Dogecoin (DOGE) posted a modest rebound on Monday, climbing nearly 2% after sliding 3.57% in the previous session. While the recovery offers some short-term relief, the broader outlook remains uncertain as institutional participation softens and bullish momentum continues to erode.
Interestingly, derivatives markets tell a slightly different story. Long positions are increasing, pointing to expectations of a near-term bounce and driving higher capital inflows into DOGE futures.
Retail Interest Picks Up Amid Long Liquidations
According to CoinGlass, Dogecoin’s futures open interest rose 4.88% over the past 24 hours to $1.49 billion, signaling growing exposure in derivatives markets. This increase likely reflects new capital entering the market or traders deploying higher leverage.
Despite this, bearish pressure persists. Long liquidations reached $3.33 million during the same period, far outweighing $799,590 in short liquidations. This disparity suggests bears still dominate in the short term, with leveraged bullish positions being forced out during market pullbacks.
Still, early signs of improving sentiment are emerging. The long/short ratio climbed to 51.05% on Monday from 45.83% a day earlier, indicating a gradual return of bullish confidence among traders.
On the institutional side, Sosovalue data shows Dogecoin ETFs attracted $171,920 in inflows last week. However, all of those inflows occurred on Wednesday, with no net activity during the remaining sessions—underscoring the cautious and uneven nature of institutional demand.
Consolidation Range Under Threat
DOGE remains locked in a prolonged consolidation phase between the November 21 low at $0.13321 and the November 26 high near $0.15681. Although Monday’s rebound helped stabilize prices, the asset continues to struggle to firmly defend this support zone.
If bulls regain control and push DOGE above the upper boundary of the range, a technical recovery toward $0.15681 could follow, with further upside targeting Pivot R1 at $0.17882.
However, technical indicators still favor caution. The daily Relative Strength Index (RSI) hovers around 40, oscillating between neutral and oversold levels—an indication of weakening demand and persistent bearish undertones. Meanwhile, the MACD is nearing a potential bearish crossover, a signal that often precedes renewed downside pressure.
Should DOGE fail to hold the $0.13321 support, losses could accelerate toward the April low at $0.12986, with a deeper pullback potentially extending to Pivot S1 at $0.12319.
👉 Follow for ongoing crypto market analysis, on-chain insights, and derivatives data updates.
#DOGE #Memecoins
