A post shared by Dogecoin’s official X handle caught the attention of the cryptocurrency community, even as the market faces a decline after $1 billion disappeared in liquidations.
“Someone needs to tell the chart to stop being a downward dog,” Dogecoin’s official X account tweeted.
Someone needs to tell the chart to stop being a descending dog pic.twitter.com/G7spjqyK1R
— Dogecoin (@dogecoin) June 24, 2026
The timing of this post coincided with the downtrend seen on price charts across multiple time frames, despite an extended bear market in cryptocurrencies.
According to data from CoinGlass, digital assets have declined significantly in the past 24 hours, with $1 billion in positions liquidated across the crypto market.
The decline triggered about $778 million in long-term liquidations, or bets on highs that automatically close out as prices fall, while short-term liquidations totaled $222 million.
Dogecoin recovered slightly in Wednesday’s session after falling to a low of $0.072 in a two-day decline. As of this writing, Dogecoin is still in the red, down 3.14% to $0.076 in the past 24 hours and down 10% for the week.
Dogecoin has been in a steady decline since mid-June, recording declines in 7 out of 10 days since June 14th.
What happens next?
The crypto market has been experiencing a bear market lasting more than eight months, fueled by macroeconomic and industry-specific headwinds. Capital is moving into AI stocks, hot IPOs, and prediction markets.
Meanwhile, the main upside for the broader crypto industry is the market structure bill known as the CLARITY Act, which has about five weeks to clear key legislative hurdles before Congress recesses for the summer.
In the very short term, Thursday’s PCE inflation data, the Fed’s preferred price indicator, will be the next data point that could move the market in either direction.
The release of personal consumption expenditure (PCE) data is scheduled for Thursday at 8:30 ET. If core PCE exceeds expectations, expectations for a Fed rate hike will increase, potentially weighing on stocks and cryptocurrencies.
