{"id":672412,"date":"2025-01-08T16:30:34","date_gmt":"2025-01-08T16:30:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=672412"},"modified":"2025-01-08T11:06:34","modified_gmt":"2025-01-08T11:06:34","slug":"dogecoin-liquidations-24-million","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-liquidations-24-million\/","title":{"rendered":"Dogecoin Liquidations Cross $24 Million As Bulls Suffer Double-Digit Beat Down"},"content":{"rendered":"

Amid the <\/span>wider market decline<\/span><\/a>, meme coin Dogecoin has seen its price retrace by about 10% in the past 24 hours. At the same time, data from Coinglass shows that over $24 million worth of Dogecoin positions have been liquidated in the ensuing decline in the past 24 hours.<\/span><\/p>\n

Coinglass Data Highlights Extent Of Dogecoin Liquidations<\/h2>\n

According to <\/span>data from Coinglass<\/span><\/a>, Dogecoin liquidations have been among the most significant in the market in the past 24 hours, as leveraged positions failed to withstand the rapid price drop. Particularly, Dogecoin traders lost over $24.37 million in liquidations during the past day, coming in behind only Ethereum, Bitcoin, and Solana, who have witnessed $136.9 million, $111.54 million, and $31.48 million, respectively, in liquidations.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Weekly PPO Turns Red At $102,000, What It Means For The Bull Market<\/a><\/div>\n

Long positions accounted for the majority of liquidations, as bullish traders were caught off guard by the unexpected sell-off. In the case of DOGE, $21.42 million worth of long positions were liquidated, while about $2.95 million worth of short positions were liquidated.\u00a0<\/span><\/p>\n

These liquidations have also been accompanied by a strong decline in open interest in Dogecoin futures positions. According to <\/span>Coinglass data<\/span><\/a>, the open interest on Dogecoin is currently at 10.31 billion DOGE tokens, reflecting a 12.37% decline in a 24-hour timeframe. This corresponding drop in open interest suggests a cautious sentiment among Dogecoin investors as crypto bulls push through double-digit beatdowns.<\/span><\/p>\n

DOGE To Bounce Back?<\/h2>\n

The dominance of liquidated long positions shows how bullish traders were blindsided by the abrupt sell-off, which swiftly erased many of the gains in the previous four days.\u00a0<\/span><\/p>\n

This sharp correction has interrupted Dogecoin’s upward momentum, which <\/span>had been gearing up<\/span><\/a> to break above the $0.40 price level. Instead, Dogecoin bulls now face the challenge of defending key support at $0.35.<\/span><\/p>\n

Related Reading: Dogecoin Price Faces \u2018Moment Of Truth\u2019 As It Battles The Macro 0.5 Fib Extension<\/a><\/div>\n

Dogecoin’s price action in the past seven days has been characterized by intense activity, with a surge from $0.31 on January 1 to $0.395 on January 7, representing a 27.4% increase in six days. However, the past 24 hours have been riddled by a 10% correction.<\/span><\/p>\n

Nevertheless, Dogecoin continues to hold on to this <\/span>intense trading activity,<\/span><\/a> with data from Coinmarketcap showing a 90% increase in trading volume in the past 24 hours despite the liquidations. Furthermore, these sorts of <\/span>liquidations and declines <\/span><\/a>are not unusual for Dogecoin, and many holders have seen them as part and parcel of the market.\u00a0<\/span><\/p>\n

Looking ahead, Dogecoin <\/span>retains the potential for a strong rebound<\/span><\/a>, particularly if bulls can maintain support around the $0.35 level. A recovery in Bitcoin’s price above the critical $100,000 mark could further provide the broader market momentum needed to resume Dogecoin’s rally.\u00a0<\/span><\/p>\n

