Over the past 24 hours, the cryptocurrency market has seen over $200 million in liquidations from more than 92,000 traders. Dogecoin (DOGE) has been the most impacted meme coin, with liquidations totaling $12.02 million. CoinGlass data shows that the majority of liquidations came from short positions, with over 43 million DOGE liquidated in just 24 hours. Short liquidations exceeded long liquidations by almost twice, leading to an imbalance in DOGE futures trading. The price of DOGE has increased by 2.9% in the last 24 hours and trading volume has spiked by 38.41%, indicating increased investor activity. The price of DOGE may continue to climb as short sellers are squeezed out of the market. Additionally, the acknowledgement of DOGE ETF filings by the SEC suggests potential increased adoption among institutions, which could further drive the price of DOGE. DOGE has also formed a traditional cup pattern, indicating more bullish momentum in the future.



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