Dogecoin Futures Traders Make $1B Bullish Bets as Meme Token Surges 40%
• Traders are making record $1B bullish bets on Dogecoin (DOGE) futures, indicative of strong interest in the token • 70% of the bets are longing DOGE, expecting prices to rise further • DOGE prices up 40% recently before pulling back; significantly outperformed broader crypto market • DOGE now at overbought levels per RSI, indicating potential for price reversal • Meme tokens seen as attractive to retail investors due to cultural relevance, low unit price, and familiarity