Due to its characteristics as a “meme coin” – with high volatility and influenced by sentiment & speculation – Doge DOGE1.98%-> is often a big target when fear hits the market.
Throughout the period from November 5 to December 10, the Dogecoin market showed relatively active dynamics, with the liquidation of Long positions being more dominant in nominal terms, but the liquidation of Short positions has also started to increase in recent days.
The chart shows that a huge spike in liquidations occurred on November 21-22, where the volume of Long liquidations jumped to close to $18 million. This reflects that many traders took long positions in expectation of a price increase, but failed to anticipate the sharp correction that ensued, resulting in their positions being exposed to mass liquidation.
Another notable moment occurred on December 1, where Long liquidation surged again, followed by an equally high volume of Shorts – indicating that the market was experiencing extreme two-way movements, and both sides were equally exposed to risk.
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