Critical Area Identified on Dogecoin Liquidation Map as Vital to Watch

Dogecoin's liquidation cluster is situated near $0.208, marking a crucial price target for potential market shifts. The weekly broadening wedge implies that the next swing could touch $1.40 if support endures. An inverse head and shoulders pattern on the hourly chart indicates a short-term rise toward a $0.214 target. At present, Dogecoin is trading near $0.20, showing a decline of over 3% in the past 24 hours.

The token's value has dropped by 10% over the week, with a daily trading volume of $1.4 billion. The largest short liquidation cluster, as reported by TheKingfisher, is close to $0.208. A price movement in this zone could instigate a short squeeze. Traders are closely observing the $0.208 level as a near-future price target where short liquidations may propel the next move.