The cryptocurrency market experienced significant liquidations totaling 468.45 million USD in just 24 hours, affecting 131,342 traders. Dogecoin (DOGE) alone accounted for 11.26 million USD worth of liquidations, corresponding to 71,190,773 DOGE lost.
Short traders faced substantial losses amounting to 6.81 million USD, contrasting with 4.45 million USD lost by long traders. This imbalance highlights the risks of betting against DOGE’s price movements.
Amid these liquidations, DOGE’s price increased by 6.6% to 0.1560 USD, catching many investors off guard. Additionally, its market cap rebounded to 23.34 billion USD, supported by future plans for a Dogecoin exchange-traded product.
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