Dogecoin's Price Dilemma: Will Volume Bring New Highs or Fresh Lows?

The Dogecoin price is currently trading at $0.0702, down 3.6% in the last 24 hours.

It's stuck within a tight range of $0.0693 to $0.0733, but some analysts believe it could retest its previous highs around $0.078-$0.083 if volume returns to what it was during past rallies.

However, without that volume, the price may drift back down towards the low six-cent range of $0.0682-$0.0663.

The liquidation heatmap shows that long positions have been wiped out in large numbers, with over $5.22 million in losses compared to just $522,770 on the short side.