DEXE’s price exploded with a 147% jump in just one day, backed by a sharp 161% rise in trading volume that topped $701 million. This rally wasn’t a flash caused by thin liquidity but a genuine wave of buying interest that sent its market cap close to $367 million.
What fueled the rally?
The surge followed a rebound from a support level near $3.91, with the token closing around $5.03 after recovering from a steep sell-off. Despite the quick ascent, the relative strength index (RSI) climbed only to about 30.4, signaling that selling pressure had eased but buyers hadn’t fully taken control yet.
On the derivatives front, Binance data showed that over 62% of top traders held long positions, maintaining a 1.64 long-to-short ratio. This suggested confidence in further gains rather than profit-taking after the rally. Long liquidations were around $584K, while shorts liquidated close to $1.6 million, reflecting heavier losses for bearish traders as buying pressure pushed prices higher.
Social sentiment played a supportive role but didn’t lead the price burst. DEXE’s net positive social score reached 4.68 out of 10, with community buzz partly driven by rumors of a Moonshot leaderboard listing. However, the overall Altcoin Season Index remained modest at 52, indicating a cautious market mood rather than widespread speculative frenzy. The data pointed to capital inflows as the primary catalyst rather than hype.
As the rally continues, traders should watch for growing long positions that might increase volatility if a sudden pullback forces leveraged players to unwind quickly.
This article is for informational purposes only and not financial advice.
