Why Dogecoin Investors Should Worry About DOGE’s Price

TL;DR

Binance futures traders are highly bullish on DOGE; but this typically leads to a move in the opposite direction, as history has shown.
On the other hand, whales have bought up recently, and the community still posts big predictions for DOGE’s price moves.

Binance Futures Traders Going Long

Renowned crypto analyst Ali Martinez posted earlier today that the majority of futures traders on Binance who are betting on DOGE have gone full-on bullish. Over 72% of all futures positions opened at the world’s largest crypto exchanges are longs, meaning they expect the asset’s price to go higher.

72.13% of traders on Binance with open #Dogecoin $DOGE positions are currently long! pic.twitter.com/ejIyI8lUoJ

— Ali (@ali_charts) April 15, 2025

That hasn’t been the case so far, and DOGE currently sits at $0.154 (4.1% lower than yesterday) as it was rejected at the $0.17 resistance earlier this week.

Moreover, history shows that too many longs (or overall bullish sentiment) spells trouble for the underlying asset. Binance traders were similarly optimistic about DOGE’s price moves in late March when over 76% of all futures positions were longs. At the time, the OG meme coin stood at above $0.19.

Not only has it never traded higher since then, but it actually plunged to $0.16 two days later and all the way down to $0.13 during the market sell-off on April 7, prompted by Trump’s Trade War.

DOGE is not an isolated example, as XRP’s price has shown similar trajectories after Binance futures traders went long. Just yesterday, CryptoPotato reported that 66.86% of such market participants have opened long positions on Binance. XRP is down by 4% today, but this article has even more painful examples.

Whales Buying

In the opposite corner stand Dogecoin whales, which went on an accumulation spree in the past few days, acquiring more than 800 million DOGE. As whales are typically middle- to long-term players, such big purchases reduce the available supply and can trigger FOMO among smaller investors.

Analysts are still bullish on Dogecoin’s future price movements, predicting price surges of up to 3x. More recently, Crypto School posted a chart for DOGE’s short-term trajectory, indicating that the asset is at a ‘pivotal juncture’ that could see it going to as high as $0.23 or dropping to $0.11 depending on the next few days.