Dogecoin Down 6%, But Traders Go Long: What Is Going On?

Dogecoin (CRYPTO: DOGE) is down 6% on the day, but traders focus on the medium-term trend, speculating that a rally is still in the making.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Dogecoin (CRYPTO: DOGE)	$0.1813	$26.9 billion	-6.2%	+8.2%
Shiba Inu (CRYPTO: SHIB)	$0.00001334	$7.9 billion	-6.1%	+5.8%
Pepe (CRYPTO: PEPE)	$0.0₅7830	$3.3 billion	-6.1%	+7.7%

Trader Notes: Crypto trader Trader Tardigrade highlighted that Dogecoin has shifted to an uptrend on the daily chart, forming higher highs and higher lows.

He marked certain levels for the meme coin’s upward or downward trend.

Holding above the $0.178 critical support level maintains the uptrend, while $0.164 acts as major support and staying above this will reflect a sideways trend.

A drop below $0.164 could restart the downtrend, requiring Dogecoin to build momentum for breaking the structure again.

Statistics: Crypto chart analyst Ali Martinez highlights that 76.65% of traders on Binance Futures are long on DOGE, reinforcing a bullish outlook.

76.65% of traders on Binance Futures are long on #Dogecoin $DOGE! pic.twitter.com/Qpr3pGCwh7

— Ali (@ali_charts) March 28, 2025

Coinglass data shows total DOGE liquidations in the past 24 hours at $12.4 million, with $10.9 million in long liquidations.

Community News: Dogecoin Foundation Director Timothy Stebbing explained that a growing DOGE reserve could support broader crypto payments adoption and specifically DOGE.

Potential use cases include mobile payments, point-of-sale (POS) terminals, online shopping integrations and government APIs for payments.

Read Next:

Dogecoin Rallies 15% In 7 Days: What Is Going On?

Image: Shutterstock

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