DOGE just hit a 3-week high reaching $0.10 and the movement is quite interesting. Since dropping from $0.090, the coin has been with strong momentum, reversing the 20 and 50-day moving averages. Today trading at $0.10 with +4.8% for the day and +4% for the week. The crowd is quite willing to take risks at this moment.

I checked the data on CoinGlass and saw some cool things happening. Open Interest increased 10% to $1.2 billion, but derivatives volume fell 23% — basically accumulation of positions with less movement. Interesting flow: $718 million entering futures while $662 million are exiting, resulting in a net +$55.68 million ( gain of 42%). This indicates people betting on the rise and covering shorts. By the way, more than $2.7 million in shorts have been liquidated, which helps push the price even higher.

But hey, there’s also a warning sign. CoinGlass data shows increasing deposits on the exchange since DOGE hit $0.097 — spot flow increased by $97 million against $93 million in withdrawals, leaving a positive net flow of +$4.2 million. This usually means strong selling pressure on the exchange. If this selling pressure continues, it could interrupt the trend and pull the price back to $0.092. For now, the bulls are in control (Bulls vs Bears at 25.5), RSI at 58, but keep an eye on this outflow.