Dogecoin (DOGE) extends its decline, trading around $0.19 on Tuesday after falling nearly 17% the previous day.
Dogecoin price is extending its decline on Tuesday after falling nearly 17% the previous day. The recent correction in DOGE has liquidated over $20 million while its long-to-short ratio reads below one, hinting at a downtrend continuation.
The technical outlook projects a correction toward the $0.14 level. Dogecoin extends its decline, trading around $0.19 on Tuesday after falling nearly 17% the previous day. The recent correction in DOGE has triggered a wave of over $20 million in liquidations in the last 24 hours and more than $100 million last week. The technical outlook and long-to-short ratio suggest a further pullback targeting the $0.14 mark. Dogecoin price dips, wiping over $20 million in the last 24 hours Dogecoin price declined almost 17% on Monday and continues its downward trend on Tuesday by declining nearly 4% during the Asian trading session. This correction has triggered a wave of liquidations, resulting in over $20 million in liquidations in the last 24 hours and more than $100 million last week, according to data from CoinGlass. Strong liquidations like this could spark Fear, Uncertainty, and Doubt among DOGE investors, even with Musk’s support, raising selling pressure and leading to a further decline in Dogecoin price. Dogecoin liquidation chart last 24 hours. Source: Coinglass DOGE total liquidation chart. Source: Coinglass Another bearish sign is Coinglass’ DOGE long-to-short ratio, which reads 0.86 and continues to fall, reaching the lowest monthly level. This ratio below one reflects bearish sentiment in the markets as more traders are betting on the asset price to fall. DOGE long-to-short ratio chart. Source: Coinglass Dogecoin bears aiming for $0.14 mark Dogecoin price faced rejection around its 50% price retracement level at $0.27 on February 15 and declined nearly 26% in two weeks. However, DOGE recovered 20% during the weekend but continued its decline on Monday. At the time of writing on Tuesday, it continues to trade down by 3.4%, around $0.19. The Relative Strength Index on the daily chart reads 33 after rejecting around its neutral level of 50 and approaching its oversold level of 30, indicating a strong bearish momentum. The Moving Average Convergence Divergence indicator also showed a bearish crossover, hinting at a further downtrend. If DOGE continues its correction and closes below the $0.18 weekly support level, it could extend the decline to test its November 3 low of $0.14. DOGE/USDT daily chart However, if DOGE finds support around the $0.18 weekly level and recovers, it could extend the recovery to retest its 50% price retracement level at $0.27. Related news Bitcoin Price Forecast: BTC corrects after sharp recovery during the weekend ETH sellers mount $1.8B resistance as tariffs nullify bullish catalysts from Trump and Ethereum Foundation US President Donald Trump: 25% tariffs on Canada and Mexico to start Tuesday
Cryptocurrencies Technical Analysis Liquidity
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
208 Million Dogecoin (DOGE) Stuns Major US Exchange CoinbaseDogecoin (DOGE) eyes mysterious $64 million whale activity on Coinbase
Read more »
XRP, DOGE News: XRP, Dogecoin Plunge 25% as Crypto Liquidations Cross $2.2BMost major altcoins are down 40-50% in the past month, data shows, making it one of the steepest dives in recent years.
Read more »
Dogecoin Creator Reveals Plans for Near Future - Is He Writing DOGE Book?Billy Markus has intrigued the DOGE community with his recent tweet about writing a book
Read more »
750,000,000 DOGE: Dogecoin Whales See Meme Coin Price DipDogecoin whales jumped at chance to buy up 750 million DOGE just as more and more people start to talk about DOGE ETF
Read more »
Major Meme Coin Dogecoin (DOGE) on Verge of 20% Crash, Popular Indicator SignalsBollinger Bands reveal 20% crash opportunity for cryptocurrency market's most beloved meme coin Dogecoin (DOGE)
Read more »
Why is Dogecoin (DOGE) falling?Dogecoin (DOGE) extends its decline, trading around $0.23 on Monday after falling 8.55% last week.
Read more »