Dogecoin Rallies Above $0.10 After $4.09M in Shorts Liquidated
Dogecoin (DOGE) surged above $0.10 after a concentrated short-liquidation event that erased about $4.09 million in short positions over 24 hours and $1.57 million within a single hour, according to CoinGlass. Total DOGE liquidations across 24 hours reached approximately $5.14 million, while long liquidations were minimal (~$119,640), indicating a heavily one-sided unwind. DOGE traded near $0.1038 at the time of the latest report, up roughly 12–13% in 24 hours after breaking out from a $0.095–$0.098 consolidation band. Analysts characterize the move as a short squeeze driven by overleveraged retail positions rather than a confirmed fundamental reversal: DOGE still faces descending resistance on the daily chart. Traders will likely watch for sustained closes above $0.10 and subsequent breaks of higher resistance levels before treating the move as a trend change. Key SEO keywords: Dogecoin, DOGE price, short squeeze, liquidations, crypto trading.
Bullish
The immediate price impact is bullish for DOGE: concentrated short liquidations forced a rapid squeeze, lifting price over $0.10 and producing a 12–13% 24-hour gain. Short-term the event reduces bearish pressure by removing overleveraged short positions and can spark momentum-driven follow-through as short-covering attracts additional buyers. However, analysts caution this is not definitive evidence of a fundamental trend reversal — DOGE remains below longer-term descending resistance on the daily chart. For traders, the setup suggests a higher probability of continued upside in the near term if DOGE posts sustained daily closes above $0.10 and clears subsequent resistance zones; failure to hold gains could lead to renewed selling as the move may be exhausted or purely squeeze-driven. Therefore the news is bullish in the short term but requires confirmation for a persistent trend change.