Dogecoin

<a href="https://en.coin-turk.com/billionaire-chamath-palihapitiyas-forewarning-economic-ripples-and-cryptocurrency-impact-in-january-2024/" data-wpel-link="internal">Crypto</a> derivatives have seen a significant increase in volume, which could lead to potential imbalances that may trigger liquidation events. This situation has caused an increase in short positions for certain cryptocurrencies. If these positions are liquidated, the likelihood of a short squeeze increases, which means a price rally. So, for which altcoins is this increase valid? 
<h2 style="text-align: justify" id="market-overview-and-short-squeeze-potential">Market Overview and Short Squeeze Potential</h2> 
While the total value of the crypto market has increased by 1.5% to reach $1.614 trillion, its highest level in 10 days, attention is now focused on cryptocurrencies with high short positions, especially if the market value exceeds this month’s highest levels. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-292171 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/toplam-cointurk.jpg" alt="" width="1536" height="992"> 
Among the cryptocurrencies with increased short positions, the cryptocurrency Dogecoin (<a href="https://en.coin-turk.com/x-twitter-ceo-reveals-future-plans-for-the-app-and-dogecoin-integration/" data-wpel-link="internal">DOGE</a>) stands out. Currently trading at $0.0926, DOGE has an open short position amount of $514.56 million, which corresponds to 51.31% of the daily open position volume. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone wp-image-292172 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/doge-short-cointurk.jpg" alt="" width="1536" height="139"> 
This significant dollar value is close to the 24-hour spot exchange volume of $550.27 million and makes the liquidation of short positions impactful on the price of the meme coin DOGE. 
<h2 style="text-align: justify" id="short-squeeze-warning-for-dydx-dydx">Short Squeeze Warning for dYdX (DYDX)</h2> 
Simultaneously, the cryptocurrency dYdX (DYDX) witnessed a $188.57 million short position opened on December 21st. The cryptocurrency is trading at $2.957. Despite the 24-hour volume of only $132.69 million, which indicates a larger short position than current market activity, DYDX requires a market turnaround from a downturn to an upturn for a short squeeze to occur. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone wp-image-292173 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/dydx-cointurk-1.jpg" alt="" width="1536" height="139"> 
Recent significant changes such as token migration and the unlocking of over 80% of the circulating supply have added complexity to DYDX’s market dynamics. While the potential for a short squeeze is becoming apparent, it is important to note that a market turnaround is very significant for these events to occur. 
Factors such as recent token migrations and unlocking of supply locks can influence investors’ perception of the value of a digital asset. Investors are advised to conduct thorough research and consider complementary data to make informed and profitable <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> decisions. Continue Reading: <a href="https://en.coin-turk.com/significant-increase-in-crypto-derivatives-volume-leads-to-potential-short-squeeze/" data-wpel-link="internal">https://en.coin-turk.com/significant-increase-in-crypto-derivatives-volume-leads-to-potential-short-squeeze/</a>

Significant Increase in Crypto Derivatives Volume Leads to Potential Short Squeeze

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