Dogecoin Price Soars to New Heights Amid Heavy Short Liquidations

The Dogecoin price prediction remains bullish above $0.09353, with many analysts and traders expecting a push toward the 0.786 Fib at $0.1085.

After a sharp spike to an intraday high of $0.10589 on September 21, the token pulled back below the 0.618 Fibonacci retracement level at $0.09956.

This move followed a significant increase in derivatives trading volume and heavy short liquidations, with shorts losing $12.66 million as the rally caught bearish positions off guard.

Trader Tardigrade, who had been betting on gains, took profit as Dogecoin hit resistance near $0.10, citing that the token needs to build strength near this level before attempting another leg higher.