{"id":234752,"date":"2021-04-24T19:00:00","date_gmt":"2021-04-24T16:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-altcoin-era-dogecoin-liquidations-briefly-surpass-bitcoin\/"},"modified":"2021-04-24T19:00:00","modified_gmt":"2021-04-24T16:00:00","slug":"new-altcoin-era-dogecoin-liquidations-briefly-surpass-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-altcoin-era-dogecoin-liquidations-briefly-surpass-bitcoin\/","title":{"rendered":"# New altcoin era? Dogecoin liquidations briefly surpass Bitcoin"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3672499292c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3672499292c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/new-altcoin-era-dogecoin-liquidations-briefly-surpass-bitcoin\/#Large_liquidations_mean_DOGE_is_seeing_genuinely_high_demand\" >Large liquidations mean DOGE is seeing genuinely high demand<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/new-altcoin-era-dogecoin-liquidations-briefly-surpass-bitcoin\/#Will_DOGE_see_a_continued_uptrend\" >Will DOGE see a continued uptrend?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># New altcoin era? Dogecoin liquidations briefly surpass Bitcoin <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Dogecoin (DOGE) saw more liquidations than Bitcoin (BTC) at one point on April 24. This shows there is a significantly high demand for trading the meme cryptocurrency even as Bitcoin and Ether (ETH) struggle to recover.<\/p>\n<p>Various trends and metrics, such as <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> volume, trading volume, and liquidations in the futures market indicate that DOGE remains one of the most frequently traded cryptocurrencies in the global market.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/76a77d31-eee1-448e-ac76-8c52220f9ace.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>DOGE\/USDT 15-minute price chart (Binance). Source: Tradingview.com<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Large_liquidations_mean_DOGE_is_seeing_genuinely_high_demand\"><\/span>Large liquidations mean DOGE is seeing genuinely high demand<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Although some metrics, like the daily volume on small exchanges, is often exaggerated, futures market open interest and liquidations data is much harder to inflate.<\/p>\n<p>According to Bybt.com, in the last 12 hours, over $44 million worth of DOGE positions were liquidated.\u00a0<\/p>\n<p>In comparison, Bitcoin saw $117.4 worth of liquidations, suggesting that the trading interest around DOGE remains relatively high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/b5280ac2-47d1-4e5d-896c-eb9b1e55bbc8.jpeg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Cryptocurrency liquidations. Source: Bybt<\/em><\/figcaption><\/figure>\n<p>CoinMarketCap&#8217;s data also shows that DOGE&#8217;s daily trading volume across all exchanges is higher than most top cryptocurrencies<\/p>\n<p>In the last 24 hours, DOGE recorded $11.5 billion in daily trading volume. In the same period, Cardano (ADA), Binance Coin (BNB), and XRP\u00a0\u00a0saw lower trading volume than DOGE despite having larger market capitalizations.<\/p>\n<p>A large portion of the demand for DOGE could be coming from the influx of new entrants into the cryptocurrency market in the wake of the bull market.<\/p>\n<p>A pseudonymous trader known as NYUU said that most of this friends in the past week bought cryptocurrencies.<\/p>\n<p>Unsurprisingly, the cryptocurrencies that were purchased recently were XRP and DOGE. The trader <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/NyuuRoe\/status\/1385945803412447233?s=20\">said<\/a>:<\/p>\n<blockquote><p>&#8220;Turns out, every single friend of my bought #cryptocurrencies this or last week. Mainly $XRP and $DOGE very close to the high. Everyone I tried to convince to buy 1-2 years ago and gave up &#8211; is in now. Not sure how much fresh money is left to enter&#8230;&#8221;<\/p><\/blockquote>\n<p>In addition to the rising demand for DOGE from new investors entering the cryptocurrency space, data from TheTie shows that the social metrics for DOGE are growing.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/b3ddd42e-8b5d-4e00-95df-b7b9fe2f3abb.png\"><figcaption style=\"text-align: center;\"><em>30-day average sentiment vs. Long term sentiment (DOGE). Source:\u00a0 TheTie<\/em><\/figcaption><\/figure>\n<p>Social media volume often demonstrates authentic interest in a cryptocurrency on Twitter and other social media platforms across a prolonged period.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Will_DOGE_see_a_continued_uptrend\"><\/span>Will DOGE see a continued uptrend?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analysts say that the cryptocurrency market consolidating before a possible new leg up is healthy.\u00a0<\/p>\n<p>John Street Capital, an analyst who focuses on cryptocurrencies, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JohnStCapital\/status\/1385575807125426176\">said<\/a>:<\/p>\n<blockquote><p>&#8220;$BTC is still +75% YTD and given the froth in parts of the market with moves in $DOGE etc&#8230; consolidation is healthy before resuming the upward trend. It also lets new corporate \/ &#8216;real money&#8217;<\/p><\/blockquote>\n<p>If Bitcoin and Ether continue to consolidate comfortably above $50,000 and $2,200, respectively, it could create a more favorable environment for smaller altcoins, like DOGE, to rally.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/new-altcoin-era-dogecoin-liquidations-briefly-surpass-bitcoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# New altcoin era? Dogecoin liquidations briefly surpass Bitcoin &#8221; Dogecoin (DOGE) saw more liquidations than Bitcoin (BTC) at one point on April 24. This shows there is a significantly high demand for trading the meme cryptocurrency even as Bitcoin and Ether (ETH) struggle to recover. Various trends and metrics, such as social volume, trading&#8230;<\/p>\n","protected":false},"author":1,"featured_media":234753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvYzhmNjU1OWEtYTc4Ni00NTA4LWIwZDYtZWEzYTNiMGJhMWQzLmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,86883],"class_list":["post-234752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-dogecoin"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/234752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=234752"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/234752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/234753"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=234752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=234752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=234752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}