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Joao Wedson: Meme coin gains limited by focus on long positions

Joao Wedson: Meme coin gains limited by focus on long positions
Meme coins drift as traders favor longs

Joao Wedson comments that meme coin prices are not rising because market participants are concentrating primarily on opening long positions.

He points to DOGE and PEPE as clear examples where heavy long positioning has not resulted in price increases.

Wedson has previously suggested that Bitcoin's price bottom could occur before the GTA 6 launch, anticipating a shift in crypto sentiment afterward, according to a recent article. In another warning, he highlighted that $1.4 billion in Bitcoin positions could be at risk of liquidation if prices drop to $53,500 as traders increase leverage, as reported here. His latest comments follow these earlier assessments of leveraged positioning in digital asset markets.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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