The price of Dogecoin (DOGE) has been declining, falling nearly 17% on Monday and continuing to decline by almost 4% during the Asian trading session on Tuesday. This correction has resulted in over $20 million in liquidations in the last 24 hours and over $100 million last week. The technical outlook and long-to-short ratio suggest that DOGE could experience a further pullback, potentially targeting the $0.14 mark. The strong liquidations may spark fear and uncertainty among DOGE investors, increasing selling pressure and causing a further decline in the price. The Coinglass DOGE long-to-short ratio reflects a bearish sentiment, with more traders betting on a price decrease. DOGE recently faced rejection around its 50% price retracement level and has been experiencing a strong bearish momentum according to the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicator. If DOGE closes below the $0.18 weekly support level, it could extend the decline to test its November 3 low of $0.14. However, if it finds support and recovers, it could retest its 50% price retracement level at $0.27.



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