Surpassing Bitcoin: $300 Million DOGE Positions Liquidated as Dogecoin Price Rallies 1000% in 24 Hours
Dogecoin is all the rage over the past 24 hours on the cryptocurrency market. The cryptocurrency skyrocketed by almost 1000% and even managed to enter the top 10 for a brief period of time.
- Dogecoin (DOGE) saw a rally of around 950% in the past 24 hours alone. The cryptocurrency topped at around $0.082 a few hours ago and has since corrected to where it’s currently trading at.
- As CryptoPotato reported yesterday, this happened because the ‘Chairman’ of the popular Wall Street Bets group tweeted about it, asking if it has ever reached $1.
- This propelled a swarm of retail interest, which sent the price for the skies.
- Other major accounts, including Elon Musk, also tweeted about the coin, adding up to the euphoria.
- However, this has all added up to about $300 million of liquidations in the past 24 hours on both long and short DOGE positions.
- The most interesting bit is that the liquidations on DOGE are about $30 million more than those on Bitcoin. Third in line is Ethereum’s ETH.
- In any case, the cryptocurrency has now retraced to about $0.043, which is about 50% less than its peak from just a few hours back.
