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Dogecoin Bulls Hit Pause as Profit-Takers Rush the Gate

Post-Trump victory, the Dogecoin market’s pulling in serious chop. The top dog meme token—known for its wild spikes—soared to $0.218, tagging a high not seen in five months. But this ride was short-lived, with DOGE already spilling about 14% back to $0.188 by November 7. This tumble followed the memecoin’s daily RSI reading breaching the “overbought” threshold, ticking up to 74.91, a telltale signal that steam might be fading.

For those keeping tabs, this overbought reading usually tips traders to a burnout phase. Back in October, DOGE RSI went past 70, and sure enough, the token pulled back soon after. With its 22% run-up in recent weeks, DOGE seems to be losing gas, and paper hands are surfacing, looking to scrape profits while they still can.

DOGE Futures Traders Get Pummeled by Liquidations

Over in futures, it’s chaos. Since Trump snagged that dub, DOGE’s seen close to $63.83 million flushed in liquidations, nearly split between long and short positions. Specifically, about $32.31 million in shorts got squeezed, while longs saw a $31.61 million gut punch. It’s pandemonium. Both bulls and bears are getting their stops hit, caught in a volatility vortex that’s flipping the market on its head.

Traders with diamond hands may hold, but a lot of short-termers are racing to lock in gains. With so much whiplash, it’s clear that neither side can pin down momentum, making this a pure chop zone that’s bound to leave plenty underwater.

DOGE Stalls Out at Mega-Resistance Level from 2021

It’s no fluke—Dogecoin’s price hit a known ceiling, marked by that dreaded red resistance zone from November 2021. Today’s sell-off marks the 15th faceplant for DOGE at this level. Every past attempt to break through here has led to gut-wrenching corrections, usually in the 60-80% range. Traders with bearish goggles see it as a prime shot, especially with DOGE struggling again to push higher.

Without a major breakout, the sentiment’s skidding toward bearish territory, with sellers eyeing the 50-week EMA at about $0.120 as a juicy target.

Trump’s Crypto-Lovin’ Rhetoric Could Signal DOGE Frenzy for 2025

If DOGE busts out above this sticky resistance, the play could shift. Trump’s crypto optimism and murmurs of Elon Musk’s mythical Department of Government Efficiency (D.O.G.E.) might inject some major juice. If all the stars line up, DOGE could fly toward its old high of $0.221 in 2025. But for now, it’s a seesaw market, and folks are watching their wallets.