NewsBTC
21 January 2025
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Dogecoin Traders Lose Over $65 Million in 24 Hours

Dogecoin traders experienced over $65 million in losses within 24 hours due to a significant market downturn. This followed a DOGE price decline from $0.43 to $0.35.

Key Points

  • Losses totaled $65 million, with $54.81 million from long positions and $7.90 million from short positions.
  • The overall crypto market saw over $1 billion liquidated, primarily affecting long positions.
  • Bitcoin's drop from $106,000 to $100,000 contributed to the downturn, influenced by the launch of Melania Trump's meme coin.
  • Dogecoin's strong correlation with Bitcoin intensified its losses during this period.
  • Current Dogecoin price is approximately $0.36, down over 8% in the last 24 hours.

Dogecoin