DOGE Surges 14% as Shorts Get Squeezed

Dogecoin (DOGE) has surged about 14% in just 48 hours, reclaiming the $0.10 area as a wave of forced short liquidations amplifies the broader crypto rally.

The move extends the breakout Coinpaper highlighted when DOGE was still testing the $0.093, $0.095 resistance zone.

Shorts played a major role in Dogecoin's move, with leverage contributing to the rally. Across crypto, more than $1 billion in positions were liquidated over the past day, with roughly $844 million tied to bearish bets.

DOGE participated heavily in that squeeze as traders betting against the meme coin were forced to buy back positions into a rising market.