Liquidated assets in Dogecoin (DOGE), which showed an unexpected rise in the past days, exceeded $ 647 million.
The trading movements in Dogecoin over the weekend brought memecoin to a market cap of over $10 billion. Thus, the number of futures has increased in Dogecoin, which has become an interesting asset for crypto futures.
DOGE Moves With Elon Musk’s Twitter Acquisition
Dogecoin futures stemmed from the volatile price trend experienced with the confirmation of Elon Musk’s acquisition of Twitter. It has liquidated over $89 million since Friday. About $52 million of these figures came from short-term trades or trades against the token’s price increase.
Dogecoin liquidations were the highest of all cryptocurrencies with over $27 million in the last 24 hours. Futures, which usually see the biggest numbers, followed ETH and BTC, with relatively less losses of $14M and $12M respectively.
Open transactions in DogecoinLiquidations may have been a short squeeze as Dogecoin prices surged from around 7 cents on Friday to over 15 cents on Sunday morning. The price has dropped to 11 cents at the time of writing today.
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