Altcoins News
By Evie Vavasseur
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Dogecoin (DOGE) ended June on a turbulent note, having shed over 14% of its value during the month. Despite a modest 5.
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What’s especially striking is the persistence of short positions even in the face of staggering losses. According to Glassnode, DOGE traders collectively held $132.
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This raises an important question: Why are short sellers holding on despite the significant downside exposure?
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One such metric is Taker Sell Volume, which continues to outpace buy-side activity. According to CoinGlass, 51.97% of DOGE trades on June 30 came from the short side.
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Another revealing metric is the Liquidation Heatmap, which shows concentrated liquidity clusters just below the current trading price of $0.165.
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Despite this bleak outlook, bullish players haven’t completely backed down. On June 30, bulls purchased around $5.
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However, that optimism may be losing steam. AMBCrypto noted that Dogecoin accumulation peaked at $105 million on June 9, and the volume has steadily declined since.
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Additionally, whale activity appears to have diminished. Large players are no longer leading the accumulation efforts, leaving retail investors to shoulder the bulk of the…
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Taken together, the technical and on-chain data suggest that DOGE could be headed for more downside if the current trends persist.
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Until clear support emerges or whale interest reignites, Dogecoin is likely to remain under pressure.
The Currency Analytics
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