Dogecoin Hit Hard! Bulls Suffer Heavy Losses, Whales Bet on Rebound

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According to CoinGlass data, Dogecoin (DOGE) has experienced massive liquidations in the past 24 hours, with long position traders suffering significant losses. The total liquidation amount reached $11.18 million, of which $9.9 million came from long positions, far exceeding the $1.28 million from short positions.

Recently, the price of DOGE has been continuously declining, having reached $0.4761 earlier this month, but with the price falling below $0.3780, the chances of a rebound have become more challenging. The current price is $0.3171, down 5.46% in the past 24 hours, and trading volume has also decreased by 21.48%, consistent with the liquidation data.

Despite the price pressure, some Dogecoin whales have purchased 270 million DOGE during the recent price decline, worth approximately $89.64 million, showing their confidence in a future rebound.

However, the future price of Dogecoin remains uncertain, and whether it will see a significant rebound still depends on market trends.

Tune in to the live stream for a chance to catch the bull market!