DOGE INVESTORS WERE LIQUIDATED, IS IT A PAINFUL LESSON?

IN THE PAST 24 HOURS, THE LIQUIDATION OF LONGING POSITIONS IN THE DOGE (DOGE) FUTURES MARKET HAS REACHED THE HIGHEST LEVEL IN 30 DAYS. This happened after Bitcoin prices falling and causing a broader market downturn. During this period, 270,993 investors liquidated futures positions worth more than $860 million across the Crypto Assets market.

On-chain data shows that the liquidation of longest positions on the DOGEE side totaled $16 million. The last time such a large number of longest liquidations were recorded in the Crypto Assets futures market was on March 6.

A Liquidation occurs when an investor's position in the futures market is liquidation due to insufficient funds to maintain the position. When the price of an asset unexpectedly falls fall, a liquidation of long positions occurs, forcing un Close Position investors who are betting on price pump to exit their positions.

Comparing these figures, Coinglass reported a total of $3.08 million in DOGE sold short on the day. According to CoinMarketCap data, the DOGE price has fall 13% in the last 24 hours, extending its weekly fall of 6%.

WHAT TO EXPECT FROM DOGE?

Analysis of the daily price action of altcoins suggests that it may pump over the weekend. THE BASIC MOMENTUM INDICATOR SHOWS A STEADY DECLINE IN DOGE DEMAND. For example, the Relative Strength Index (RSI) and Money Flow Index (MFI) values are 46.85 and 46.53, respectively. These numbers indicate a decrease in demand for altcoins by market participants and a sudden increase in Crypto Assets sales.

In addition, an examination of the Directional Movement Index (DMI) showed that the positive index (green) falls below the negative index (red) on April 12. This change in the average line indicates a shift from bullish momentum to a falling trend, indicating a possible comeback of shorts and increased profit-taking activity.

Finally, this is confirmed by the MACD line of the DOGE price, which was above the signal line at the time of the report. IT ALSO INDICATES THAT DOGE'S SHORT-TERM MA IS HIGHER THAN ITS LONG-TERM MA. IN CONCLUSION, DOGE INVESTORS MAY FACE A CHALLENGING TIME AHEAD.

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