Unprecedented Market Shift: Liquidations Reach Historic High Across Major Cryptocurrencies
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**20,168,692 Dogecoin (DOGE) Liquidated in 24 Hours, What Happened?**
In the past 24 hours, a staggering amount of $59.95 million was liquidated in Bitcoin (BTC), with Ethereum (ETH) also witnessing significant losses. However, amidst this chaos, an unusual trend emerged – Dogecoin (DOGE) saw a massive liquidation of 20,168,692 coins, leaving traders puzzled.
The cryptocurrency market has been experiencing unprecedented volatility lately, and it appears that DOGE is not immune to these fluctuations. According to recent reports, DOGE’s price surged in the last 24 hours, with a significant climb. However, despite this upward trend, long-position traders suffered substantial losses of $42.73 million.
Ethereum (ETH) took center stage as the asset witnessing the largest liquidation among altcoins, with long-position traders logging an astonishing $28.05 million in losses and short traders suffering a $18.67 million hit.
In sharp contrast to this trend, DOGE’s liquidations reached a staggering 20,168,692 coins, a stark difference from the other major cryptocurrencies. It is essential to note that despite the recent surge in price, DOGE has consistently struggled to surpass the $0.408 resistance level.
The reasons behind this massive liquidation are still unclear, but traders should be cautious of any further market fluctuations.
Source: u.today
