Dogecoin (DOGE) Disappoints Bears With 375% Liquidation Imbalance

Dogecoin Position Liquidations Surge, Bulls Dominate

Data from CoinGlass reveals that cryptocurrency position liquidations surpassed $111.44 million in the past 24 hours. Notably, the liquidations were not evenly distributed across assets.

Dogecoin (DOGE), a prominent meme cryptocurrency, exhibited an imbalance in liquidations. Out of a total $5.91 million in liquidations, $4.66 million represented short position liquidations. This suggests that bears who anticipated a price decline experienced nearly four times the losses compared to bulls.

Dogecoin Price Outlook

Intriguingly, amidst the market downturn last weekend, traders anticipated further declines and opened short positions. However, the trend reversed, and DOGE not only rebounded but also surged by 15.62%.

Despite Friday's setback, the liquidation distribution has stabilized across the cryptocurrency market. However, Dogecoin remains an exception, with bulls firmly in control.

Source: U.Today