Dogecoin, the king of meme coins, showed no forced short liquidations as short sellers disappeared. CoinGlass data indicate that traders were not liquidated during recent price moves, suggesting a shift in sentiment. The absence of liquidations may reflect that most traders were long on DOGE and bullish on the price.
Dogecoin rose about 4.35% during the period, with this bullish momentum possibly reducing short bets. Nonetheless, a market-wide pullback pushed DOGE lower, trading around $0.0943 after a 4.6% drop in the last 24 hours. Volume rose to about $1.81 billion, up roughly 28%.
Interestingly, at the start of the trading week, Dogecoin surged in volume after forming a golden cross, which drew more engagement as traders anticipated a rebound. It remains to be seen whether DOGE can break through the $0.10 level. If Bitcoin recovers, it could support DOGE’s rebound.
Leave a Reply