DOGE Price Pinned Against Lower Bollinger Band Amid Heavy Long Positioning
DOGE's price has been pinned against its lower Bollinger Band at $0.0703, down 3.53% on the session.
The top traders in derivatives are positioned 77.9% long, indicating a bullish conviction that could lead to a bounce.
However, spot volume on Binance is only $34.25 million for the session, which is considered thin.
This divergence between derivatives sentiment and spot market follow-through has been a recurring pressure point in meme coin cycles.