The digital currency market has experienced a substantial decline, with top assets like Dogecoin seeing their values drop significantly overnight. The total market liquidations have surged to $171 million within 24 hours, with Dogecoin being the third most liquidated asset after Bitcoin and Ethereum. The meme coin's liquidations amount to $3.09 million, with long traders being the hardest hit, accounting for $2.89 million of the total.

The significant liquidation was triggered by Dogecoin's price drop to $0.1191, a 5% decrease in the past 24 hours. Currently, Dogecoin is trading at one of its lowest levels over the past month, indicating a potential price floor. The coin's price is highly sensitive to market trends and bullish on-chain activities, suggesting that a price rebound is likely if a price floor has been established.

The potential resurgence in Dogecoin's price could be driven by whale accumulations and sustained bullish buying sentiment, as evidenced by the 111% increase in trading volume to $673,997,088. In the short term, Dogecoin's price target is set at $0.1745, the highest level it has recorded over the past month.

The significant downturn in the digital currency market and Dogecoin's value highlights the market's volatility and sensitivity to trends and sentiment. However, the potential price rebound suggests that Dogecoin may be due for a significant increase in value.

In conclusion, the digital currency market's significant downturn and Dogecoin's plummeting value highlight the market's volatility, but also suggest a potential price rebound driven by whale accumulations and bullish sentiment. As the market continues to fluctuate, investors and traders are closely watching Dogecoin's price movement, anticipating a potential resurgence in its value.