Dogecoin (DOGE) Value Crashes 14% Amid Broader Market Pullback

TL;DR

• The cryptocurrency market tumbled prior to now 24 hours as Bitcoin’s value crashed by round $3K.
• Dogecoin dropped even additional, shedding some 14% in the identical interval, now buying and selling under $0.19.

The cryptocurrency market has taken a beating all through the previous 24 hours, with most altcoins dropping significantly.

As CryptoPotato reported, this resulted in a major liquidation flush as near $500 million positions had been wiped off. Most of them, fairly expectedly, had been lengthy positions.

Dogecoin additionally adopted the market however declined even additional. The world’s largest meme coin by way of complete market capitalization is at present down virtually 14% prior to now 24 hours, buying and selling under $0.19.

As a matter of reality, DOGE is among the main altcoins when it comes to complete liquidations. Information from CoinGlass reveals that there are over $16 million liquidated DOGE positions prior to now 24 hours, putting it fourth behind Bitcoin, Ethereum, and Solana.

Meme cash are usually extra risky in comparison with different cryptocurrencies, they usually carry greater dangers of liquidation for leveraged merchants due to their value swings. An instance of this from at this time, apart from DOGE, is Dogwifhat (WIF).

WIF dropped by greater than 17% since yesterday’s peak at round $4.60 and is at present buying and selling at round $3.80.