#Gate广场五月交易分享 Dogecoin (DOGE): The biggest drop, with the long-short ratio at record highs

DOGE is now around $0.10664, down 4.16%, making it the sharpest pullback today. It was smashed all the way from above $0.116 to around $0.106, and nearly all of the week’s gains have been wiped out.
As for the long-short ratio: the Bn account is at 2.3146, OK at 2.76, and large accounts hold 2.1663. The long-short ratio is above 2.3 across the board. Retail traders’ bullish sentiment is off the charts—which is also why it dropped so much today, as the market maker is using the opportunity to aggressively churn the market.
Liquidation data: In the 1-hour window, $950,000 worth of longs were liquidated, with shorts at 0; in the 12-hour window, $6 million worth of longs were liquidated, with only $260,000 shorts liquidated. The longs were cleared out extremely brutally.
Support to watch is at 0.104-0.105, while resistance above is at 0.11-0.112.
Entry timing: If you want to go long, wait for a pullback to 0.104-0.105 and confirm stabilization before entering. Set a stop loss at 0.102, with targets at 0.11-0.112. The long-short ratio is too high, and the market maker may still be shaking people out—so don’t rush to buy the dip.