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The entire cryptocurrency market has experienced a steep fall in the last 24 hours, with its total market hood that dives due to double digits after a barrage of volatile price fluctuations. It is not surprising that this sharp decline has led to widespread liquidations between several assets within the earlier trading day. In particular, this wave of liquidations led to more than $ 2,22222 billion from cryptocurrencies wiped out in the last 24 hours. According to Coinglass -Data, Dogecoin traders have witnessed significant looses, with numbers that place the meme coin under the hardest assets in this liquidation event.
Dogecoin traders lose more than $ 82 million in 24 hours
Data from Coinglass reveals that Dogecoin liquidations have been the most serious in the market for the past 24 hours, such as livered positions crumbled Under the weight of fast price fluctuations. A further consideration of the data shows that the vast majority of these liquidations came from long positions, with bullish traders who lose $ 69.32 million. These traders, who usually expect a meeting this week or at least a stable market, were overwhelmed as the price of Dogecoin took a sharp turn down In addition to the rest of the market, the forcing of liquidations and losing a step -by -step.
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Interesting is that, despite the wider trend that leaned to a price fall, short sellers were not spared from the liquidation razor. Data shows that $ 13.35 million was liquidated in short positions, which suggests that short price peaks took place during the general downward trend. These temporary peaks may have caused stop losses for some short traders, which leads to forced liquidations, even when the total process kept.
Market -wide liquidations Top $ 2.22 billion in the middle of high volatility
The Cryptocurrency market started the new week on a bearish note after a period of consolidation during the past week. Bitcoin, who had retained relative stability, saw a sharp decline As the weekend ended, under $ 100,000 on Sunday and the downward movement continued to extend from there.
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The decline of Bitcoin led to a broader sales market, with various large cryptocurrencies that are according to the example. At the time of writing, global crypto market capitalization has fallen by around 11% in the last 24 hours and it has now been $ 3 trillion, the lowest level since November 15, 2024. As such, the wider cryptocurrency market has experienced a brutal shakeout in The last 24 hours, with liquidations that exceed $ 2.22 billion.
Bitcoin and Ethereum traders have taken the biggest hits in this liquidation spree. Bitcoin alone has registered more than $ 406.96 million in liquidated positions, with the majority of transactions of $ 341.36 million in the last 24 -hour transactions. Ethereum traders have experienced the toughest Liquidations, with $ 601 million in positions wiped out.
With Dogecoin with $ 82.67 million in liquidations, the aftermath of this sale could form the stage for increased volatility alongside other cryptocurrencies in the short term. At the time of writing, Dogecoin acts at $ 0.235, with 22.5% in the last 24 hours.
Featured image of Adobe Stock, Chart van TradingView.com
