DOGE’s Turbulent July: $1.85M Liquidation Shakes Bullish Sentiment
Dogecoin (DOGE) faced a brutal market correction on July 2, 2025, with $1.85 million in Leveraged positions liquidated within just four hours. The meme coin's price dropped 4% from its $0.167 peak to $0.158, crushing overleveraged bulls who suffered 97% of the losses—a staggering 34-to-1 liquidation ratio against long traders. This dramatic skew highlights the extreme volatility and risks inherent in crypto's speculative trading environment. July's opening sessions have proven particularly harsh for DOGE, as the coin's fragility amid market turbulence raises questions about the sustainability of its recent gains. The liquidation crisis underscores the need for caution among traders, especially those employing high leverage in the unpredictable meme coin market.
Dogecoin Faces $1.85M Liquidation Crisis as Bulls Crushed by 3,444% Skew
Dogecoin's market turned violent as $1.85 million in leveraged positions evaporated within four hours. Long traders bore 97% of the damage—a liquidation ratio of 34-to-1 against bulls—after DOGE's 4% price collapse from its $0.167 peak. The meme coin now wobbles at $0.158, exposing the fragility of crypto's speculative excesses.
July's opening sessions have become a graveyard for overleveraged Doge bets. Yesterday's rally proved a bull trap, with Coinglass data revealing just $52,750 in short liquidations versus $1.8 million in long carnage. Such extreme asymmetry signals how crowded trades amplify crypto's whipsaw volatility.
Market structure appears broken as Dogecoin struggles to establish support. The absence of meaningful bids beneath current levels raises risks of cascading liquidations. 'This isn't profit-taking—it's margin calls feeding on themselves,' remarked a Binance futures trader watching order books thin out.
Dogecoin Tests Critical Support Amid Bearish Sentiment
Dogecoin hovers NEAR a pivotal $0.152 support level, a zone that previously marked accumulation phases in late March. The meme coin's failure to breach the 200-day EMA in early June reinforced bearish control, with technical indicators showing weak momentum and thin trading volume.
Market structure suggests a binary outcome: holding $0.152 could catalyze a relief rally toward $0.19 resistance, while breakdowns may test the $0.13 historical floor. Unlike past cycles, DOGE currently lacks speculative frenzy—its price action now resembles low-volatility assets rather than the hype-driven rallies of previous years.
Dogecoin Enters Distribution Phase After Crash Below $0.15, Next Steps Revealed
Dogecoin has transitioned into a distribution phase following a breakdown below the $0.15 support level, according to Trader Tardigrade's Power of Three (PO3) analysis. The meme coin's rebound to $0.16 suggests potential for a fresh upward breakout.
The PO3 pattern—comprising accumulation, manipulation, and distribution phases—now nears completion on the 1-hour timeframe. This technical structure historically precedes significant price movements, with Dogecoin's current positioning hinting at bullish momentum.
