- DOGE traders have staked $22.64 million in Long Liquidation Leverage, all conveniently clustered between $0.1876 and $0.1984. Delightful, isn’t it?
- If DOGE manages to close above $0.1985, prepare for the gates to open wide, welcoming a 25% rally to $0.25. Well, if you believe in fairy tales…
Dogecoin [DOGE] has waltzed back into the limelight, all thanks to a squeaky clean breakout past local resistance. But just as optimism reared its head, something rather ominous lurked nearby, ready to put a damper on the mood.
Curious to know more? Stick around, as the ever-persistent AMBCrypto analysts spill their pearls of wisdom on DOGE’s price action!
Optimism soared… until THIS happened!
A mysterious whale decided to move a staggering 155 million DOGE to Robinhood, according to Whale Alert. Anonymity is the name of the game, it seems.
Such transfers tend to send a ripple of concern through the market, especially after a rally. The question on everyone’s lips: “Is this the start of a sell-off?”
While we cannot confirm anything just yet, the timing alone is enough to stir up some trader anxiety. After all, when whales move tokens to centralized exchanges, it often means they’re gearing up to cash out. Not exactly the ideal scenario for a bullish trend. Unless, of course, retail traders or derivatives decide to stir the pot and push prices higher. But, who knows?
Fear the whale… but listen to the data, darling!
Digging deeper into the activities of traders and investors, it appears the bulls are still very much in charge. According to CoinGlass, these traders have been enthusiastically betting on DOGE’s upward potential, with positions stacking up.
At the time of writing, DOGE boasts a whopping $22.64 million in Long Liquidation Leverage. Quite impressive, especially when you consider that the Short Liquidation Leverage amounts to a mere $18.85 million. This suggests a definite preference for the bullish side of the market.
The majority of this leverage is concentrated in the price range between $0.1876 and $0.1984. A potential liquidation magnet, perhaps?
Should the price continue climbing, expect this cluster to become a focal point for a short squeeze, with further upside movement as a delightful bonus.
In addition, Binance and Bybit are seeing significant long liquidation leverage, further underscoring the market’s bullish conviction.
And it doesn’t stop there. The spot market tells its own tale of optimism.
In the past 24 hours alone, exchanges recorded an outflow of $6.32 million in DOGE. Apparently, people aren’t just talking; they’re moving, and perhaps accumulating too.
This substantial outflow, in the wake of the breakout, suggests some rather significant accumulation. Could it set the stage for an explosive rally? Only time will tell, but don’t hold your breath.
6.5% in 24 hours—just the warm-up?
As of now, Dogecoin is trading around $0.195, with a delightful 6.5% gain in the past 24 hours. Naturally, this has caught the eye of traders, with trading volume jumping by 65%. Because who doesn’t love a bit of action?
According to AMBCrypto’s chart analysis, the memecoin is currently riding high and could soon launch into a massive rally. The price broke through a descending trendline, and after a 5% jump, it reached the local resistance level at $0.196. Clearly, it’s eyeing a potential breakout.
But wait, there’s more! The real challenge looms ahead.
If DOGE manages to close above $0.1985, prepare for a dramatic move toward $0.25, which would represent a 25% rally. Quite the spectacle, if you ask me. Watch closely, if you dare!
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2025-06-11 09:50