DOGE traders betting on recovery lose $4 million in long liquidations as Dogecoin price crashes 14%
Amid the Binance fiasco taking place on Tuesday, the market still witnessed optimism among DOGE investors despite the Dogecoin price falling for the past three days. ...
- Dogecoin price has crashed by 14% in the last three days, erasing a portion of the recent 48% gains.
- $4 million worth of long liquidations have occurred, disappointing bullish DOGE traders.
- Despite the crash, there is still optimism among investors regarding a recovery, as indicated by positive funding rates across exchanges.
- The MACD indicator suggests a bearish momentum, with a potential decline to the crucial support level at $0.0700.
- However, if DOGE bounces off $0.0747, it could recover most of the recent losses and have a chance at reclaiming $0.0800.
- Dogecoin investors and traders have faced losses, with over $4 million lost in the past 24 hours and more in the last three days.
- Despite the losses, the positive funding rate indicates that more traders are taking long positions, expecting the price to rise in the future.
The sentiment in the article is mixed. While there has been a crash in Dogecoin price and losses for investors and traders, there is still optimism among some regarding a potential recovery.