After a long bear market suppression, Dogecoin (DOGE) has recently started to show some interesting performance.

An intriguing event occurred on Tuesday afternoon—a wave of "longs liquidated" in the market. Data shows that a total of $4.96 million in positions were forcibly closed in an instant, almost all of which were long traders, while short traders largely escaped unscathed.

What happened? Simply put: many people saw Dogecoin drop from $0.1495 and, upon seeing the price rebound above $0.15, impulsively added leverage to bet on a rise. As the market didn't cooperate, they got liquidated directly. Honestly, although such liquidations are fierce, they actually serve as a market self-correction—wiping out overly speculative leverage and clearing space for spot investors and genuine long-term players.

What’s truly noteworthy is that despite such volatility, Dogecoin managed to hold the $0.15 support line, and the bears failed to push the price below $0.145. This reminds us of the days before the 2021 bull run—when leverage surged, the market corrected, and then a crazy rally followed.

On the technical side, some positive signals are also emerging. The RSI has risen to 65, approaching the overbought zone, the highest level since September last year, indicating short-term market sentiment is warming up. The MACD has also shifted from weakness to strength, suggesting short-term upward momentum is building.

The key to the next move lies in two price levels. Around $0.185 is a short-term support; if broken, traders should be more cautious. On the upside, $0.225 is an important resistance level—once broken, a new upward trend could open.

From the perspective of this liquidation wave, although the process was intense, the market has become healthier as a result, and Dogecoin’s short-term rebound now has a more solid foundation. Investors should watch these support levels, stay alert for breakout signals, and seize the upcoming market rhythm.