The market data is making people feel uneasy.

A certain whale placed a sell order for 420 million DOGE at 0.147, equivalent to 62 million USD. Meanwhile, 31,000 put options are set to expire at a certain exchange, causing the buy depth on Binance to evaporate by 72%—now only 12 million USD is holding it up. What's worse is that if it drops below 0.143 tonight, 1.5 billion USD in long positions will be directly liquidated.

This operation is too ruthless, a typical case of "pretending to repair the road while secretly building a passage."

The entire shipping process can be broken down into four steps: first, create the illusion of an "iron bottom" through algorithmic trading between 0.143 and 0.147, making people think that someone is defending the market; secretly, every day, throw 180 million DOGE through off-market channels, which can be verified on-chain; at the same time, buy put options in the options market to lock in profits; finally, wait for a negative news to come out and directly break through the support level to harvest.

On-chain data further illustrates the issue. The top ten addresses reduced their holdings by 530 million DOGE within three days, with the funding rate dropping from positive 0.02% to negative 0.05%. Long positions were cut by 41%, while short positions surged by 280%. With these signals combined, there isn't much more to say.

If you still hold a long position on DOGE, you need to consider three things:

First, clear out near the current price of 0.145 without hesitation. Second, if it rebounds to 0.146-0.147, you can try shorting in batches, with a stop loss set at 0.150, aiming to see if you can capture 0.135. Third, set a price alert, and if it falls below 0.143, go for a short.

There are a few iron rules for position management: do not exceed 1% of the total capital for a single opening; Meme coins can have volatility of over 100%; withdraw the principal once you have a 30% profit; and the most important rule - never try to catch the bottom, going to catch a falling knife now is equivalent to cutting off your own wrist.

The market is never short of opportunities, but the prerequisite is that you have to survive.