The liquidation highlights the crypto market&#8217;s vulnerability to volatility, 
emphasizing the need for cautious leverage use amid macroeconomic 
uncertainties.
The post Over $388M in long positions liquidated from crypto market in 24 
hours appeared first on Crypto Briefing.

Over $388M in long positions liquidated from crypto market in 24 hours

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Doggy-themed meme coin Dogecoin (DOGE) has once again slipped into oversold 
territory, as rising volatility and weak price action continue to drive 
investors toward the exit. While this may seem bearish on the surface, 
analysts note that this oversold region has historically preceded Dogecoin’s 
cycle bottoms. They predict that once a price floor is established, it could 
signal the end of the meme coin’s prolonged downtrend and potentially pave the 
way for a fresh bullish trend. Dogecoin Oversold Level Signals Incoming Bottom 
Selling pressure has been building steadily for Dogecoin, with broader bearish 
sentiment weighing heavily on the meme coin’s short-term outlook. Adding to 
the concern, market expert Cryptollica revealed in an X post on May 12 that 
Dogecoin has officially entered oversold regions on the weekly Relative 
Strength Index (RSI). Related Reading: Dogecoin Price Set To Hit $5 Amid New 
Influx From Smart Money? What makes this development particularly interesting 
is just how rare it occurs. According to the analyst, a return to the weekly 
RSI oversold zone has only occurred four times in 12 years. Moreover, he added 
that each time this happens, Dogecoin has reached a final price bottom, 
completely resetting its market. Sharing a chart, Cryptollica noted that 
during the 2015 cycle, DOGE entered oversold territory on the weekly RSI and 
found a cycle bottom right after. Similarly, in 2020, the cryptocurrency did 
the same, recording a price floor during the COVID-19 crypto market crash. 
Later in 2022, a year after the historic 2021 bull market, Dogecoin also 
entered oversold territory and formed its third cycle bottom. Now in 2026, 
Cryptollica believes that the meme coin has repeated the same historical 
trend. His accompanying chart shows that Dogecoin has formed a cycle bottom 
around the $0.10 range as its price navigates oversold levels. During the past 
cycles, the analyst noted that the market was saturated with various negative 
emotions, including fear, anger, and disbelief, as investors lost confidence 
and sold their coins. He said that the crowd wrote off Dogecoin as a dead coin 
when it entered this bearish phase. However, to him, this phase was a “rare 
cycle-location signal” that could fuel a fresh bull rally. Based on this view, 
the analyst has projected a bullish target of $5 on his chart once Dogecoin 
confirms its anticipated market bottom. A move to that level would represent a 
gain of roughly 4,900% from current levels around $0.115. Oversold DOGE Zone 
Reveals Major Buying Opportunity In another post, Cryptollica said Dogecoin is 
offering a rare buying opportunity after entering its rare oversold territory 
that has only appeared a few times. The analyst stated that most people will 
miss this opportunity because the best cycle signals arrive when the chart 
looks dead, not when the crowd is excited. Related Reading: Dogecoin Trap 
Shows A Major Crash, But How Low Will The Price Go? The analyst noted that 
each time this oversold zone emerged, the market was not paying attention. In 
2015, investors ignored Dogecoin, and then they feared it during the 2020 
crash. Moreover, the market entered a state of exhaustion when the zone 
reappeared in 2022, and now, in 2026, it presents the exact same rare signal. 
Featured image from Getty Images, chart from Tradingview.com

Dogecoin Has Now Entered Oversold Levels That Has Led To Previous Cycle Bottoms

Antseed has launched a decentralized and peer-to-peer (P2P) marketplace 
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Bitcoin fell to $78,600 on May 15 as bond yields surged to a 12 month high, 
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Over $388M in long positions liquidated from crypto market in 24 hours

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