🐋 Whale Sell-Off Sparks Decline
DOGE plunged 17.64% in 24 hours, with monthly losses hitting 36.43%. Whales holding 100M+ $DOGE dumped 270M tokens, intensifying market losses. Their sell-off triggered further bearish sentiment, pushing the price downward.
📊 Derivatives Turn Bearish
Key metrics show traders betting against DOGE. The Funding Rate turned negative (-0.0245%), indicating sellers dominate. Open Interest (OI) dropped 30.08% to $2.53B, signaling traders are closing positions, adding to the downward pressure.
💥 Dogecoin Longs Get Wiped Out
Bullish traders suffered heavy losses, with $69.46M in long liquidations vs. just $18.94M in short liquidations. In the last hour alone, $2.31M in longs were wiped out, compared to just $99K in shorts, reinforcing the bearish outlook.
📉 Will DOGE Hit New Lows?
If bearish momentum continues, DOGE could face further declines as retail traders follow whales in exiting positions. A strong buying wave is needed to reverse the trend and stabilize prices.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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