Dogecoin DOGE/USD may be in a corrective phase, but that hasn’t deterred derivatives traders from amping up bullish bets on the meme coin.

What happened: More than 72% of all Binance traders with open DOGE positions were long as of this writing, according to Coinglass, suggesting hopes of a short-term price spike.

The percentage of traders bullish on Dogecoin has steadily increased from 68.2% to the current value over the last three days. Interestingly, DOGE’s price retreated nearly 9% during this period.

Furthermore, over 75% of Binance’s top traders, those possessing a higher level of expertise compared to retail investors, were positioned long on DOGE as of this writing.

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