The data provided indicates that market sentiment is mixed, with both inflows and outflows showing significant activity. Net inflows in contract positions and spot have shown a significant negative trend over the past 24 hours, with outflows of around -3.9 million, which could indicate bearish sentiment among traders. However, the 24-hour price increase of 0.06% and the distribution of spot trades in the range of 0.155 to 0.171 indicate a certain degree of buying interest.
The long-short ratio increased from 3.2247 to 3.2966, indicating a slight shift to a more bullish stance, although the contract volume decreased by 0.55%, which could weaken the bullish outlook. The open interest increased significantly by 2.88% over the past 24 hours, indicating a growing interest in the contract market, which could lead to increased liquidity.
Considering the spot trade distribution, most of the trades are concentrated between $0.155 and $0.171, which could act as a support area. Negative net inflows over the past week and month suggest a continued bearish trend, but the recent slight price increase and rising long-short ratio suggest a possible recovery in the short term.
In summary, while the short-term trend may see some recovery due to the recent price increase and slightly bullish long-short ratio, the medium- and long-term outlook appears bearish based on the continued negative net inflows and declining contract volume. The price forecast for $DOGE in the coming week may see a slight recovery, but a bearish trend will be seen in the next month.
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