Date: Mon, Sept 02, 2024, 05:12 AM GMT
The crypto market is showing signs of a volatile September, with major cryptocurrencies, including Bitcoin (BTC), trading in the red. Over the past 24 hours, Bitcoin has dropped by 1.37%, pulling the total cryptocurrency market cap down by 1.53% to $2.02 trillion.
Among the impacted assets is the recently launched memecoin, DOGS, from the TON ecosystem. After displaying strong momentum at the $0.0012 level, DOGS has taken a sharp hit. Over the last 24 hours, the price of DOGS has plummeted by 14.21%, now trading at $0.001084.
This significant drop has triggered massive liquidations across the market. According to data from Coinglass, the total liquidations in the past 24 hours have surged to $2.45 million. Of this amount, $1.84 million came from long orders, while $602,000 were liquidated in short positions.
The steep decline in DOGS’ price is a stark reminder of the unpredictable nature of the crypto market, particularly for newer and highly speculative assets.