What to Know Dogecoin long traders absorbed $8.59 million in liquidations as falling prices produced an extraordinary 2,691.19% imbalance across leveraged market positions. DOGE slipped below
Dogecoin (DOGE) long traders suffered heavy losses as sustained market selling pushed the meme coin below an important technical level. According to CoinGlass, DOGE recorded a 2,691.19% liquidation imbalance, with long positions representing nearly all liquidations during the measured period.
Approximately $8.91 million in leveraged Dogecoin positions were liquidated, including $8.59 million in longs and only $319,190 in shorts. That imbalance shows how heavily traders positioned for gains before falling prices forced exchanges to close their leveraged bets.
Dogecoin traded near $0.083, representing a 7.30% decline over 24 hours as weakness spread across the cryptocurrency market. Previously, DOGE climbed toward $0.095 during the weekend, creating optimism that buyers could extend the upward movement.
However, selling erased those gains and pushed the cryptocurrency lower for four consecutive trading sessions. DOGE also fell beneath its daily 200-day moving average near $0.088, weakening the technical structure watched by traders.
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Dogecoin reached an intraday low of $0.083, which analysts identified as crucial support for maintaining the token’s bullish outlook. Losing that price level could expose the next demand zone around $0.080, where buyers may attempt another defense.
Meanwhile, macroeconomic uncertainty pressured cryptocurrencies as investors assessed inflation readings and possible Federal Reserve policy changes. The wider cryptocurrency market recorded approximately $569 million in liquidations as most leading digital assets posted considerable losses.
Additionally, the producer price index increased 0.4% during August, matching expectations while keeping inflation concerns within market calculations. Traders subsequently raised expectations for a quarter-percentage-point Federal Reserve interest rate increase during the approaching policy meeting.
CME Group’s FedWatch placed the probability near 66%, although pricing remained volatile as investors evaluated economic indicators. Elsewhere, Dogecoin expanded through Sunrise Protocol, which introduced the cryptocurrency to the Solana ecosystem this week.
The integration provides DOGE access through Solana-based platforms, including Raydium and Jupiter, strengthening its availability across decentralized markets. Nevertheless, that development could not offset pressure from leveraged liquidations, weakening technical conditions, and uncertainty surrounding monetary policy. Dogecoin’s direction now depends on buyers defending $0.083 and restoring its price above the closely watched 200-day moving average.
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The post Dogecoin Long Traders Suffer $8.59 Million Liquidation Blow as DOGE Loses Key Support appeared first on 36Crypto.
