Dogecoin Sees Massive Liquidations, Outpacing Bitcoin in Sudden Market Shakeout

Dogecoin has recorded a sharp spike in liquidations, surpassing Bitcoin over the past 60 minutes as market volatility intensified.

Data shows DOGE liquidations surged by more than 23,000% within the hour, eclipsing Bitcoin’s liquidation activity during the same period and highlighting the meme coin’s heightened sensitivity to sudden shifts in market sentiment.

The surge came amid a broader crypto market pullback, triggered after Bitcoin failed to break above the $94,000 resistance level. As market confidence weakened, altcoins bore the brunt of the downside move, with Dogecoin experiencing one of the most aggressive liquidation events.

Dogecoin Bulls Lose Over $2 Million as Price Slides

According to CoinGlass data, Dogecoin bulls absorbed the overwhelming majority of losses, accounting for $2.05 million out of the total $2.06 million liquidated. The sharp sell-off followed a rapid price drop as traders moved to lock in profits, accelerating downside pressure.

Dogecoin fell from a local peak near $0.1485 to around $0.1398 at the time of writing, marking a 5.42% decline over the past 24 hours. The pullback erased earlier weekly gains of 15.67%, with DOGE previously struggling to clear resistance near $0.16.

Trading activity reflected the shift in sentiment, as volume dropped by 25.43% to $1.66 billion. The decline in volume alongside falling prices suggested growing bearishness among traders and reduced appetite for risk across the meme coin segment.

Shorts Largely Unscathed as Support Comes Into Focus

While long positions were heavily impacted, short traders recorded relatively minor losses of $8,740 when Dogecoin briefly dipped to $0.1393. Market participants are now watching the $0.135 support level closely, as holding this zone could determine whether DOGE stabilizes or faces further downside.

Analysts note that Dogecoin’s near-term recovery may depend heavily on Bitcoin’s next move. Any additional weakness in the broader market could delay a rebound for DOGE, while a stabilization in BTC could help restore confidence.

Golden Cross Optimism Fades Amid Declining Momentum

Dogecoin entered 2026 with optimism after forming a golden cross and posting a surge in trading volume, fueling expectations of a move toward $0.20. However, the recent liquidation event and declining volume have effectively neutralized those bullish signals.

Although previous rebounds, including a recent 118% volume surge that lifted DOGE by 8%, demonstrated the coin’s ability to recover quickly, the current market environment remains fragile. With the broader crypto market under pressure, traders suggest a strong external catalyst may be required to revive momentum.

As the next 24 to 48 hours unfold, market participants are closely monitoring Bitcoin’s price action and upcoming U.S. policy signals, both of which could play a decisive role in shaping Dogecoin’s short-term trajectory.