Dogecoin Price Rally Targets $0.20 Turning 70% Binance Traders Bullish

By: bitcoin ethereum news|2025/05/08 22:30:02

Dogecoin (DOGE) price is up 8% today and trades at $0.18401, grabbing the market’s attention amid recovery. Technical signals and traders’ sentiment backing the recovery rally put Dogecoin on a track to surpass $0.20. With almost 70% of accounts on Binance holding long DOGE positions, the meme coin is likely to explode. Dogecoin Price Rally Targets $0.20 Dogecoin (DOGE) bounced from the 7-day low at $0.1643 and is up 12%, resulting in a breakout from the falling wedge setup. DOGE formed two lower highs and three lower lows over the past two weeks. Connecting the swing points using trend lines reveals a falling wedge pattern. After producing a decisive four-hour candlestick close above the wedge’s upper trendline, Dogecoin price has confirmed a breakout. The 12% target of $0.2061 is obtained by measuring the distance between the first swing high and swing low and adding it to the breakout point of $0.1774. Adding credence to this bullish breakout is the three consecutive green candles on the 4-hour price. Moreover, DOGE’s recent rally has pushed it above the 50 and 200 Exponential Moving Averages (EMAs), limiting the “death cross” chances on a lower time frame. Investors need to pay attention to the 78.60% Fibonacci level at $0.1860, which could interrupt Dogecoin’s price from reaching the falling wedge forecast of $0.2061. However, the Chaikin Money Flow (CMF) Index has flipped positive, indicating a pause in DOGE’s ascent is unlikely. Based on the Fibonacci levels, DOGE’s bull run could reach $0.2042 if it surpasses the $0.1860 level. Hence, the Dogecoin price prediction reveals a strong 12% growth potential for the meme coin. Conversely, the support levels for the biggest meme coin are at $0.1729 and $0.1642. Binance Traders Go Long Dogecoin Open Interest jumps 7.19% to hit $1.81 billion as derivatives traders’ interest surges. Joining the bullish caravan, 67.84% of Binance accounts are long on DOGE. Overall, the long positions in the market have surged to 62.94% over the last hour. Amid rising optimism, the shakeout of bears accounts for $3.71 million in short liquidations. At present, the funding rates have jumped to 0.0051%, reflecting a strong hopium spree in DOGE. Dogecoin Team Announces Second Hackathon Event in Portugal With DOGE price skyrocketing, the Dogecoin team has recently announced its second (almost annual) hackathon. DOGEATHON venues in Portugal this year and is between July 22 and 24. The attendance fee for the event is 269 DOGE, almost $50. Frequently Asked Questions (FAQs) Dogecoin surged nearly 7% due to a breakout from a falling wedge pattern and increased bullish sentiment among traders. Based on technicals, DOGE could reach the $0.2042 mark if it breaks above the $0.1860 resistance. Over 67% of Binance traders are long on DOGE, with Open Interest rising to $1.81 billion and short liquidations hitting $3.71 million. ✓ Share: Coingape Staff CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/markets/dogecoin-price-targets-0-20-as-67-of-binance-traders-go-long/

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.

Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.

Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps

Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.

The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position

The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.

Social-Native Trading: Strategy and Execution Completed in the Same Context

Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying

On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.

By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.

Referral Mechanism: Non-institutional users can receive up to 60% fee split

Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings

This model aims to drive user-driven network expansion and organic growth.

Self-Custody Architecture and Built-in Privacy Mechanism

Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:

· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure

The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.

A New Path for On-Chain Derivatives

Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.

The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.

Regulatory Background

Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.

This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."

The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.

About Mixin

Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.

Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication

Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.