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Home Dogecoin

Dogecoin Rally To $0.35 Could Trigger Massive Short Squeeze

n70products by n70products
January 28, 2025
in Dogecoin
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Dogecoin Rally To $0.35 Could Trigger Massive Short Squeeze
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Dogecoin (DOGE) may very well be on the cusp of a big value transfer that may ignite a robust quick squeeze, based on analyst Ali Martinez (@ali_charts). He pointed out on January 27, through X, that “$766.45 million briefly positions might be liquidated if Dogecoin DOGE rebounds to $0.35,” implying that bearish merchants stand on precariously skinny ice.

Huge Dogecoin Quick Squeeze Incoming?

A take a look at the up-to-date liquidation heatmap from Coinglass exhibits hefty quick positions clustered between roughly $0.339755 and $0.34368. Coinglass knowledge exhibits $464.8 million at $0.339755, $534.79 million at $0.34054, $503.97 million at $0.341325, $433.04 million at $0.34211, and $325.29 million at $0.34368, bringing the entire to round $2.26 billion in potential compelled liquidations.

DOGE Liquidation Heatmap
DOGE Liquidation Heatmap | Supply: Coinglass

That determine underscores the magnitude of a potential short squeeze ought to DOGE climb above that tight vary. Coinglass describes its heatmap as a means “to foretell the place liquidation ranges are more likely to provoke,” and has additionally underscored that “liquidations play an important function within the cryptocurrency market” as a result of they’ll affect fast value swings when merchants with massive leveraged positions are compelled to shut out.

Associated Studying

Coinglass emphasizes the worth of understanding “excessive liquidity areas,” since they’ll function magnet zones the place huge gamers, generally known as whales, seize the chance to execute sizable trades. Merchants usually bounce on liquidation clusters at advantageous costs, which then paves the way in which for sharp reversals. Within the case of Dogecoin, that magnet zone is now sitting just under $0.35.

Martinez’s evaluation of DOGE aligns with the broader technical image, which suggests the token could also be at a make-or-break juncture. Since December 8, when Dogecoin briefly surged to $0.4834, the worth motion has been outlined by a descending trendline. Though DOGE broke above this line on January 15, 2025—indicating a possible bullish shift—broader market volatility on January 26 shortly dragged it again beneath.

Dogecoin price
DOGE faces an important second, 1-day chart | Supply: DOGEUSDT on Tradingview.com

The result’s a state of affairs by which the descending line, now round $0.335 to $0.34, stands as a formidable barrier. A profitable breach of that zone may very well be pivotal, particularly given the sheer focus of shorts that Coinglass has recognized simply above it. Ought to DOGE rally sufficient to pierce that stage, merchants holding quick positions could also be compelled to cowl shortly, and that wave of shopping for stress can quickly speed up an upward transfer.

Associated Studying

In the meantime, DOGE stays above the essential 0.382 Fibonacci retracement close to $0.313, a help stage that prevented additional draw back through the newest market sell-off. The subsequent technical help lies deeper on the chart, close to $0.212 (0.236 Fibonacci retracement), the place merchants might be watching intently for any signal of weakening momentum.

On the upside, the 0.5 retracement at $0.394 stays a key pivot. A sustained restoration above that threshold may spark better bullish confidence, with potential resistance rising once more across the 0.476 to 0.592 area if Dogecoin can regain sufficient pressure.

Featured picture created with DALL.E, chart from TradingView.com



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