Happycoin.club - Recent pump and dump of Dogecoin (DOGE) caused significant losses for options traders of the meme-based cryptocurrency.
On November 19, a bullish rally resumed in the Dogecoin market, and within a few hours, the coin appreciated by 11%. However, the upward trend quickly fizzled out, and the asset's price plummeted by 10%, dropping below the level recorded before the pump.
These fluctuations had a significant impact on the options market. Due to the sharp price jumps, long positions on DOGE worth $14 million were liquidated, and short positions worth $13.8 million were also liquidated. Traders who opened both longs and shorts incurred approximately equal amounts of losses.