Crypto

Cryptocurrency Market Extends Gains as $1.24 Billion in Short Positions Liquidated

Guavy AI Editorial Team Published August 21, 2026

Instruments

BTC XRP DOGE BCH DOG ZEC

The cryptocurrency market is experiencing a rally that shows no signs of slowing down. Over the past 24 hours, $1.24 billion in short positions has been liquidated, with Dogecoin (DOGE) leading the charge.

Dogecoin rose 10.11 percent to $0.0842 over the past day and is up a staggering 21.33 percent for the week. Other cryptocurrencies such as XRP, Zcash, and Bitcoin Cash also saw significant gains, with XRP rising 24 percent and Zcash and Bitcoin Cash gaining 18 and 21 percent respectively.

Mishaboar, a prominent figure in the Dogecoin community, warned that caution is needed despite the market's momentum. He expressed skepticism about the rally being linked to a recent high-profile cryptocurrency conference, stating 'it was welcome to see the market move in a different direction, but extreme caution was needed.'

Cryptocurrency Market Extends Gains as $1.24 Billion in Short Positions Liquidated

Bitcoin Miners' $5B AI Bet Flops with Meager $341M Returns

Tether Abandons $120M Uruguay Mining Operation Amid Electricity Dispute

PowerCompute Revenue Up 9.8% YoY as Company Expands into AI Infrastructure