- Dogecoin has been struggling to remain in the $0.7 zone.
- DOGE buyers became less aggressive as bullish sentiment waned.
Despite what could be considered a firm start to the week, Dogecoin [DOGE] DOGE has been unable to sustain its momentum.
Dogecoin longs see liquidations
The surge in Dogecoin’s price on the 20th of January resulted in over $3 million in short liquidations, with long liquidations of around $460,000.
However, that marked the last occurrence of significant short liquidations, as long liquidations have dominated in recent days.
The chart showed a consistent trend of long liquidations, reaching its peak on the 22nd of January with over $3.8 million. On the same day, short liquidations were around $353,000.
On 23 January, long liquidations were over $2.7 million, while short liquidations were less than $200,000.
This liquidation pattern implied that traders speculating on DOGE’s price increase have suffered losses.
As of press time, the slight price uptick in DOGE has resulted in short l
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Author: Adewale Olarinde
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