{"id":2473,"date":"2025-01-21T05:11:08","date_gmt":"2025-01-21T05:11:08","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/dogecoin-traders-lose-over-60-million-in-24-hours-amid-largest-liquidation-event-in-2025-so-far\/"},"modified":"2025-01-21T05:11:08","modified_gmt":"2025-01-21T05:11:08","slug":"dogecoin-traders-lose-over-60-million-in-24-hours-amid-largest-liquidation-event-in-2025-so-far","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/dogecoin-traders-lose-over-60-million-in-24-hours-amid-largest-liquidation-event-in-2025-so-far\/","title":{"rendered":"Dogecoin Traders Lose Over $60 Million In 24 Hours Amid Largest Liquidation Event In 2025 So Far"},"content":{"rendered":"

Dogecoin traders have lost over $65 million in 24 hours amid the largest liquidation event<\/a> in this year so far. This development came as the DOGE price crashed violently after climbing to as high as $0.43 on Sunday.\u00a0<\/p>\n

Dogecoin Traders Lose Over $60 Million In 24 Hours<\/h2>\n

short positions liquidated.<\/p>\n

These short liquidations likely occurred earlier on Sunday, when the Dogecoin price<\/a> reclaimed the $0.40 support level and rebounded to as high as $0.43. However, the price action took a drastic turn later in the day, crashing from the intra-day high of around $0.43 to as low as $0.35, leading to the flush in long positions.\u00a0<\/p>\n

Dogecoin traders weren\u2019t the only ones who suffered significant losses. Other crypto traders lost substantial sums as the crypto market witnessed its largest liquidation event this year, with over $1 billion liquidated in the last 24 hours, according to Coinglass data. Long traders took the most hit, with $903.59 million in long positions liquidated. Meanwhile, $260 million in short positions were liquidated.\u00a0<\/p>\n

These liquidations occurred as the Bitcoin price<\/a> dropped from as high as $106,000 to $100,000, dragging other coins, including Dogecoin, along with it. This price drop across the board occurred mainly due to the US First Lady Melania Trump\u2019s launch of her meme coin, \u2018MELANIA,\u2019 which drained liquidity from other coins in the market.\u00a0<\/p>\n

Dogecoin traders were also bound to take a significant hit considering DOGE\u2019s strong price correlation with BTC. As such, a Dogecoin price crash was inevitable as the flagship crypto nosedived to as low as $100,000.\u00a0<\/p>\n

The Cycle Is Not Over<\/h2>\n

Crypto analyst Kevin Capital<\/a> provided optimism for Dogecoin traders, stating that the cycle is not over. The analyst also reminded those upset at Donald Trump and his team about the \u2018TRUMP\u2019 and \u2018MELANIA\u2019 meme coins that Dogecoin could easily have remained at $0.11 if the incoming president had not won the elections instead of Kamala Harris.<\/p>\n

As such, he urged Dogecoin investors and traders to be grateful for how far DOGE has come since November 5th, 2024, when Trump won the elections. Indeed, Trump\u2019s victory was the primary catalyst for Dogecoin’s gains last year. The foremost meme coin had maintained a tepid price action for most of last year until Elon Musk\u2019s Department of Government Efficiency<\/a> (D.O.G.E), coined from DOGE, looked likely to come to life as Trump led the polls.\u00a0<\/p>\n

At the time of writing, the Dogecoin price is trading at around $0.36, down over 8% in the last 24 hours, according to data<\/a> from CoinMarketCap.<\/p>\n

\"Dogecoin\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Dogecoin traders have lost over $65 million in 24 hours amid the largest liquidation event in this year so far. This development came as the DOGE price crashed violently after climbing to as high as $0.43 on Sunday.\u00a0 Dogecoin Traders Lose Over $60 Million In 24 Hours short positions liquidated. These short liquidations likely occurred…<\/p>\n","protected":false},"author":1,"featured_media":2474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[131],"tags":[1452,1453,1454,1455,133,374,134,132,216,375,157,135,462,585,646,1456,463],"class_list":["post-2473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-coinglass","tag-coinmarketcap","tag-d-o-g-e","tag-department-of-government-efficiency","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt","tag-donald-trump","tag-elon-musk","tag-kamala-harris","tag-melania","tag-trump"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=2473"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2474"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}