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20,168,692 Dogecoin (DOGE) Liquidated in 24 Hours, What Happened?

Author: Content Editor
In the last 24 hours, Dogecoin (DOGE) has experienced a mild decline in value, despite the overall bullish market cycle. Dogecoin investors have seen $20.17 million in liquidations during this period. The total liquidation amount came to $8.12 million, coinciding with a drop in DOGE's price. Investors had expected DOGE to continue climbing and potentially reach $0.50, but market volatility caused a decline. Currently, DOGE is trading at $0.4069, with a 0.82% drop in the last 24 hours. Investors' confidence has decreased, as the market volume also decreased by 25.76%. Long-position traders lost $6.39 million in liquidations, while short-position traders lost $1.73 million. Other meme coins like PEPE, SHIB, and WIF also experienced liquidations, with higher losses for long traders. Despite Bitcoin's price rally, DOGE has not been able to surpass the $0.408 resistance level. Dogecoin's pattern of high liquidations has mirrored Bitcoin's. Bitcoin had a total of $59.95 million in liquidations, while Ethereum recorded the largest liquidation amount among altcoins at $46.72 million.

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