Dogecoin (DOGE) has surged 23%, outperforming rivals like Shiba Inu and Pepe. This rise is fueled by short-term holders extending their holding periods, indicating a shift towards long-term investment. This tactic reduces selling pressure and stabilizes DOGE's price.
DOGE's short-term holders play a crucial role. As they hold longer, it increases stability and potential for upward momentum. Supported by a positive funding rate, signs point to bullish sentiment and higher demand for leveraged longs.
For DOGE to continue its rise and potentially reach $0.48, these holders must maintain their strategy. A negative shift could result in DOGE dropping to $0.299.
