news 
Dogecoin Takes a Hit Amidst the Ongoing Crypto Crash: $29 Million DOGE Vanishes
The cryptocurrency market has been experiencing a significant downturn in recent days, with many coins plummeting in value. Unfortunately, Dogecoin (DOGE) was not immune to this market turmoil. In a shocking turn of events, a staggering $29 million worth of DOGE vanished as the asset’s price took a sharp dive.
In an effort to mitigate inflation and stabilize the economy, the Federal Open Market Committee decided to cut its overnight borrowing rate by 25 basis points, sending shockwaves throughout the cryptocurrency market. The move was anticipated by many, but it did not ease the widespread panic that gripped investors.
As a result of this sudden downturn, DOGE saw an unprecedented drop in value, leading to massive liquidations. In total, $661 million worth of bullish bets were liquidated, while shorts accounted for $125 million.
Source: u.today
