Dogecoin Traders Open More Short Positions

DOGE Faces Increased Short Interest as Price Declines to Three-Month Low
Dogecoin Traders Open More Short Positions

Dogecoin (DOGE) has seen a significant increase in short positions as its price dropped over 10% in the past week, hitting a three-month low of $0.12 on June 17. This decline triggered $44.21 million in long liquidations, marking the highest figure this year. Consequently, DOGE's funding rate has turned predominantly negative, indicating a bearish market sentiment. The current trends suggest that DOGE's price could either fall further to $0.11 or potentially rally to $0.13 if buying pressure increases.

Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.

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