CandleFocus

Dogecoin price falls, $15m liquidated: will it go back up?

Author: Content Editor
The price of Dogecoin (DOGE) has decreased by 6%, reaching its lowest level in almost a week as sentiment in the crypto industry worsened. The decline occurred in a high-volume trading environment, suggesting that some investors are liquidating their positions. This has resulted in significant liquidations and a decrease in demand for long positions as cryptocurrency prices retreat. The odds of the Securities and Exchange Commission accepting a DOGE ETF are low. However, some analysts expect Dogecoin's price to bounce back, as Bitcoin remains in a strong bull market. The current price action of DOGE is said to mirror previous patterns seen in 2023 and 2024, indicating the potential for a major upward move in 2025. Despite the recent drop, DOGE remains above key retracement levels and moving averages, with the possibility of rebounding to last year's high. However, there is a bearish alternative scenario that could see the coin drop further.

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