Dogecoin Traders Lose Over $60 Million In 24 Hours Amid Largest Liquidation Event In 2025 So Far
Dogecoin traders experienced losses exceeding $65 million in 24 hours, marking the largest liquidation event of the year. Long positions accounted for $54.81 million of the losses, while short positions contributed $7.90 million. The DOGE price fell sharply from a high of $0.43 to a low of $0.35 after briefly reclaiming the $0.40 support level. The broader crypto market also faced significant liquidations, totaling over $1 billion, with long positions losing $903.59 million and short positions losing $260 million. This downturn was influenced by Bitcoin's drop from $106,000 to $100,000 and the launch of Melania Trump's meme coin, which drained liquidity from other cryptocurrencies. Currently, Dogecoin trades at approximately $0.36, down over 8% in the last 24 hours. Crypto analyst Kevin Capital suggested that the cycle is not over and highlighted Dogecoin's previous gains linked to political events.
