200% Dogecoin Liquidation Imbalance Resurfaces as Price Rebounds
The post 200% Dogecoin Liquidation Imbalance Resurfaces as Price Rebounds appeared on BitcoinEthereumNews.com. In the last 24 hours, the Dogecoin (DOGE) price jumped by over 3% to a peak of $0.2335 as positive sentiment supported the asset’s growth. However, the rebound move of the meme coin on the cryptocurrency market has triggered massive liquidation up to 200% within the same time frame. Shorts get squeezed as DOGE follows Bitcoin’s rally CoinGlass data reveals that traders betting on DOGE lost a total of $8.81 million during this period. Notably, the market recorded a staggering 200% liquidation imbalance as short position traders suffered more losses in the past hour. Within this period, long traders recorded $18.62, while short position traders shed $741,090. You Might Also Like The investors who did not expect a price rally were stunned when broader market dynamics impacted the Dogecoin ecosystem. For instance, Bitcoin registered an uptick in price within the period, rising from $104,000 to $108,000 before correcting to $106,000. It is likely that Dogecoin mirrored the surge in Bitcoin and left short traders with losses. Long-position DOGE traders recorded lesser losses, with $3.51 million wiped out. Interestingly, Bitcoin traders witnessed the same liquidation imbalance, with short-position traders losing $46.68 million as against $20.56 million lost by long-position traders. As of press time, DOGE was changing hands at $0.2259, a drop from its earlier peak of $0.2335, which resulted in the liquidation. Meanwhile, the uptick in price has supported trading volume, which has risen by 11.91% to $2 billion. Will DOGE break higher or face selling pressure at $0.36? You Might Also Like According to a recent U.Today report, Dogecoin might face resistance at $0.36, a significant supply wall that could trigger selling pressure if tested. Investors might keep a watchful eye on the level as the meme coin continues its bullish rally. The ability of DOGE bulls to push…
The post 200% Dogecoin Liquidation Imbalance Resurfaces as Price Rebounds appeared on BitcoinEthereumNews.com.
In the last 24 hours, the Dogecoin (DOGE) price jumped by over 3% to a peak of $0.2335 as positive sentiment supported the asset’s growth. However, the rebound move of the meme coin on the cryptocurrency market has triggered massive liquidation up to 200% within the same time frame. Shorts get squeezed as DOGE follows Bitcoin’s rally CoinGlass data reveals that traders betting on DOGE lost a total of $8.81 million during this period. Notably, the market recorded a staggering 200% liquidation imbalance as short position traders suffered more losses in the past hour. Within this period, long traders recorded $18.62, while short position traders shed $741,090. You Might Also Like The investors who did not expect a price rally were stunned when broader market dynamics impacted the Dogecoin ecosystem. For instance, Bitcoin registered an uptick in price within the period, rising from $104,000 to $108,000 before correcting to $106,000. It is likely that Dogecoin mirrored the surge in Bitcoin and left short traders with losses. Long-position DOGE traders recorded lesser losses, with $3.51 million wiped out. Interestingly, Bitcoin traders witnessed the same liquidation imbalance, with short-position traders losing $46.68 million as against $20.56 million lost by long-position traders. As of press time, DOGE was changing hands at $0.2259, a drop from its earlier peak of $0.2335, which resulted in the liquidation. Meanwhile, the uptick in price has supported trading volume, which has risen by 11.91% to $2 billion. Will DOGE break higher or face selling pressure at $0.36? You Might Also Like According to a recent U.Today report, Dogecoin might face resistance at $0.36, a significant supply wall that could trigger selling pressure if tested. Investors might keep a watchful eye on the level as the meme coin continues its bullish rally. The ability of DOGE bulls to push…
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