A significant liquidation event has occurred in the cryptocurrency market, with whale 0x10ea experiencing a full liquidation of their 113 million DOGE position, valued at approximately $14.56 million. This resulted in a realized loss of nearly $2.7 million following a sharp market downturn. The position was a long bet on Dogecoin, expecting its price to rise, but the sudden market crash breached margin thresholds, triggering an automatic sell-off. This incident is part of a broader market correction that has seen substantial losses across major exchanges, particularly affecting meme coins like DOGE and PEPE. The volatility in these assets is notably higher compared to more stable cryptocurrencies like Bitcoin and Ethereum. The liquidation of whale 0x10ea's position underscores the high risks associated with leveraged trading, especially during volatile market conditions.
DOGE Whale Faces $2.7M Loss in Major Liquidation Amid Market Crash
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