Mastiff (DOGE) has experienced light liquidation in the past 24 hours, as Coinglass revealed data. In particular, long -position traders of the memes part have undergone more liquidations than the losses recorded by short position traders.
Dogecoin long merchants face $ 6.91 million in liquidations
Dogecoin investors have lost more than 33,412,604 Doges worth $ 8.44 million. The figures show a liquidation imbalance, the long position traders recording $ 6.91 million. Investors who are short of Doge have lost a total of $ 1.53 million.
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Although very blatant with DOGE, this imbalance has also affected other notable active ingredients such as Bitcoin, Ethereum and Solana.
The liquidation imbalance experienced by Dogecoin investors in the prolonged position results from its price performance in the last seven days. Earlier, Doge’s price trajectory seemed to be stabilized above the level of $ 0.29, which increases the anticipation of an increased race.
However, DOGE quickly went from $ 0.2918 and dived as low as $ 0.2396. This unexpected drop in price affected traders who were betting for a long time on Doge.
Analysts highlight this development as signaling the unpredictability of the cryptocurrency sector, which can easily succumb to price volatility.
When writing these lines, the Doge’s price was change Hands at $ 0.251, representing a 1.52% drop in the last 24 hours.
However, investors remain optimistic of a price rebound, because the negotiation volume jumped 54.26% to reach $ 1.48 billion. This increased interest among investors could help Doge reach new levels.
Could the renewal of investor interests bounce?
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Like U.TODAY reportedWhen Doge’s negotiation volume soaked on February 7, there was a corresponding price increase. On this occasion, the merchants flocked to invest in the memes play while the market was recovering in the cryptographic space.
Experts expect the room even soon, because there has been an increase Open interest In the last 48 hours. The data show that more than $ 2.2 billion was engaged in a Dogecoin boom, a development that could support the action of positive prices.