Meme coins have recently seen a collective rebound, and Dogecoin (DOGE) has finally caught its breath. As of press time, DOGE is trading at $0.092 , up slightly by 1.86% in the last 24 hours, with trading volume increasing by 7% and surpassing $1 billion , indicating that this rebound is supported by real money.
But don't rush to call it a "bull market reversal," as the market is currently showing two completely opposite signals.
🛒 Spot Market: Buyers Enter to "Lock Up" Positions
Over the past few days, bulls have been trying to hold the key $0.09 level, but have been repeatedly pushed down. This time, with the market recovering, buyers finally stepped in and successfully pushed the price up.
After briefly falling into negative territory, the bullish/bearish indicator turned positive again, rising to 6.8 , indicating that buying power began to suppress selling pressure.
More importantly, the flow of funds: $82.79 million flowed out of the spot market, while $68.64 million flowed in, resulting in a net outflow of $14.25 million , a decrease of 148%.
At first glance, the net outflow appears negative, but the "outflow" here refers to tokens being transferred out of exchanges, meaning buyers are withdrawing or locking up their tokens, reducing the supply available for sale. This structure often creates conditions for price increases.
📉 Futures Market: Long Positions Still Being "Liquidated"
Contrary to the positive signals in the spot market, the futures market remains pessimistic. In the past 24 hours, over $2.8 million in long positions were forcibly liquidated. This "buying high and getting trapped" situation has made traders hesitant to add to their positions.
Data shows that the futures market saw a net outflow of over $608 million , indicating that most participants chose to close their positions and leave the market, with a significant decrease in risk appetite. This creates an interesting situation: spot buying is happening, while futures are selling . One side wants to support the price, while the other wants to dump it, leaving Dogecoin caught in the middle.
🔮 What's next?
From the stochastic RSI, the momentum indicator has just formed a golden cross, rising from 7 to 23 , indicating increasing buying pressure. However, the problem is that it remains deep in oversold territory, and selling pressure remains strong. More alarmingly, trend prediction models suggest that Dogecoin may test lower levels again.
If selling pressure dominates in the futures market, prices could fall below $0.09 , testing $0.086 , or even touching the key support level of $0.08.
If spot buying continues to outpace futures selling pressure, the price is expected to hold above $0.09 and potentially challenge $0.106 .
✅ Summary
Dogecoin is currently at a crossroads: In the spot market, buyers are entering and withdrawing their holdings, reducing supply and creating conditions for a price increase. In the futures market, long positions continue to be liquidated, funds are fleeing, and pessimism persists.
The next step is to see which side has the stronger force. In the short term, $0.09 is the bulls' defense line and also a dividing line for market sentiment.
