Dogecoin price pulls back to $0.236 as long liquidations rise
Dogecoin is trading around $0.236 as of Thursday, retracing from a sharp move toward $0.29 earlier this week. The pullback follows a failed breakout above the upper boundary of a long-term descending channel, triggering a wave of profit-taking and long liquidations across major derivatives exchanges.
Highlights
- Dogecoin price drops to $0.236 after rejecting resistance near $0.29 amid high leverage unwind
- Over $52.9M in liquidations recorded, with Binance and Bybit leading the long flush
- Key support zone at $0.22–$0.20 aligns with EMA cluster and past breakout levels
Technical momentum has eased, with the daily RSI slipping to 60.56 from an overbought 70.99. DOGE is now testing its 20-day EMA at $0.2209, a level that may determine whether the recent bullish structure holds or gives way to renewed downside pressure. The $0.22–$0.20 area, bolstered by the 50-EMA and a horizontal support zone, is now viewed as a crucial near-term demand region.
Derivatives flush intensifies as bulls lose control
DOGE’s derivatives markets have seen aggressive unwinding in the past 24 hours, with total liquidations topping $52.93 million. Long positions accounted for over $45 million of that, reflecting a broader leverage reset after the overheated rally. Bybit saw $5.8 million in long liquidations alone.
DOGE price dynamics (Source: TradingView)
Binance’s long/short ratio remains elevated at 3.26 among retail accounts and 4.49 among top traders, underscoring continued bullish bias despite the flush. OKX data also shows a 2.4 long skew. Volume surged over 74% to $17.65 billion, while open interest fell 14.19%, confirming mass position exits. Options data revealed a 40% decline in volume but a 17% rise in open interest, suggesting traders are rotating into hedged structures.
Outlook: DOGE eyes $0.265 if support holds
With DOGE now hovering near a critical support confluence, buyers must defend the $0.22–$0.20 region to maintain bullish structure. A rebound from here could open the door for a move toward $0.265 and possibly a retest of $0.285. However, failure to hold this zone could send price back toward $0.16 or lower.
In our earlier analysis, we highlighted DOGE’s breakout from the $0.14 range and flagged the $0.29–$0.30 region as a potential exhaustion point. That projection played out as predicted, with the latest correction now testing key support. Unless bulls re-establish momentum near $0.22, the risk of breakdown remains.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
