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Dogecoin (DOGE) has posted more liquidation than Bitcoin (BTC) in the last 60 minutes, as it spiked by 23,354% within this time frame. The meme coin’s liquidation imbalance dwarfs that of Bitcoin within the same period on the cryptocurrency market.
CoinGlass data reveals that Dogecoin bulls were wiped out of $2.05 million out of the total loss of $2,058,740. The liquidation occurred as DOGE nose-dived after the broader crypto market fell by 2.67% following Bitcoin’s inability to flip the $94,000 resistance level.
Bitcoin’s price stall negatively impacted altcoins, and this triggered massive liquidation for Dogecoin. As the price dropped, Dogecoin traders went for profit, further increasing the sell-off and liquidation pattern.
Dogecoin quickly dropped from a peak of $0.1485 to its current level. As of this writing, Dogecoin is changing hands at $0.1398, which represents a 5.42% decrease in the last 24 hours. The development has affected traders’ sentiments.
Currently, trading volume has dropped by 25.43% to $1.66 billion as bearish sentiments grow in the ecosystem. The memecoin’s price has reversed previous weekly gains of 15.67%. Prior to the sharp decline, Dogecoin was selling near the $0.16 resistance.
Meanwhile, short traders suffered a mild loss of $8,740 when DOGE slipped briefly to $0.1393. Dogecoin’s recovery might depend on Bitcoin’s next move and the memecoin’s ability to hold the $0.135 support. Any further slips might delay the leading memecoin’s rebound move in the market.
Notably, Dogecoin kicked off 2026 with a golden cross setup and spike in volume. The bullish signal had raised hopes of DOGE’s move to $0.2. However, those gains have been eliminated by the current liquidation development and declining volume.
It is likely that for Dogecoin to shake off the current bearish outlook, traders need to revive their buying interest. As reported by U.Today, a recent 118% volume surge pushed DOGE up by 8% as the market rebounded.
However, with the broader crypto market down, it might take a huge catalyst to activate the memecoin. The next 24 to 48 hours will determine the crypto market’s performance as investors await the U.S. policy direction.
