DOGE surges more than 15% as crypto liquidations top $1 billion

  • DOGE rose more than 15% to just above 10 cents in Asian morning trading.
  • CoinGlass recorded over $1 billion in crypto liquidations, with short sellers accounting for 82%.
  • Bitcoin led liquidations at $608 million, while ether accounted for $181 million.

DOGE rose more than 15% to just above 10 cents during Tuesday’s Asian morning hours, the strongest performance among major tokens, according to CoinDesk data. Bitcoin held above $85,600, flat over the previous hour but up roughly 5% over 24 hours, with much of the advance driven by traders being forced out of bearish positions. More than $1 billion in crypto positions were liquidated over the past day, CoinGlass said, including $844 million, or 82%, from short sellers. About 135,000 traders were closed out. Bitcoin accounted for roughly $608 million of liquidations and ether for $181 million, while the largest single closure was a nearly $21 million bitcoin position on Hyperliquid. XRP gained 7% to nearly $1.52, SOL rose 5% to just under $117, and ether climbed 3% to nearly $2,740. BNB and TRX advanced between 1% and 2%, while ZEC fell 4% to just above $1,450. Hourly liquidations had dropped below $11 million from more than $300 million at Monday’s peak, leaving further gains dependent on fresh buying rather than forced short covering. Asian equities also strengthened, led by semiconductor stocks and renewed enthusiasm over artificial intelligence. Meta Platforms’ Muse AI agent has become the top free app on Apple’s U.S. App Store after nearly two weeks, with almost 3 million global installs and nearly 40% more iOS downloads in the U.S. and Canada than ChatGPT recorded during its first 12 mobile days, according to Apptopia.

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