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    Home » Crypto News » Surpassing Bitcoin: $300 Million DOGE Positions Liquidated as Dogecoin Price Rallies 1000% in 24 Hours

    Surpassing Bitcoin: $300 Million DOGE Positions Liquidated as Dogecoin Price Rallies 1000% in 24 Hours

    Author: George Georgiev

    Last Updated Jan 29, 2021 @ 07:32

    The liquidated positions on DOGE are more than these on Bitcoin for the past 24 hours following the massive 1000% rally.

    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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    Tags: Bitcoin Dogecoin
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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