Dogecoin Hits Rare 12,129% Liquidation Imbalance to Stun DOGE Bears - U.Today

Dogecoin (DOGE), the leading market meme coin, experienced abnormal liquidations today, Nov. 6, 2025. Specifically, in the past hour, DOGE registered a 12,129% liquidation imbalance between short- and long-position holders.

Dogecoin long positions crushed

According to CoinGlass data, DOGE saw total liquidations reaching $244,110 over the past hour. Of this figure, $242,130 came from long traders, while short position holders contributed only $1,980. This means 12,129% more longs were liquidated than shorts.

The one-hour liquidations came as the DOGE price volatility became pronounced in that short window

All DOGE holders that leveraged long were crushed, while shorts barely felt the heat.

Too many people were over-leveraged, betting on a possible rally for DOGE. However, shorts are winning as the drop validated the bears.

Big liquidation clusters often sit just below the current price. Hence, if DOGE keeps falling, another wave of longs gets flushed, and the price drops further.

However, it could mean a potential price reversal. Sometimes, when almost all longs are wiped out, there is no one left to sell, leading to price bounces.

On the crypto futures trading market, traders borrow funds to bet BIG on price moves — those who choose long bets that the price will go up, and lose if it drops. In contrast, short holders bet that the price will drop; thus, they lose if it pumps.

If the price moves against them too much, the exchange force closes their positions, resulting in liquidations.

DOGE price still underwater

As of press time, the downside pressure is strong for Dogecoin. The price of the meme coin currently hovers around $0.1629, down 0.55% over the past 24 hours.

The DOGE trading volume also decreased by 57.44% to $1.9 billion, suggesting reduced market activity.

According to technical analysis, DOGE is maintaining the descending resistance line within a falling triangle pattern

Markets anticipate a temporary rebound toward $0.17 before another drop between $0.14 and $0.13

Therefore, momentum remains bearish unless and until the structure breaks above $0.18. The formation of a death cross on the DOGE price charts further emphasizes the bearish outlook.

A death cross formation happens when the 50-day moving average crosses below the 200-day moving average. Historically, this pattern precedes prolonged downward momentum for crypto assets in general.

Meanwhile, on-chain analyst Ali Martinez revealed that the DOGE chart sits inside a prolonged channel, setting it up for a 40% correction.