Dogecoin and Floki Inu Shine as Top Meme Coin Gainers Today
New data from CoinGlass today shows yet another increase in DOGE’s OI, which has lately skyrocketed to $1.07 billion. This substantial rise in open interest reflects traders’ hope and indicates more activity around the token.
With DOGE’s current Long/Short ratio of 1.0408, the market shows somewhat more long holdings than short ones over the past 24 hours. With more market players predicting the DOGE price to climb rather than decline, this ratio points to traders leaning optimistic on the token in the near term.
Price-wise, DOGE has had an amazing 8.84% increase over the last 24 hours, rising to about $0.1454. Popular crypto analyst Mags has highlighted historical patterns and an optimistic sentiment that encourage this outlook.
With a first rally target of $1.17 for DOGE, Mags says this historical trend could provide hints for the upcoming bull run. Although these estimates are hypothetical, the continuous growth and higher open interest point to a positive sentiment.
With more traders placing long positions in expectation of a price rise, the Long/Short ratio for FLOKI for the previous 24 hours sits at 1.0227, which, comparable to DOGE, shows a modest bullish bias.
Meanwhile, the FLOKI price increased by 8.13% over the last 24 hours at the time of writing, swapping hands about $0.0001617.
Beside that, technical analysis from well-known analyst ZAYK Charts, who lately tweeted about FLOKI’s chance for a significant comeback, supports this price movement.
Based on ZAYK’s chart analysis, FLOKI has breakout a falling wedge pattern—a positive indication usually preceding a major rally. Thanks to this breakthrough, ZAYK projects FLOKI could witness gains of 100% to 150% in the next few days or weeks.#MemeCoinTrending #BTCSoarsTo68K #USRetailSalesBoost