It wasn't long ago that most people thought Dogecoin (DOGE) would hit $1. Optimism surrounding this prediction was severely damaged, regrettably.



As the market as a whole fell on June 17, the memecoin Dogecoin (DOGE) lost nearly 10% of its value in the previous day. This also had an effect on traders who had open contracts.



Traders' strategies are shifted due to significant losses.

Between June 17 and June 18, DOGE liquidations totaled $60.27 million, according to Coinglass. On Monday, it hit $44.21 million, and as of this writing, it has reached $16.06 million.

When a trader's position is forcibly closed by the exchange to avoid additional losses, this is called a liquidation. The majority of these positions were quite lengthy, which is quite characteristic. A total of $59.84 million has been liquidated from long Dogecoin positions, while $633,910 has been liquidated from short ones. Following the surrender, traders keep putting bearish bets ahead of bullish ones.


$DOGE