The post Dogecoin Price Eyes $0.22 As $55M DOGE Shorts Risk Liquidation appeared on BitcoinEthereumNews.com.

Dogecoin (DOGE) showed its potential to break above a bullish consolidation pattern. It suggested the potential uptrend in Dogecoin price but was yet to be confirmed as of press time. Dogecoin Price Analysis A bull flag pattern developed for the DOGE/USD pair on the 1-hour time frame chart. The intensive upward movement, which extended from $0.1520 to $0.1850, established the “flagpole” during its development stage following a major bullish pressure. DOGE price displayed a consolidation phase within two downward-sloping trend lines. Thus, it formed the flag pattern from $0.1680 to $0.1840. This price movement typically suggested a trading pause before further movement as the prevailing uptrend had a chance to continue. Dogecoin price was testing its flag’s upper boundary between $0.1810 and $0.1840 at the point of observation. Breakout success above the resistance could validate the bull flag pattern to trigger a potential price increase. DOGE 1-hour chart showing price action | Source: X This could direct DOGE toward reaching $0.22 by measuring the distance from the breakout point through the flagpole length. A successful breach of resistance would create highly positive momentum, which could enhance investor participation in the market. A downward movement below $0.1680 would result in the invalidation of a bullish outlook for DOGE. If the price declines past $0.1600 and $0.1520, where the previous strong price rally started, then traders should watch for continued weakness in Dogecoin’s value. The market’s future movement depended on close trader monitoring of prices between $0.1810 and $0.1840. That’s because bullish verification, along with a $0.1680 dip, indicated bearish risks and possible trend change. Dogecoin Short Liquidations Traders monitoring DOGE price would find themselves on edge due to a potential price shift. A rise in price above $0.19 would cause millions of dollars in short position liquidation threats. It could exceed…

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Filed under: News - @ April 28, 2025 5:22 am