Solana (SOL), Dogecoin (DOGE) In Spotlight As Crypto Liquidations Spike

While crypto market liquidations topped $568 million over yesterday, Solana (SOL) and Dogecoin (DOGE) were among the leading cryptocurrencies in the spotlight.

US President Donald Trump’s ‘Liberation Day’ tariffs fueled the ongoing crypto market liquidations.

The market liquidation now raises questions about the impact on the prices of top altcoins like Solana crypto and DOGE.

Current Crypto Liquidation Outlook

The crypto market entered turbulent waters as mounting liquidations signaled a looming bloodbath.

According to data provided by CoinGlass, the crypto market saw massive liquidations, reaching $568 million yesterday.

The broader crypto ecosystem felt the pressure, with Bitcoin (BTC), Ethereum (ETH), SOL, XRP, and DOGE facing heavy losses.

The liquidation heatmap showed Bitcoin leading the charge in losses, followed closely by Ethereum. Bitcoin saw losses of $105.04 million, while $91.94 million flowed from ETH.

According to Coinglass data, more than 193,000 traders were liquidated in just a single day yesterday.

The liquidations were concentrated on the Bybit, Binance, and OKX exchanges, indicating a marketwide sweep of leveraged positions.

Notably, the majority of positions were long, suggesting that many traders were not caught unawares by the sudden intraday spikes.

The largest liquidation took place on Bybit with $186.39 million. While crypto liquidations are common in the market, this has been one of the biggest since the start of this year.

Earlier today, Bitcoin plunged to yet another multi-month low of $81,899. The flagship coin is officially in the bear market territory after dropping over 20% from its current all-time high of nearly $109,000.

Bitcoin achieved this feat in January following President Donald Trump’s election victory.

Solana Crypto and DOGE Short-Long Liquidations

While Bitcoin and Ethereum lead the latest market sell-off, SOL and DOGE are seeing the highest liquidations in the altcoin market.

Solana also saw a massive liquidation of $34.13 million. Long traders lost $29.48 million, and short traders lost $4.66 million.

Likewise, liquidation for DOGE in 24 hours reached $11.14 million. As expected, long traders saw $10.17 million in liquidations, while short traders saw less than a million in liquidations.

As of this writing, Solana price was trading at $118.98, up 4.09% over the past 24 hours. DOGE was up by 6.01% to $0.1682 within the same time frame.

What Next For Solana and Dogecoin After Altcoin Shift?

Both Dogecoin and Solana are set for potential rallies as investors shift their focus to the altcoin market.

Solana is displaying unexpectedly strong internal indicators despite the decline on the daily chart.

The daily trading volume surged over 99% to $6.55 billion over the previous day. This surge indicates that bears are losing ground and that bulls will soon regain control.

In the short term, it is crucial for SOL to hold the $120 to $125 range. A break below it might trigger a retest of the lower $110 range.

On the other hand, DOGE is exhibiting signs of indecision as it lingers in the middle of the price range.

The next local floor is $0.145; a notable move below this level would see DOGE decline further.

On the upside, DOGE has overcome formidable opposition at $0.207, a level it found difficult to surpass in its most recent rally attempt in March.

The post Solana (SOL), Dogecoin (DOGE) In Spotlight As Crypto Liquidations Spike appeared first on The Coin Republic.