TL;DR:
- A concentrated wave of “bear” liquidations wiped out $1.57 million in bearish positions within just one hour.
- The price of DOGE broke through the psychological barrier of $0.10, recording one of its strongest sessions of the month.
- Despite the rally, technical indicators suggest the move is more of a “short squeeze” than a confirmed trend reversal.
The last 24 hours have seen extreme volatility in the cryptocurrency market. Data from CoinGlass reveals that on February 25, Dogecoin posted double-digit daily gains following a massive Dogecoin short liquidation that caught bearish traders off guard.
This phenomenon occurred simultaneously with an intraday rebound that pushed the popular meme coin’s price above $0.10. In just one hour, supply exhaustion and the forced closure of futures contracts fueled the memecoin’s vertical ascent.
Massive Short Squeeze Shakes the DOGE Market
On Binance, the DOGE/USDT chart analysis shows that the asset reached a daily high of $0.1026. This action represents an increase of over 10% in a single day, breaking a period of stagnation where the price had been oscillating sideways between $0.095 and $0.098.
The liquidation statistics are staggering: while long positions suffered minimal losses of $119,640, “shorts” faced a total wipeout of $4.09 million over the last day. This disparity confirms that the momentum was primarily fueled by forced seller coverage.
Regarding market structure, analysts remain cautious as DOGE is still trading below key descending resistance levels on the daily timeframe. However, the return to the $0.10 level has injected renewed optimism among retail investors.
In summary, this episode underscores the risks of excessive leverage in high-volatility assets. In a context where more than $341 million was liquidated across the entire crypto market, Dogecoin proved that a lack of liquidity and over-leverage can turn any spark into a financial wildfire.
