Dogecoin (DOGE) prints largest $59 million liquidation in three years
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The confidence in the potential of Dogecoin to reclaim lost valuations accounts for why many futures traders went long on the coin. There has been an intense For overexposed traders, the bearish slump might have caused a major loss at the moment, but when the bigger picture is factored in, this drawdown is a positive switch for Dogecoin.
With the market in overselling mode, the Relative Strength Index of DOGE has slumped to 28. After a period of drawdown, bears on the market might run out of additional DOGE to offload. At this point, Dogecoin might begin to see a renewed"its lost spot market valuation and ultimately maintain its stance as the most capitalized meme coin on the top 10 list of all cryptocurrencies.
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