Dogecoin Longs Hit Hard as Liquidations Reach $7.82M
Dogecoin traders with bullish leveraged positions suffered most of the $7.82 million in liquidations, according to CoinGlass. Long positions accounted for $7.32 million, while short positions made up $503,630. The token fell 1.26% over 24 hours to $0.0873 and was down 7.26% for the week amid broader crypto selling.
CoinGlass recorded $7.82 million in DOGE liquidations, with $7.32 million tied to bullish bets and $503,630 to bearish ones—a roughly 1,453% gap. DOGE slipped 1.26% in a day to $0.0873 and 7.26% over a week, extending a four-day slide from an Oct. 4 peak of $0.097. Wednesday’s 5.41% drop preceded a Thursday low of $0.0855, beneath the 50-day ($0.0892) and 200-day ($0.087) averages.
Lookonchain tracked wallet 0xdd6a holding 20x shorts across BTC, ETH, SOL, XRP and DOGE worth $26.5 million, with $586,000 unrealized gain; its 48.37 million DOGE short, valued at $4.24 million, added about $224,000. Whale Alert also flagged 304,709,765 DOGE, valued at $27,045,644, sent from an unidentified wallet into Binance.
The liquidations may weigh on retail traders who use leverage, potentially eroding confidence and reducing speculative activity around meme tokens. Exchange users and DOGE holders could face sharper volatility if large transfers to Binance precede sales. Broader crypto sentiment may also cool, though the episode is unlikely to affect traditional finance directly unless it signals wider risk aversion.