In June, Dogecoin (DOGE) experienced a sharp decline of 14%, resulting in 132 million USD in unrealized losses for traders. Despite these losses, many short traders are still holding onto their positions as they anticipate further price drops.
Currently, whale accumulation of DOGE has decreased, leaving retail traders navigating increased market pressure. The short sellers dominate the trading volume, highlighting a bearish outlook as they expect the price to continue declining.
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