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Even though a handful of candles were registered outside the channel, DOGE couldn’t sustain there for long and re-entered the bearish set-up. After spending around ten days in it, DOGE What caused Dogecoin to surge? Typically, bullish traders help asset prices rise. However, the opposite is true for Dogecoin this time. A recent analysis by Santiment noted that the DOGE Dogecoin has jumped 21% over the past week, outperforming major memecoins like Shiba Inu, Pepe and Bonk. At the time of publication, DOGE traded at $0.38.

Did Dogecoin shorts fuel the latest rally? The unlikely answer might be yes. Dogecoin (DOGE) has jumped 21% over the past week, significantly outperforming other memecoins such as Shiba Inu, Pepe, and Bonk. At the time of publication, DOGE traded at $0.38, leaving investors wondering: What caused Dogecoin to surge?

Typically, bullish traders help asset prices rise. However, the opposite is true for Dogecoin this time. According to a recent analysis by Santiment, the DOGE rally may be attributed, in part, to short sellers getting squeezed. It appears that an aggressive short position build-up set the stage for the price pump.

While Dogecoin shorts helped trigger the initial surge, the technical picture remains nuanced. Even though a handful of candles were registered outside the channel, DOGE couldn’t sustain there for long and re-entered the bearish set-up. After spending around ten days in it, DOGE... Ultimately, the long-term direction of DOGE will depend on broader market trends and adoption.

So, are dogecoin shorts really responsible for the 21% rally? It's complicated, but the data suggests they played a significant role. This unusual dynamic highlights the volatile nature of meme coins and the potential for unexpected price movements.

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