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#Gate广场五月交易分享 Dogecoin DOGE: The biggest drop, with the long-short ratio off the charts
DOGE is now about $0.10664, down 4.16%, making it the most aggressive correction today. It plummeted from above $0.116 down to around $0.106, nearly all of this week's gains wiped out.
In terms of the long-short ratio, the BN account is at 2.3146, OKEX at 2.76, and large accounts hold 2.1663. The long-short ratios are all above 2.3, retail investors are extremely bullish, which is also the reason for today's sharp decline—whales are taking the opportunity to shake out traders.
Liquidation data: 95,000 long positions were liquidated in 1 hour, with no short liquidations; in 12 hours, 6 million longs were liquidated, only 260k shorts. The longs were cleaned out very brutally.
Support levels are at 0.104-0.105, resistance at 0.11-0.112.
Entry timing: Those wanting to go long should wait for a rebound and stabilization at 0.104-0.105 before entering, with a stop loss at 0.102, targeting 0.11-0.112. The long-short ratio is too high, and the whales may still be shaking out, so don’t rush to buy the dip.
DOGE is now about $0.10664, down 4.16%, making it the most aggressive correction today. It dropped from above $0.116 all the way down to around $0.106, nearly giving back the entire weekly gain.
In terms of the long-short ratio, BN account is 2.3146, OKEX is 2.76, and large accounts hold 2.1663. The long-short ratios are all above 2.3, indicating retail traders are extremely bullish, which is also the reason for today's sharp decline—whales are taking the opportunity to aggressively shake out positions.
Liquidation data: 1-hour long positions exploded by 950k, with no short positions; 12-hour long positions exploded by 6 million, with only 260k short positions. The longs have been wiped out very brutally.
Support below is around 0.104-0.105, resistance above is at 0.11-0.112.
Entry timing: Those wanting to go long should wait for a rebound and stabilization at 0.104-0.105 before entering, with a stop loss at 0.102, targeting 0.11-0.112. The long-short ratio is too high, and whales may still be shaking out, so don’t rush to buy the dip.