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.
$7.32 million: what was force closed on the futures market
A liquidation is not a decision to sell. It is triggered as soon as the capital posted against a leveraged position no longer covers the paper loss. The exchange then closes the position itself, at whate...
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