Dogecoin Surges as Traders Liquidate 71 Billion DOGE Amid Crypto Market Recovery

Dogecoin (DOGE) is making headlines after a massive 24-hour liquidation event coincided with a broader crypto market recovery. Triggered by the U.S. decision to pause trade tariffs, the overall market experienced liquidations totaling $468.45 million across 131,342 traders, according to CoinGlass data. Among these, Dogecoin accounted for $11.26 million in liquidations, with a staggering 71.19 billion DOGE lost.

Short sellers bore the brunt of the losses, with $6.81 million wiped out compared to $4.45 million from long positions. Despite these liquidations, DOGE has shown surprising resilience. The meme coin climbed 2.58% over the last 24 hours, currently trading at $0.1576—defying expectations of continued bearish momentum.

Dogecoin’s market capitalization also saw a notable increase, rising from $22.47 billion to $23.46 billion in just a day. Analysts suggest that this rebound could be sustainable, citing growing investor confidence and ecosystem developments that point to mainstream adoption in Europe.

In a bullish signal for institutional interest, 21Shares has announced plans to list a Dogecoin exchange-traded product (ETP) on the SIX Swiss Exchange in Zurich. This move may bolster DOGE’s legitimacy among European investors and expand its utility beyond retail speculation.

As the crypto market stabilizes, Dogecoin’s ability to rebound amid significant liquidations positions it as a standout performer. Traders and investors alike will be watching closely to see if this momentum continues or if another wave of volatility is on the horizon.

With market sentiment shifting and institutional adoption growing, Dogecoin could be entering a new phase in its evolution from meme coin to mainstream asset.