At the time of writing, Dogecoin is trading at $0.3505.<\/span><\/p>\n

\"Dogecoin
DOGE struggles against bearish pressure | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Amid the wider market decline, meme coin Dogecoin has seen its price retrace by about 10% in the past 24 hours. At the same time, data from Coinglass shows that over $24 million worth of Dogecoin positions have been liquidated in the ensuing decline in the past 24 hours. Coinglass Data Highlights Extent Of Dogecoin Liquidations According to data from Coinglass, Dogecoin liquidations have been among the most significant in the market in the past 24 hours, as leveraged positions failed to withstand the rapid price drop. Particularly, Dogecoin traders lost over $24.37 million in liquidations during the past day, coming in behind only Ethereum, Bitcoin, and Solana, who have witnessed $136.9 million, $111.54 million, and $31.48 million, respectively, in liquidations.\u00a0 Related Reading: Bitcoin Weekly PPO Turns Red At $102,000, What It Means For The Bull Market Long positions accounted for the majority of liquidations, as bullish traders were caught off guard by the unexpected sell-off. In the case of DOGE, $21.42 million worth of long positions were liquidated, while about $2.95 million worth of short positions were liquidated.\u00a0 These liquidations have also been accompanied by a strong decline in open interest in Dogecoin futures positions. According to Coinglass data, the open interest on Dogecoin is currently at 10.31 billion DOGE tokens, reflecting a 12.37% decline in a 24-hour timeframe. This corresponding drop in open interest suggests a cautious sentiment among Dogecoin investors as crypto bulls push through double-digit beatdowns. DOGE To Bounce Back? The dominance of liquidated long positions shows how bullish traders were blindsided by the abrupt sell-off, which swiftly erased many of the gains in the previous four days.\u00a0 This sharp correction has interrupted Dogecoin’s upward momentum, which had been gearing up to break above the $0.40 price level. Instead, Dogecoin bulls now face the challenge of defending key support at $0.35. Related Reading: Dogecoin Price Faces \u2018Moment Of Truth\u2019 As It Battles The Macro 0.5 Fib Extension Dogecoin’s price action in the past seven days has been characterized by intense activity, with a surge from $0.31 on January 1 to $0.395 on January 7, representing a 27.4% increase in six days. However, the past 24 hours have been riddled by a 10% correction. Nevertheless, Dogecoin continues to hold on to this intense trading activity, with data from Coinmarketcap showing a 90% increase in trading volume in the past 24 hours despite the liquidations. Furthermore, these sorts of liquidations and declines are not unusual for Dogecoin, and many holders have seen them as part and parcel of the market.\u00a0 Looking ahead, Dogecoin retains the potential for a strong rebound, particularly if bulls can maintain support around the $0.35 level. A recovery in Bitcoin’s price above the critical $100,000 mark could further provide the broader market momentum needed to resume Dogecoin’s rally.\u00a0 At the time of writing, Dogecoin is trading at $0.3505. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":643006,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,7,1803,1804,79599,79600],"class_list":["post-672412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Liquidations Cross $24 Million As Bulls Suffer Double-Digit Beat Down<\/title>\n<meta name=\"description\" content=\"Amid the wider market decline, meme coin Dogecoin has seen its price retrace by about 10% in the past 24 hours.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Liquidations Cross $24 Million As Bulls Suffer Double-Digit Beat Down","url":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-liquidations-24-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-liquidations-24-million\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Dogecoin_5ccc94.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Dogecoin_5ccc94.jpeg?fit=1792%2C1024"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge news","doge price","dogecoin","dogecoin news","dogecoin price","dogeusd","dogeusdt"],"dateCreated":"2025-01-08T16:30:34Z","datePublished":"2025-01-08T16:30:34Z","dateModified":"2025-01-08T16:30:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Liquidations Cross $24 Million As Bulls Suffer Double-Digit Beat Down\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-liquidations-24-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-liquidations-24-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Dogecoin_5ccc94.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Dogecoin_5ccc94.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge news\",\"doge price\",\"dogecoin\",\"dogecoin news\",\"dogecoin price\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2025-01-08T16:30:34Z\",\"datePublished\":\"2025-01-08T16:30:34Z\",\"dateModified\":\"2025-01-08T16:30:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/Dogecoin_5ccc94.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/672412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=672412"}],"version-history":[{"count":1,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/672412\/revisions"}],"predecessor-version":[{"id":672460,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/672412\/revisions\/672460"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/643006"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=672412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=672412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=672412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}