Dogecoin Maintains Buy Zone Structure with Strong Derivatives Support

• Dogecoin trades above the channel midline, reinforcing a bullish structural trend with demand at shaded support zones.
  
• Binance and OKX long/short ratios exceed 2.0, showing strong trader conviction for continued upside momentum.
  
• Over $17M in short liquidations within 24 hours confirms persistent bearish pressure failing against upward moves.

Dogecoin is sustaining its long-term structural uptrend within a rising channel, while derivatives metrics show strong long positioning and ongoing short liquidations. The combined technical and market data point toward continued bullish control, supported by robust demand zones.

Structural Support within the Rising Channel

The weekly chart for Dogecoin reflects a rising channel pattern, with a broad shaded support band serving as the market’s base. This demand zone has repeatedly acted as a launchpad for sustained rallies in past cycles.

Ali (@ali_charts) reaffirmed Dogecoin as “still in the BUY zone,” a view consistent with structural behavior. Price action has respected the lower boundary of the channel with repeated retests, each followed by constructive bullish reactions from buyers.

The current structure places the price above the channel’s median line, which has alternated as resistance and support across previous legs. A confirmed breakout above this midline often leads to extensions toward the upper boundary.

Breakout Dynamics and Technical Targets

Recent breakouts through short-term resistance have produced strong weekly candles, showing the market’s ability to hold gains. Importantly, the breakout remains intact, with no decisive weekly reversal threatening the underlying trend.

Measured technical targets derive from channel geometry and prior swing highs. Historical behavior suggests that price often gravitates toward the mid and upper channel regions after retesting the shaded base.

The upper boundary and the 2021 peak remain reference points for traders. These zones provide logical objectives for staged profit-taking while maintaining focus on channel-driven structure.

Derivatives Data Reflecting Trader Conviction

Dogecoin is as of the time of writing, priced at $0.2855, with a 24-hour trading volume of $5.22B, marking a 9.93% daily increase and a 32.33% weekly gain.

Long/short ratios across major exchanges show strong bullish positioning. Binance’s account ratio stands at $2.4352, with top traders leaning further at $3.3328. Positions data reaches $4.3504, while OKX registers at 2.07.

Liquidation metrics confirm this momentum. In the last 24 hours, $20.87M was liquidated, with $17.86M from shorts. Even shorter windows reveal pressure against bearish bets, fueling continued upward acceleration.