Dogecoin Price Holds Steady Amid Wild Ride
Dogecoin (DOGE) price has been holding steady near $0.097 after a wild ride in recent days. On Tuesday, September 22, DOGE surged to $0.1035, only to be followed by a sharp drop to $0.093 on Wednesday, September 23. This move wiped out a significant chunk of open interest on Binance's DOGE/USDT perpetual.
The market data shows that neither longs nor shorts got what they wanted from the price action. Longs who chased the Tuesday surge were stopped out, while shorts who piled in near $0.093 got squeezed the other way once buyers appeared. By Sunday, September 27, DOGE had recovered to $0.0974.
A look at CoinGlass's one-week liquidation heatmap for Binance DOGE/USDT reveals a dense short-liquidation shelf stacked between $0.0985 and $0.100, just above the current price. Below spot, there is a lighter long-liquidation pocket running from $0.090 to $0.091.
Funding on the open-interest-weighted rate remained near 0.009% throughout the week, indicating that neither side has forced the other's hand yet. Open interest slid hard during the Wednesday flush but stabilized without a full trend reversal.