Crypto Markets Rebound as Dogecoin Surges 15%

Dogecoin led the crypto market rebound on Tuesday, rising by over 15% to just above $0.10 as of Asian morning hours, according to CoinDesk data.

This growth was the largest among major tokens, outpacing other notable assets such as Bitcoin, which remained steady above $85,600 after adding around 5% in value over the past 24 hours.

The surge can be attributed to a significant number of short sellers being forced out of their positions, with CoinGlass reporting that over $1 billion worth of crypto positions were liquidated in the past day, with 82% of those belonging to short sellers.