Dogecoin Rally To $0.35 Could Trigger Massive Short Squeeze
Analyst Ali Martinez said that Dogecoin (Doge) may have a huge price of price moves. he Point out On January 27th, through X, “If Dogecoin Doge’s rebounds are $ 0.35, a short position of $ 7664.5 million will be liquidated.”
Large dog coin short extrusion access?
Take a look at the latest liquidation hot map of the suite cover show that there are a large number of short positions between $ 0.339755 and 0.34368. CoingLASS data showed $ 464.8 billion, $ 0.3397555555.5347.9 billion, US $ 0.34,054, US $ 5.34054, US $ 5039.7 million, US $ 0.341325, US $ 433,41 million, US $ 0.34211, US $ 325.9 billion, USD 325.9 billion , $ 325.9 billion, $ 0.34368, It was US $ 0.34368, bringing a potential of $ 226 million to $ 226 million.
This number emphasizes possible size Squeeze It should be climbed to that tight range. Coinglass describes its hot map as a way to “predict where the clearing level may start”, and also emphasizes that “liquidation plays a vital role in the cryptocurrency market”, because when the transaction of the compulsory leverage location is transaction When they are forced, they will affect the fast price fluctuations.
Related reading
Coinglass emphasizes the value of “high liquidity fields” because they can be used as tapes, and sometimes a big player known as a whale seize the opportunity to perform a large number of transactions. Traders often jump on the liquidation cluster at a favorable price, which paved the way for the sharp reversal. For Dogecoin, the magnet area is now below $ 0.35.
Martinez (Martinez Composition or destroy the junctureEssence When Dogecoin soared to $ 0.4834 on December 8, the price action has been defined by the decline trend line. Although DOGE broke on this line on January 15, 2025, this shows the potential bullish change, itMore extensive market fluctuations On January 26, it quickly dragged it back.
The result is a scene, that is, about $ 0.335 to US $ 0.34 now as a strong obstacle. Successful violations of this area may be key, especially considering the shorts concentration of Coinglass found above it. If you want to do your best to pierce this level, traders who serve as short positions may be forced to cover quickly, and the wave of purchasing pressure can quickly accelerate the upward action.
Related reading
At the same time, DOGE still exceeds the crucial 0.382 Fibonacci retracement, close to $ 0.313, which prevents the shortcomings of the latest market for sale. The next technical support is deepened on the chart, close to $ 0.212 (0.236 Fibonacci retrospect), where the trader will pay close attention to any signs of any weakness.
In good aspects, the 0.5 retreat of $ 0.5 is still a key pivot. The continuous recovery of this threshold may cause greater confidence in bullishness. If Dogecoin can restore sufficient power, the potential resistance will appear in the area of 0.476 to 0.592 again.
Use the characteristic images created by Dall.e, the chart of tradingView.com
