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BTC 
DOGE Dogecoin long traders suffered huge liquidations and prices fell below key support levels
As prices continued to fall, the Dogecoin leveraged market experienced an extreme imbalance of as much as 2,691.19%, and long traders absorbed approximately US$8.59 million in liquidation losses.
DOGE fell below its 200-day moving average and tested support at $0.083, making $0.080 the next potential defense area for buyers. Although inflation concerns and interest rate hikes have put pressure on the cryptocurrency market, Dogecoin has expanded its access through the integration of the Solana ecosystem with the help of Raydium and Jupiter trading platforms.
Leverage positions were seriously unbalanced, and bulls suffered heavy losses.
Under the continued selling pressure, Dogecoin, as a representative of meme coins, failed to hold important technical barriers. According to CoinGlass data, DOGE recorded a liquidation imbalance of 2,691.19%, and during this period, almost all liquidation came from long positions.
A total of approximately US$8.91 million in leveraged positions in Dogecoin were cleared, of which the long clearing amount was as high as US$8.59 million, while the short position was only US$319.19 million. This huge imbalance reflects traders making heavy bets on gains before prices fell, ultimately forcing exchanges to forcibly liquidate positions to control risk.
Currently, the trading price of Dogecoin is about US$0.083, a drop of 7.30% in 24 hours. Market weakness has spread to the entire crypto field. Previously, DOGE climbed to around $0.095 over the weekend, and the market was optimistic that buyers could push prices further upward. However, subsequent selling wiped out those gains, causing the asset to fall for four consecutive trading days.
In addition, DOGE also fell below its daily 200-day moving average of around $0.088, making key technical structures that traders are watching closely appear increasingly fragile.
Macro Pressure and Key Support Test
Dogecoin touched as low as $0.083 in intraday trading, which analysts pointed out as a key support level to maintain the bullish outlook of the token. If this price level is lost, the next demand area will be exposed around $0.080, where buyers may try to defend again. [TAG
Meanwhile, macroeconomic uncertainty continues to weigh on cryptocurrency markets as investors assess inflation data and possible policy adjustments by the Federal Reserve. The cryptocurrency market as a whole recorded about $569 million in liquidation, with significant losses on most mainstream digital assets.
In addition, the producer price index (PPI) rose 0.4% month-on-month in August, in line with market expectations, but this still kept inflation concerns under market consideration. Traders subsequently raised expectations for the Federal Reserve to raise interest rates by 25 basis points at its upcoming policy meeting. CME Group's FedWatch tool shows that the probability of a rate hike is close to 66%, but the pricing process remains volatile as investors evaluate various economic indicators.
Ecological integration is difficult to offset market pressure
In other respects, Dogecoin has expanded through the Sunrise Protocol and was officially introduced into the Solana ecosystem this week. The integration allows DOGE to trade through Solana-based platforms, including Raydium and Jupiter, enhancing its usability in decentralized markets.
Still, this development cannot offset the pressure of leverage liquidation, technical weakness, and uncertainty about monetary policy. Currently, the trend of Dogecoin depends on whether buyers can hold on to US$0.083 and pull the price back above the much-watched 200-day moving average.
