Dogecoin derivatives trading saw a surge in liquidations over the past 24 hours, with 92.36% of them being long positions, a phenomenon attributed to latecomers and overleveraged traders misjudging risk. Despite a recent price spike, the trend continued, highlighting the volatile nature of the meme cryptocurrency.
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We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Derivatives trading with the popular meme cryptocurrency witnessed an abnormal imbalance in the last 24 hours. The total liquidated Dogecoin positions amounted to $13.88 million which, considering a total number for the cryptocurrency market at $402.63 million is not much, still makes DOGE one of the largest assets by this parameter. However, the issue is not the size of Dogecoin liquidations, but their nature, as 92.36% of them are long positions. If we try to formulate an even wilder figure, the amount of liquidated longs is 1,209% more than the total of liquidated shorts. The reason is, as always, simple: latecomers or overleveraged traders fail to assess risk properly and, as a result, receive margin call notices from the exchanges. Dogecoin has been trading like it is about to perform a major pump, with a series of lower highs and higher lows. Considering the fact that Bitcoin was marking its all-time high at the same time, and that DOGE often follows the major cryptocurrency, the picture on the price chart looked promising. However, the price broke out to zero and liquidated a large portion of long positions. After that, we saw another bounce today as the price of Dogecoin spiked up 1.5%. However, this was not successful and led to more bullish liquidation.Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management
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