Elon Musk

Long

Green

<ul>
 <li>DOGE is still in a downtrending channel, and repeat lower highs and lows are signaling continued selling pressure.</li>
 <li>Long liquidations accounted for $3.4 million in just 24 hours, accounting for 89% of all liquidations on exchanges.&nbsp;</li>
 <li>Support near 0.064-0.066 is of great importance and the first major resistance at $0.073 is a stretch.</li>
</ul>
<p>The sell-off pressure on DOGE persists, along with repeated liquidations and faltering participation, making it difficult to find the market bottom.</p>
<h3 class="wp-block-heading" id="strong-descending-channel-maintains-bearish-pressure-strong"><strong>Descending Channel Maintains Bearish Pressure</strong></h3>
<p><a href="https://x.com/cryptojack/status/2120698164709622203?a=iiaHmrqzfnMhWXs55GQ&amp;s=20" rel="noopener noreferrer nofollow">CryptoJack recently</a> asked if Elon Musk has started to focus more on PEPE than Dogecoin. His call came as DOGE was continuing its long slide with no end in sight. Below, you can see an example of a channel that is descending and has a series of lower lows.</p>
<figure class="wp-block-image size-full is-resized"><img src="https://cryptonewsland.com/wp-content/uploads/2026/11/image-43.png" alt="" style="aspect-ratio:1.4506024096385541;width: 100%;height:auto">
 <figcaption>
  Source: <a href="https://x.com/cryptojack/status/2120698164709622203?a=iiaHmrqzfnMhWXs55GQ&amp;s=20" rel="noopener noreferrer nofollow">X</a>
 </figcaption>
</figure>
<p>There have been many attempts to recover from the upper channel boundary, but they have been all rejected. Meanwhile the bottom line has held the market off the downside a few times. This arrangement is an illustration of the way in which sellers have enjoyed a certain control during the period of trading that is shown.</p>
<p>DOGE started to dip further after it got close to $0.107. The cryptocurrency had a bad performance as selling was strong and it couldn't sustain its valuation. Rebounds made lower peaks, which confirmed the already identified downward trend.</p>
<p>Later, the buyers found it difficult to sustain above $0.080 price levels. Multiple stumbles at $0.082 sparked new sellers. As a result, the crypto started to come closer to the lower limit of the channel.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-liquidation-data-exposes-leveraged-buying-pressure-strong"><strong>Liquidation Data Exposes Leveraged Buying Pressure</strong></h3>
<p>The liquidation chart is another sign of weakness in the derivatives market. Green bars indicate liquidated long positions, orange bars indicate liquidated short positions. Some green spikes broke the $9 million to $11 million mark.</p>
<figure class="wp-block-image size-large is-resized"><img src="https://cryptonewsland.com/wp-content/uploads/2026/11/image-42-1024x341.png" alt="" style="aspect-ratio:3.01;width: 100%;height:auto">
 <figcaption>
  Source: <a href="https://www.coinglass.com/currencies/DOGE/futures" rel="noopener noreferrer nofollow">Coinglass</a>
 </figcaption>
</figure>
<p>These events in the form of liquidation events occurred at various points within the long downturn. When there is a leverage trade, and the trader fails to keep the required margin, it is called a forced closure. When market liquidity is not high, these events can further accelerate downward flows.</p>
<div id="media_image-2" class="widget widget_media_image flexCenter flex-col bg-white dark:bg-slate-800/50 rounded-md min-h-[100px] cnl-banner p-2 mb-6"><a href="https://t.me/EliteFXLabs" rel="noopener noreferrer nofollow"><img width="1280" height="698" src="https://cryptonewsland.com/wp-content/uploads/2026/04/EliteFXLabsBanner-0.webp" alt="EliteFXLabs Banner" style="max-width: 100%; height: auto;"></a>
</div>
<p>The total liquidations for the 24 hours was around $3.8 million. Long losses came in at $3.4 million, or about 89% of the total losses reported. Short liquidations were responsible for some $418,500 during the same reporting period.</p>
<p>Binance trailed OKX for liquidations with about $1.9 million. Binance invested an additional $1.3 million over the same period. The biggest single trade was a $1.5m long trade on OKX.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-doge-approaches-important-support-levels-strong"><strong>DOGE Approaches Important Support Levels</strong></h3>
<p>Market data at the time of writing shows DOGE trading at ~<a href="https://coinmarketcap.com/currencies/dogecoin/" rel="noopener noreferrer nofollow">$0.06681</a>, which is about 1.74% lower than yesterday. It trades at a market cap of about $10.47 billion, and has seen trading volume fall by 12.78%. This suggests that sales activity has declined along with the price drop.</p>
<p>It seems the price is recovering as of the last intraday chart, heading to $0.0692. Sellers started the trend going the other way around midnight Nov. 12, however. Revenue from rebounding has been weak and kept prices below the $0.0670 mark.</p>
<p>The overall descending channel offers support at 0.064-0.066 with immediate support. Any further downside risks are likely to be uncovered with a continued deterioration below this. Making further use of liquidation would put further strain on a fragile market structure.</p>
<p>However, it is the buyers who have to overcome the $0.073 resistance level. Recovery evidence would improve if the price increased to $0.076 and $0.080. Until then, the market's key elements are lower highs, repeated liquidations and waning participation.</p>

DOGE Selling Pressure Deepens Across Market

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