Data shows that Dogecoin futures liquidations have been the highest in the sector during the past day as the coin has continued its upward push.
Dogecoin Liquidations Spike, Majority Are Short Contracts
The last few days have been great for DOGE holders as the memecoin has finally showed some promising potential toward the upside, after what had been a rather extended period of stagnation.
During this latest surge, some interesting positive signs have appeared for the asset, with perhaps the most significant of them being the cryptic hints related to possible Dogecoin integration on Twitter that Elon Musk has provided recently.
DOGE has enjoyed a sharp rise over the last few days | Source: DOGEUSD on TradingView
Dogecoin has been one of the best performers in the market recently, and the cryptocurrency’s momentum may not be fading just yet, as its trading volume has also registered a spike toward 16 week highs recently, implying that investors at large currently have an active interest in the memecoin.
DOGE has naturally continued to show volatility in the past day as well, as it’s currently up north of 2% in the period. Generally, with volatility comes chaos on the futures market, as high leveraged positions dip into losses so deep that their platforms are forced to close the contracts down, or to “liquidate” them.
The DOGE futures market has seen a beating today | Source: CoinGlass
The above data sh
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Author: Hououin Kyouma
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