Dogecoin, dashed upon the rocks of fate, meanders downward since August 17, a slow ballet of 9% loss-three days of silent humiliation for its devotees.
Yet here, in the shadowy theater of market despair, traders-those eternal optimists-opened their hearts and wallets to the siren call of bullish futures. But alas, as with all dreams born of longing, their positions now rot amidst losses. New demand? Muted, like my uncle Ivan after three pitchers of kvass. The brave souls staking their dreams on DOGE’s rally find themselves at the mercy of further decline, waiting for fortune that wears no watch.
DOGE’s Descent: A Comedy of Liquidation
An avalanche of price decline, orchestrated by the fickle maestro called “broader market dip,” has summoned forth a parade of long liquidations-a procession the likes of which do not so much inspire hope as they invite existential questions about the nature of memes and money. According to Coinglass-or the market’s soothsayer-$10 million has evaporated in but twenty-four hours. To hold DOGE now is to embrace loss with arms wide open.
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But the farce deepened-yesterday, DOGE Futures Long Liquidations Dominance clawed its way to a brutal 98%, a figure so lopsided it may well be a cosmic jest. Nearly every position was like a clown slipping on a banana peel-long bets pancaked into eternity. 😂
Liquidations themselves are curious beasts: when a trader, drunk with hope, bets against the current and the asset spites him, the exchange wrenches his position from his grasp-no funds, no future, only regret. Sad, comical, inevitable.
Long liquidations carry a special flavor: a trader bets on glory, the price instead collapses, the market cackles, and our hero is chased out. Excessive loss stalks the DOGE faithful, threatening to poison mood and spark yet more selling. Thus, the coin, once a playful pup, now whimpers towards new lows, doomed to melancholia for… the near term? Forever? Ask the wind.
DOGE Buyers: Out of Breath and Out of Luck 😤
Now, in this bleak hour, the ghostly Relative Strength Index (RSI) slumps below 50-a statistic so unimpressive it could be the basis for a Russian short story about failed ambition. At 46.36, buyers lounge half-heartedly on the sidelines, their willpower leaking like a samovar with a cracked spout.
The RSI, for those polishing their monocles, measures whether DOGE is too loved (above 70-dangerous exuberance!) or too ignored (below 30-tragic overselling!). At this tepid 46.36, DOGE’s bullish momentum sputters, and market participants ponder the abyss, or possibly just what’s for dinner.
As buyers falter, the meme coin, forsaken by all but the stoutest hearts, approaches $0.1758, a price at which one must ask: “Is this a joke, or merely fate?” 🤡
Yet, by the grace of God, or perhaps the sheer unpredictability of crypto, should buyers find their forgotten vigor, DOGE may yet stagger past $0.2347. Stranger things have happened in Petersburg. 🚀
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2025-08-20 22:37