- DOGE consolidates near $0.21 as OI holds $2.65B–$3.7B; whale moves 200M DOGE from Robinhood signal stealth accumulation.
- -75.6% Binance longs face 72% liquidations; traders add bullish bets despite $0.20 breakdown risks.
Dogecoin (DOGE) has stabilized near $0.21 despite broader market declines, with derivatives data suggesting traders are quietly adjusting positions rather than exiting. Open Interest (OI) for DOGE futures remains between $2.65 billion and $3.70 billion, signaling sustained liquidity even as prices fluctuate.
DOGE’s price has consolidated between $0.21 and $0.23 over recent weeks, avoiding the steeper drops seen in assets like XRP, which lost its $2.34 support. On May 26, 200 million DOGE (worth ~$42 million) were withdrawn from Robinhood, coinciding with a bounce from the $0.21 support level. Such moves often indicate accumulation by whales during periods of low retail participation.
On-chain metrics show flat growth in new and active addresses, reflecting muted retail interest. This lull contrasts with derivatives markets, where 75.6% of positions on Binance’s DOGE/USDT perpetual contracts are long—a bullish bet despite recent liquidations.
While long positions dominated, 72% of DOGE’s liquidations in the past 24 hours affected bullish traders. Despite this, new longs continue to open, suggesting confidence in a rebound. The stability of Open Interest indicates liquidity is not fleeing but rotating, creating a coiled spring scenario: a breakout above $0.23 could accelerate gains, while a drop below $0.20 risks cascading sell-offs.
The current phase resembles a “stealth accumulation” period, where institutional or whale buying occurs under the radar. If DOGE holds $0.21, it could attract momentum traders, pushing prices toward $0.25. Conversely, failure to defend this level might trigger panic selling, particularly given high leverage in derivatives.
Dogecoin (DOGE) is currently trading at $0.2271, reflecting a 1.3% increase in the past 24 hours and a 3.8% gain over the last 7 days. The coin’s monthly performance is up by 25.2%, which places it among the stronger performers in the meme coin sector.
Its market cap stands at over $33.9 billion, ranking it 8th in the global crypto market. The 24-hour trading volume is also healthy at $1.37 billion, showing a 9.2% increase, indicating rising investor interest.
