and November 11. If it closes above this resistance on Wednesday, it could trigger a technical buy signal and initiate a further rally.

However, multiple resistance levels lie ahead. The first resistance is at $0.1644(50-day EMA), followed by $0.1800(volume concentration zone) and $0.1970(200-day EMA). Breaking through these densely packed supply zones(Supply Zone) requires substantial trading volume.

Supporting indicators also show gradual improvement. The Relative Strength Index(RSI) is at 46, below the neutral 50, indicating it’s not yet overbought, while the Moving Average Convergence Divergence(MACD) is approaching a bullish crossover near the zero line. When the trendline is broken, these indicators could provide additional momentum.

On the downside, risks must be considered. If the bullish scenario fails and a correction deepens, the April low of $0.1298(April low) will serve as the first support level. If that level is broken, the price could fall further toward the October 10 low of $0.0950October 10 low, requiring close monitoring.