Dogecoin bleeds 14% in June with $132 mln in unrealized losses - What now?

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Dogecoin bleeds 14% in June with $132 mln in unrealized losses – What now？

Unrealized losses stood at $132.2 million, while only $5 million sat in profits, according to. Thats a 26:1 ratio — meaning for every winning trade, 26 were bleeding red.

Source: Glassnode

Taker Sell Volume outweighed buys, with 51.97% of the trades coming from shorts.

Source: CoinGlass

Meanwhile, the Long/Short Ratio fell to 0.92, suggesting bearish dominance is tightening its grip. This metric falling below 1 usually signals rising short pressure, hinting that sellers are dictating the pace for now.

Another metric to showcase short traders case is the Liquidation Heatmap.

DOGEs Liquidity Heatmap revealed stacked clusters below $0.165 — the current price zone. These clusters, typically unfilled leveraged orders, act like a gravitational pull.

Source: CoinGlass

Naturally, the price is expected to drift toward them, and if that happens, DOGE could test $0.162 or even slide to $0.159. These are critical liquidation zones for long positions.

If hit, that would flip unrealized short losses into realized gains.

Are traders losing interest？

Source: CoinGlass

This accumulation suggested that some investors are positioning for a potential breakout to the upside. Bullish activity has so far helped suppress a steeper price decline.