$33 Million In Dogecoin Shorts Liquidated As Price Shoots

[CryptoQED]

Dogecoin witnessed a significant growth trend in 2021. This remarkable feat connects to the influence of Tesla’s CEO and billionaire, Elon Musk. The billionaire has remained a prominent proponent for Dogecoin, and his position could either increase or decrease its price movement.

Most crypto assets took to the south during the recent bearish trend in the crypto market. This brought considerable losses in value for most of them. In addition, Dogecoin, the largest and leading meme cryptocurrency, also recorded a downward movement.

But the recent positive progress in the crypto market is pushing the assets north. For Dogecoin, the asset has finally broken its strong resistance at $0.135 as the price jumped by more than 110%. The new price surge from DOGE is linked to Elon Musk Twitter deal of almost $44 billion.

Dogecoin Records Largest Liquidated Positions In Short Calls

Source Link: https://cryptonews.com.co/altcoin-news/altcoin-news-33-million-in-dogecoin-shorts-liquidated-as-price-shoots/

[yazher]

This is expected because holders wanted to get a share of their holdings as well and with the current trend is going on with the Doge, it's the best timing to sell right now and give others a chance to hold Doge as well. For the believers of Doge I think they will keep holding on until the price spike further more because of Elon Musk ownership of Twitter.