Dogecoin short sellers face a wave of sell-offs, with liquidation imbalance reaching 4,578%.

According to a report by Bijie Network: Dogecoin (DOGE) has experienced a significant price surge, triggering large-scale liquidations, with the gap between short and long positions reaching as high as 4,578% in the past four hours. As DOGE's price rose by more than 3%, climbing from $0.1214 to an intraday high of $0.1273, short sellers suffered losses of up to $261,980. Boosted by Bitcoin's rebound above $89,000, DOGE's trading volume also increased by 29.61%, reaching $1.24 billion. Analysts believe that if DOGE can hold the support level at $0.1243, it may signal a further price increase to $0.16.