Dogecoin: 94 Percent of Liquidations Hit Long Positions, and How the Leverage Compares With Bitcoin

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.On the Dogecoin futures market $7.82 million was force closed within 24 hours, almost all of it on the long side. Our count of 106 contracts shows how much leverage really sits in the market and how much of it is open to retail investors in Europe.Positions worth $7.82 million were force closed on the futures market for Dogecoin within 24 hours. Of that, $7.32 million hit long positions, meaning bets on rising prices, and $503,630 hit short positions. Just under 94 percent of the losses therefore sat on one side. The data service CoinGlass puts the imbalance between the two sides at 1,453 percent, U.Today reports. The interesting part is less the sum than the question behind it: how much leverage sits in Dogecoin at all, and how much of it may a retail investor in Europe use? On Friday afternoon we counted every open perpetual futures contract on DOGE and set the result next to Bitcoin, Ethereum, Solana and XRP. The answer differs from what the meme coin's reputation suggests. $...