Dogecoin has once again stolen the market’s attention.
This time, popular analyst Master Ananda shared an interesting analysis: Dogecoin has just completed a perfect ABC correction pattern, a formation that often signals an early price surge.
According to him, this is the perfect time to prepare. Imagine if you knew in advance that something big was about to happen — would you take the opportunity, or just watch from the sidelines?
Master Ananda said that this correction pattern has found strong support. He also highlighted that Dogecoin is still trading in the low price range, an area that is often a “gold zone” for profit hunters.
Not only that, he emphasized that the small bullish movement that was seen was only the beginning, and the consolidation phase was over. In other words, the train has started its engine.
Source: Master Ananda on TradingView
Trading Volume Surges as Whales Double Down on Dogecoin
On the other hand, another signal that strengthens optimism comes from the activity of whales. In mid-April, as we reported, Dogecoin whales accumulated around 1.83 billion DOGE, with a value of US$640.5 million in just two days. This is not a small amount, especially considering that whales usually move based on strong conviction in the market’s potential.
Furthermore, CoinGlass data shows that Dogecoin’s daily trading volume jumped 6.88%, touching $3.06 billion. This increase occurred along with increasing positive sentiment from the technical side. However, open interest in the DOGE futures market actually fell 1.24% to $1.86 billion.
Source: CoinGlass
Although at first look it seems contradictory, this is actually considered healthy because it shows a natural position adjustment after the volume spike.
Meanwhile, Dogecoin’s options volume also moved up by 9.11%, with options open interest increasing by 7.39%. This amount, although it looks small when compared to spot volume, still shows how speculative interest and hedging on DOGE are increasing. This means that the market as a whole is building a foundation for the next movement.
It doesn’t stop there. The long/short ratio based on accounts in the Binance DOGE/USDT pair was recorded at 2.6643. This means that the number of accounts taking long positions is more than twice as many as short positions. Just think: if the majority of market players are starting to lean towards the optimistic side, isn’t that a signal worth taking into account?
New DOGE Investment Product Boosts Institutional Appeal
Adding to the excitement around Dogecoin, on April 9, 2025, 21Shares AG — one of the leading crypto investment product providers — announced an exclusive partnership with House of Doge. They launched a Dogecoin-based investment product (ETP) supported directly by the Dogecoin Foundation.
The presence of this product certainly strengthens Dogecoin’s legitimacy in the traditional financial world, while opening wider access for institutional investors.
Master Ananda also closed his analysis with one simple message: DOGE is currently in a low-risk zone with high-yield opportunities. He suggested that for those who are ready to act, “buy and hold” could be the step that changes everything. Moreover, the opportunity for an increase of up to 333% is wide open before our eyes.
Meanwhile, as of the writing time, DOGE is swapped hands at about $0.1789, up 9.51% over the last 7 days.