Dogecoin: Possible Bull Trap?
The crypto market has extended its rally into a third day, but Dogecoin community contributor Mishaboar has urged traders to remain cautious. Around $1.24 billion in short positions were liquidated over 24 hours, while DOGE gained 10.11% to trade near $0.0842. XRP rose 24%, Bitcoin Cash gained 21%, and Zcash added 18%. Mishaboar warned that the latest surge could become a bull trap, where a sharp rally attracts bullish positions before prices reverse lower. U.Today also points to broader market factors behind the move, including gains in hard assets such as gold, a weaker U.S. dollar and expectations of larger Treasury buybacks. With volatility rising, traders may want to focus on whether the rally can hold rather than simply follow the initial price spike. Track DOGE, BTC and other crypto rates on xbit.money and compare exchange options before making a transaction.