Dogecoin (DOGE) Liquidations Surpass $2.67 Million Amidst Market Volatility

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Published: December 06, 2023 at 3:14 am Updated: December 06, 2023 at 3:14 am

Edited and fact-checked:
December 06, 2023 at 3:14 am

In Brief

In the last hour, Dogecoin and ORDI have seen liquidations exceeding $2.67 million and $2.15 million respectively, contributing to a total network liquidation of over $10 million, reflecting significant market volatility.

Recent data from Coinglass revealed a notable increase in liquidations within the cryptocurrency market, with Dogecoin (DOGE) and ORDI experiencing significant losses.

In the past hour, Dogecoin’s liquidation surpassed $2.67 million, while ORDI’s exceeded $2.15 million. This trend is indicative of the heightened market activity and volatility in the cryptocurrency sector.

The entire network faced liquidations amounting to more than $10 million, with DOGE and ORDI accounting for a significant portion of this value. This surge in liquidations reflects the dynamic nature of the crypto market.

For DOGE, the liquidation included $338,900 from long orders and $1.7595 million from short orders. The breakdown provides insights into the current market sentiment and investor behavior regarding Dogecoin.

ORDI’s liquidation totaled $2.1572 million, with long orders constituting the entire amount — indicating a considerable market shift for ORDI, impacting both investors and the broader market.

The high value of liquidations in both DOGE and ORDI showcases the ongoing volatility and unpredictability within the cryptocurrency market. These fluctuations can have significant implications for investors and traders.

The substantial liquidations highlight concerns regarding market stability and the inherent risks associated with investing in cryptocurrencies. These events underscore the need for cautious investment strategies in the volatile crypto market.

As the cryptocurrency market continues to evolve, the recent liquidations of DOGE and ORDI serve as a reminder of the risks involved in trading digital assets. Investors and traders are advised to remain vigilant and informed to navigate these market dynamics effectively.

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About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti