Dogecoin records rare $0 short liquidations

Dogecoin recorded an unusual trading signal after short liquidations briefly dropped to $0, indicating a lack of bearish positions in the market. The development suggests traders were largely betting on the meme coin’s upward momentum, even as the price later slipped amid a broader crypto market pullback.

Dogecoin Records Rare $0 Short Liquidations

Dogecoin, widely known as the leading meme cryptocurrency, recently displayed an unusual trading pattern as short liquidations fell to zero dollars during a trading hour. Data from CoinGlass indicated that no short sellers were forcibly liquidated during that period, highlighting an absence of significant bearish positions in the market.

This rare occurrence suggests that the majority of traders were positioned long on DOGE, anticipating further price gains.

Why Short Liquidations Dropped to Zero

The lack of short liquidations could indicate that bearish traders either avoided placing new short bets or chose to manually close existing positions before reaching forced liquidation levels.

In such cases, traders typically exit positions early to limit potential losses, paying trading fees or accepting slippage rather than waiting for automatic liquidation by exchanges.

The situation also reflects strong bullish sentiment among traders who expected Dogecoin’s price to continue rising.

Recent Price Performance

Over the past seven days, Dogecoin has shown notable upward momentum, gaining more than 4% during the period. The rally contributed to the reduction in bearish bets, as traders anticipated continued strength in the meme coin.

However, the cryptocurrency later experienced a pullback following a broader correction in the digital asset market.

At the time of writing, Dogecoin was trading at $0.09429, marking a 4.61% decline in the last 24 hours.

Market Pullback and Resistance Pressure

The price drop came after Dogecoin faced rejection near a key resistance level. The decline was further amplified by weakness in Bitcoin, which often influences the direction of major altcoins.

Despite the price dip, trading activity remains strong. Dogecoin’s daily trading volume rose by nearly 28% to around $1.81 billion, reflecting sustained market interest.

Can DOGE Reach $0.10 Again?

Earlier in the week, Dogecoin experienced a surge in trading activity after forming a golden cross, a technical indicator where a short-term moving average crosses above a long-term moving average.

The signal typically attracts traders expecting a bullish trend reversal. As a result, market participation increased sharply, with trading volume rising significantly.

Whether Dogecoin can break through resistance and reclaim the $0.10 price level will likely depend on broader market conditions. A recovery in Bitcoin and renewed investor confidence could help support DOGE’s next upward move.