DOGE Faces Turbulence: 200% Liquidation Imbalance Sparks Market Uncertainty
Dogecoin (DOGE) experienced a sharp downturn on May 28, 2025, plunging into a liquidation frenzy as volatility spiked. The meme coin tumbled from $0.232 to $0.2266, erasing over $123,000 in long positions within an hour and creating a staggering 200% liquidation imbalance, according to CoinGlass data. Despite a minor recovery to $0.2268 (a 1.06% daily drop), trading volume dipped 0.9% to $1.32 billion, reflecting waning momentum. As of the latest data, DOGE hovers at $0.2222, amplifying bearish pressure and leaving optimistic traders reevaluating their positions. This abrupt price action underscores the inherent risks and volatility in meme coin trading, even as the broader crypto market shows resilience.
Dogecoin Faces 200% Liquidation Imbalance Amid Sudden Price Dip
Dogecoin (DOGE) plunged into a liquidation frenzy as volatility spiked, erasing long positions and creating a 200% imbalance. Over $123,000 in bullish bets evaporated within an hour, according to CoinGlass data. The meme coin tumbled from $0.232 to $0.2266, catching optimistic traders flat-footed and amplifying bearish pressure.
Trading volume dipped 0.9% to $1.32 billion despite a minor recovery to $0.2268—a 1.06% daily gain. Analysts interpret the $0.2200–$0.2300 range as consolidation territory. Holding above $0.2255 could signal breakout potential, though resistance looms overhead.
Dogecoin Absent in Elon Musk’s X Payments Beta Launch Despite Past Hints
Elon Musk has initiated limited beta testing for X Money, the payments LAYER within his ’everything app’ vision for X (formerly Twitter). The move confirms long-standing speculation about integrating financial services into the platform, aligning with Tencent’s WeChat model.
Notably absent is Dogecoin, despite Musk’s years of public endorsement for the meme cryptocurrency. His May 25 statement emphasized caution with user funds, suggesting a conservative rollout strategy for the native wallet and banking features.
The development marks a significant step in Musk’s post-acquisition transformation of Twitter, though the exclusion of DOGE raises questions about its role in X’s financial ecosystem. Market observers will watch for subsequent phases that might incorporate cryptocurrency functionality beyond traditional payment rails.
Dogecoin Price Faces Bearish Outlook to Close May Despite 30% Monthly Gain
Dogecoin’s rally appears to be losing steam as machine learning models predict a downward trajectory for the meme coin. After climbing 30% in May and breaching the $0.20 psychological barrier, algorithmic forecasts now suggest consecutive daily declines through month-end.
Coincodex’s predictive system anticipates Doge dropping to $0.220052 by May 28, with subsequent slides to $0.217269 (May 29), $0.214764 (May 30), and $0.213578 (May 31). This bearish technical outlook emerges despite Dogecoin’s strong performance earlier in the month, highlighting the volatility characteristic of meme-based digital assets.
Dogecoin (DOGE) at Risk — Can Support Hold This Time?
Dogecoin faces renewed downward pressure as it struggles to maintain key support levels against the US Dollar. The meme cryptocurrency has retreated from its $0.2540 peak, entering a consolidation phase that threatens further declines below $0.2200.
Technical indicators show DOGE trading beneath both the $0.240 psychological barrier and the 100-hour moving average. Market observers note a developing bullish trendline at $0.2230 on Kraken’s DOGE/USD charts, suggesting potential stabilization if the $0.230 resistance zone is breached.
The current correction follows DOGE’s failure to surpass $0.2550, diverging from Bitcoin and Ethereum’s performance. The asset tested lows near $0.2157 before entering its current consolidation pattern, leaving traders watching for either breakdown or reversal signals.
