DOGE saw a small rise a week ago, following the popularity of Ethereum ETF spot, and rose 8% in one day. But now the chart is trending down

Data shows that most Dogecoin holders (83%) are profitable at the current price. Therefore, long-term investors are in a good position despite recent losses. It is worth noting that 63% of the Dogecoin supply is held by whales. The strong correlation with Bitcoin (0.86) may indicate that the price movement of Dogecoin is largely affected by broader market trends (especially Bitcoin trends)

Last week, the inflow and outflow of exchanges were almost equal, at $221.14 million and $221.68 million, respectively, which may indicate balanced buying and selling activities by investors. In fact, Dogecoin's position has been consolidated because neither longs nor shorts can dominate.

The sudden surge in short liquidations of Dogecoin corresponds to the sudden rise in prices, indicating that the rapid upward trend forced shorts to exit their positions at a loss. The overall trend shows a mix of long and short liquidations, but neither has increased consistently, suggesting that the market is characterized by speculative trading and sudden price changes rather than consistent directional movement.

This liquidation pattern may also be consistent with DOGE's continued price performance, with short-term rallies and adjustments also characteristic of the market. As with typical meme tokens, a look at the monthly chart of Dogecoin shows that it is struggling with volatility and market sentiment. For example, over the past month, DOGE has shown a series of fluctuations, but has mainly fluctuated within a limited price range of about $0.135 to $0.175.

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