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.

dogecoin_price_chart — DOGE/USDT. Source: TradingView

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.

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