$96.8K worth of long positions in Dogecoin
($DOGE ) were liquidated when the price reached $0.310.
What happened:
1. Liquidated Long Positions: Traders who were betting on the price of $DOGE to rise (long positions) had their positions forcibly closed because the price fell below their liquidation level.
2. Amount Liquidated: $96.8K in total value of leveraged long positions was liquidated, meaning traders lost this amount due to insufficient collateral to maintain their positions.
3. Price Level: The liquidation occurred when DOGE's price was at $0.310, implying a sharp movement in the market.
Insights:
Market Volatility: A high liquidation figure like $96.8K suggests significant volatility and potential cascading liquidations as stop-losses and margin calls get triggered.
Leverage Risk: Traders likely used leverage, amplifying both gains and losses. In this case, the losses overwhelmed collateral.
