Dogecoin Liquidations Surge Amidst Market Downturn

市場低迷期間狗狗幣清算激增

Image credit: U.Today

圖片來源：今日美國

The cryptocurrency market has experienced a significant drop in the past 24 hours, triggering a major liquidation event in Dogecoin (DOGE). According to data from CoinGlass, approximately $434.64 million worth of liquidations have occurred, with Dogecoin contributing significantly to this figure.

加密貨幣市場在過去24小時內經歷了大幅下跌，引發了狗狗幣（DOGE）的重大清算事件。根據 CoinGlass 的數據，已發生價值約 4.3464 億美元的清算，其中狗狗幣對此貢獻巨大。

Dogecoin's Historic Liquidations

狗狗幣的歷史性清算

Due to its status as a meme coin, traders typically limit their exposure to DOGE. However, the recent 10.54% decline to $0.12 has resulted in substantial losses for long traders.

由於其作為模因幣的地位，交易者通常會限制其對 DOGE 的投資。然而，最近 10.54% 的下跌至 0.12 美元，導致多頭交易者遭受重大損失。

The market downturn has caused approximately $60.86 million in total liquidations, with $60.23 million attributed solely to long traders. This equates to 507,166,666 DOGE liquidated to date.

市場低迷導致總清算額約 6,086 萬美元，其中 6,023 萬美元全部歸於多頭交易者。這相當於迄今為止清算了 507,166,666 DOGE。

Exposure and Accumulation

暴露與積累

The overexposure of market participants to DOGE is evident in these liquidation figures. Despite the recent sell-off, there has been significant whale accumulation in the past, which has partially mitigated the decline and resulted in a 22% drop over the past month.

從這些清算數據中可以明顯看出市場參與者對 DOGE 的過度投資。儘管最近出現拋售，但過去鯨魚的大量積累，部分緩解了跌幅，導致過去一個月下跌 22%。

Bearish Slump Benefits

看跌暴跌的好處

While the bearish slump has caused losses for overexposed traders, it may ultimately prove beneficial for Dogecoin. The Relative Strength Index (RSI) has dropped to 28, indicating an oversold market.

雖然看跌暴跌給過度暴露的交易者造成了損失，但最終可能對狗狗幣有利。相對強弱指數（RSI）已跌至28，顯示市場處於超賣狀態。

This drawdown may exhaust the supply of DOGE available for bears to sell. At that point, a "buy the dip" trend could emerge, potentially driving a recovery in Dogecoin's value.

此次下跌可能會耗盡可供空頭出售的 DOGE 供應。屆時，可能會出現「逢低買入」趨勢，有可能推動狗狗幣價值的復甦。

If this scenario unfolds, DOGE may regain its lost market capitalization and maintain its position as the top capitalized meme coin among the top 10 cryptocurrencies.

如果這種情況發生，DOGE 可能會重新獲得失去的市值，並保持其作為十大加密貨幣中市值最高的模因幣的地位。