Dogecoin Price Dips on May 27: Traders Scoop Up $16 Million in DOGE Amid Market Correction!

Jakarta, Pintu News – Dogecoin (DOGE) experienced a price drop of 4.97%, which caused the price trend to move downwards. This decline is inversely proportional to the price movement over the past month, where DOGE actually recorded an increase of 20.57%.

The AMBCrypto page explores various market factors that could affect the direction of DOGE’s price movements going forward, especially as market sentiment shows mixed dynamics.

Before that, what is the current price movement of Dogecoin?

Dogecoin Price Drops 0.84% within 24 Hours

On May 27, 2025, Dogecoin experienced a modest 24-hour price correction of 0.84%, bringing its value to $0.2246, or approximately IDR 3,647. During the day, DOGE reached a high of IDR 3,730 and dipped to a low of IDR 3,603.

At the time of writing, Dogecoin’s market cap stands at around $33.54 billion, with trading volume dropping 21% to $1.14 billion within 24 hours.

Read also: Dogecoin Runs the Indy 500 Circuit, Donates $26,000 to Children’s Hospitals!

Traders Buy $16.91 million Worth of DOGE

As reported by AMB Crypto (5/26), DOGE is currently facing an important resistance level which, on five previous occasions, has always triggered a price correction. Only once did the price manage to stay above that level.

Except on the third occasion, DOGE has not experienced a significant price drop – a possibility that may not be the case this time around, as a number of other metrics favor a potential upward move.

An analysis of trader activity in the spot market shows that buying interest has increased since the last time DOGE entered the demand zone.

At the time of writing, traders have just bought $16.91 million worth of DOGE, as shown by the Exchange Netflow data.

This Netflow data not only confirms the buying, but also shows that these spot traders are likely to buy for the long term, as they have moved their assets from exchanges to personal wallets.

In addition, DOGE’s Open Interest Weighted Funding Rate continues to show an increase, now standing at 0.0047%.

A positive number on this metric confirms that contracts running in the market are still dominated by traders with long positions.

Read also: 5 Potential Coin Memes of June 2025!

With increased interest from traders in both the spot and futures markets, DOGE has the potential to return to its previous upward trend.

Liquidation Map Hints at DOGE’s Movement

In fact, DOGE’s Liquidation Heatmap shows an active cluster above the current price. The yellow zone on the map reflects a potential liquidation worth almost $1.4 million.

Historically, prices tend to move towards highly liquid areas like this.

If this scenario occurs, it could be a major catalyst for an upward trend in prices, allowing these coins to record further gains.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• AMB Crypto. Dogecoin’s price sees red, but $16.91M buying activity might say otherwise! Accessed on May 27, 2025