DOGE Short Liquidation at $0.235 Signals Short-Covering, Watch for Follow-Through
I note that a $252,000 short position in Dogecoin was liquidated at $0.235.
This short squeeze suggests short-covering and a possible short-term bullish impulse, but the notional is modest relative to the market, so it’s not definitive evidence of a sustained trend change.
I will watch volume and price action around $0.235; meaningful follow-through above recent resistance would be a bullish confirmation, while failure to hold that level could lead to renewed volatility.
Analysis
Recommendation
Watch price and volume for follow-through. If DOGE clears key resistance with volume, consider a measured entry; if it fails to hold $0.235, avoid buying and reassess.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.