Dogecoin Short Squeeze: $79K Liquidated at $0.232 Suggests Short-Term Bullish Pressure
I noticed a liquidation of $79.1K worth of short positions in Dogecoin at $0.232. That squeeze likely forced short-covering and produced immediate upward pressure on price.
I view this as a near-term bullish signal but not proof of a sustained trend — the liquidation size is modest relative to DOGE's market depth. I will watch for follow-through volume and whether price holds above 0.232.
If momentum continues with higher volume I may take a partial position; if the move fails, I will remain sidelined and look for a cleaner entry on weakness or confirmed support.
Analysis
Recommendation
Monitor price action and volume around 0.232. Wait for follow-through before committing — consider a partial buy only if the breakout shows conviction, or buy on weakness at a confirmed support level.
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.