Dogecoin

Read

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
As we learned thanks to data from<a href="https://www.coinglass.com/LiquidationData">CoinGlass</a>, the volume of cryptocurrency position liquidations on the derivatives market over the last 24 hours totaled more than $111.44 million.
However, despite the impressive size, what is more interesting is the imbalance of liquidations seen in popular meme cryptocurrency<a href="https://u.today/dogecoin-doge-epic-price-rally-coming-says-top-analyst">Dogecoin (DOGE)</a>.
During the period under review, the volume of<a href="https://u.today/dogecoin-doge-eyes-multi-week-breakout-as-volume-jumps-95">DOGE</a> liquidations totaled $5.91 million. However, $1.25 million of this is the liquidation of long positions, while 4.66% of the rest is the liquidation of short positions.
<img src="https://u.today/sites/default/files/inline-images/dogeusdt_7.png" data-entity-uuid="facf3c2c-9c43-481c-aeb1-b3ad4dcb67d6" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://www.coinglass.com/LiquidationData&quot;>CoinGlass</a>">
Thus, we can state that the volume of liquidated positions of the bears, who believed that the price of Dogecoin should fall, was almost four times higher than that of the bulls.
<h2 dir="ltr" id="dogecoin-doge-price-outlook">Dogecoin (DOGE): Price outlook</h2>
What is fascinating, in the midst of the decline of the cryptocurrency market last weekend, is that many market participants expected that this was not the end and started to open short positions, which eventually led to such unequal dynamics.
The reality turned out to be different, and<a href="https://u.today/dogecoin-cofounder-breaks-silence-on-meme-coins-profitability">Dogecoin</a>, for example, not only fully recovered from Friday's drop but also reached higher price levels on the back of 15.62% growth.
<img src="https://u.today/sites/default/files/inline-images/dogecoin_13.png" data-entity-uuid="c1dba20e-aa03-4a56-a0a0-2ff592c164c0" data-entity-type="file" alt="&quot;&quot;" data-caption="DOGE to USD by <a href=&quot;https://coinmarketcap.com/currencies/dogecoin/&quot;>CoinMarketCap</a>">
Amid all this turmoil, even though Friday's drop severely hampered bulls' plans, the liquidation layout came to an almost even keel. We can say that the cryptocurrency market is now in a state of uncertainty.
However, this is not the case for Dogecoin, where the bulls have clearly pulled the rope to their side. <a href="https://u.today/dogecoin-doge-disappoints-bears-with-375-liquidation-imbalance">Read original article on U.Today</a>

Dogecoin (DOGE) Disappoints Bears With 375% Liquidation Imbalance

Table of Contents

U_Today

Other articles published on Oct 28, 2024

Tether Reveals Company Asset Reserves Amid Scrutiny

Avalanche, Dogwifhat and Rollblock: Comparing This Month’s Hot Crypto Performers

Will Dogecoin (DOGE) and PEPE Surge, or Could This New Meme Coin Take the Lead in the Next Rally?

Payments Giant Stripe Acquires Stablecoin Platform Bridge in a $1.1B Deal

CrytocoinMiner: Spending $12 million to welcome Halloween carnival

Shiba Inu Community Enhances Shiboshis Features

Join our free newsletter for daily crypto updates!