Is Dogecoin About to Make Your Wallet Wagger Feel 24% Fatter? 🐕💸

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  • Ah, the faithful DOGE Long/Short Ratio—traders have declared a passionate affair with long positions, leaving shorts sulking in the corner.
  • On-chain sorcery unveils an exodus of over $3.75 million worth of DOGE escaping the cold clutches of exchanges.

Once wandering in the gloomy valley of downtrends, our dear Dogecoin, that capricious canine of crypto, now pirouettes toward a sunnier stage—bullish sentiment tiptoeing in like an unexpected guest at a dull soirée.

Recent on-chain affairs whisper secrets that the long side is where the belles and beaux gather, their daily chart performing a daring bullish breakout—how positively theatrical!

Coinglass, the oracle of on-chain analytics, reports a steady stream of outflows, assets fleeing exchanges for the cozy refuge of wallets—a gesture as flirtatious as a wink over the garden hedge.

Spot Inflow/Outflow metrics reveal exchanges have lost over $3.27 million of memecoins in the last 24 hours—an evacuation that could inspire hope or panic, depending on your cocktail.

Dogecoin outflows graph

Such a brisk exodus suggests accumulation, or perhaps a grand conspiracy to spark a buying frenzy and send prices on a merry dance upward, as collective crypto sentiment tries desperately to look optimistic.

Traders’ Eyes Fixated on Long Bets

Besides the great migration, the DOGE Long/Short ratio sits coyly at 1.116, signaling a bullish courtship among traders who clearly prefer a lovestruck long position over dour shorts. A number above 1—how charmingly optimistic!

This ratio prattles not only of positive vibes but also of a market that prefers to flirt with gains rather than wallow in losses—a refreshing change amid the usual melancholy of bearish gloom.

DOGE Long/Short ratio chart

Putting these metrics together like pieces of a scandalous puzzle, the bulls appear to monopolize the stage, perhaps finally coaxing DOGE out of its sulk and into the spotlight.

Dogecoin’s Technical Ballet and Forbidden Levels

According to AMBCrypto’s crystal ball—also known as technical analysis—DOGE has dramatically leapt above a descending trendline that had imposed tyranny since January 2025.

DOGE technical chart

Previously, this line had been a relentless gatekeeper, meting out selling pressure and price plunges worthy of a Greek tragedy. But with this breakout, perhaps the chorus of bears will finally fall silent.

If DOGE manages to close its daily ball at more than $0.165, it could prance upwards by 24%, sashaying to $0.207 in the coming days. How delightfully optimistic, though one must remember the memecoin still tiptoes beneath the 200-day EMA—bearish chills still linger.

Meanwhile, the Relative Strength Index (RSI) lounges near 50, caught in a state of neither overindulgence nor starvation, suggesting DOGE has room to grow—or at least stretch its paws.

At press time, DOGE coyly traded near $0.1643, up a modest 1.50% in the past 24 hours, with trading volume puffed up by 15%, hinting that the crowd is growing more flirtatious by the day.

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2025-04-22 22:03