Dogecoin: Assessing if bulls can push DOGE’s price past $0.25
The post Dogecoin: Assessing if bulls can push DOGE’s price past $0.25 appeared on BitcoinEthereumNews.com. Short liquidations totaled $387K, adding fuel to DOGE’s bullish momentum. MVRV and Open Interest trends supported continued price growth above $0.25. Dogecoin [DOGE] has reclaimed key technical ground after breaking out of a descending channel and retesting it as support. This confirms bullish structure, and price action has held steadily above the $0.22 level. At the time of writing, DOGE was trading at $0.2238 after gaining 3.37% in the past 24 hours. The $0.25 zone stands out as immediate resistance, having acted as a support-turned-supply zone in February. A successful break above this level could set the stage for a rally toward $0.35. However, failure to reclaim it decisively may expose DOGE to a short-term retracement. Source: TradingView Short liquidations dominate, reflecting growing bullish pressure On-chain liquidation data reveals a significant tilt in favor of bulls. On the 18th of May, short liquidations totaled $387K while long liquidations came in at only $65K. This sharp disparity suggests a market-wide short squeeze, as bears were forced to exit underwater positions. The liquidation imbalance typically accelerates price movement and creates upward pressure. Source: CoinGlass MVRV Z-score suggests room for further growth The MVRV Z-score for Dogecoin sat at 0.94, at press time, well below the 2.5 threshold often associated with overvaluation. This metric compares market cap to realized cap, offering insight into average holder profitability. A low score suggests minimal unrealized profits, meaning that most holders have little incentive to sell aggressively. Consequently, the current reading indicates healthy conditions for sustained upward price action. Source: Santiment Why is DOGE raising volatility concerns? DOGE’s Stock-to-Flow Ratio has surged to an unprecedented 99.53, indicating that the growth of circulating supply has significantly slowed or stopped, increasing perceived scarcity. However, such a sharp rise could also signal unusual market activity or upcoming volatility. Historically, sudden…
The post Dogecoin: Assessing if bulls can push DOGE’s price past $0.25 appeared on BitcoinEthereumNews.com.
Short liquidations totaled $387K, adding fuel to DOGE’s bullish momentum. MVRV and Open Interest trends supported continued price growth above $0.25. Dogecoin [DOGE] has reclaimed key technical ground after breaking out of a descending channel and retesting it as support. This confirms bullish structure, and price action has held steadily above the $0.22 level. At the time of writing, DOGE was trading at $0.2238 after gaining 3.37% in the past 24 hours. The $0.25 zone stands out as immediate resistance, having acted as a support-turned-supply zone in February. A successful break above this level could set the stage for a rally toward $0.35. However, failure to reclaim it decisively may expose DOGE to a short-term retracement. Source: TradingView Short liquidations dominate, reflecting growing bullish pressure On-chain liquidation data reveals a significant tilt in favor of bulls. On the 18th of May, short liquidations totaled $387K while long liquidations came in at only $65K. This sharp disparity suggests a market-wide short squeeze, as bears were forced to exit underwater positions. The liquidation imbalance typically accelerates price movement and creates upward pressure. Source: CoinGlass MVRV Z-score suggests room for further growth The MVRV Z-score for Dogecoin sat at 0.94, at press time, well below the 2.5 threshold often associated with overvaluation. This metric compares market cap to realized cap, offering insight into average holder profitability. A low score suggests minimal unrealized profits, meaning that most holders have little incentive to sell aggressively. Consequently, the current reading indicates healthy conditions for sustained upward price action. Source: Santiment Why is DOGE raising volatility concerns? DOGE’s Stock-to-Flow Ratio has surged to an unprecedented 99.53, indicating that the growth of circulating supply has significantly slowed or stopped, increasing perceived scarcity. However, such a sharp rise could also signal unusual market activity or upcoming volatility. Historically, sudden…
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