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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
09/23/2026

Dogecoin Surges 15% on $844M Short Squeeze; BTC Holds Above $85K

What happened: Dogecoin (DOGE) jumped over 15% to just above $0.

Dogecoin Surges 15% on $844M Short Squeeze; BTC Holds Above $85K

What happened: Dogecoin (DOGE) jumped over 15% to just above $0.10 during the Asian session, leading a broad crypto market rebound. Bitcoin remained steady at around $85,600, up roughly 5% over 24 hours. More than $1 billion in leveraged positions were liquidated in the past day, with short sellers accounting for $844 million (82%) and about 135,000 traders affected. Other notable movers included XRP (+7%), SOL (+5%), and ETH (+3%), while ZEC was the only major token in the red (-4%).

Why it matters: The rally was driven by a mechanical short squeeze rather than new fundamental demand, raising questions about the sustainability of the move. The scale of liquidations underscores ongoing volatility and leverage in crypto markets. Analysts warn that further upside will require fresh buyers, not just forced covering by shorts.

Source: CoinDesk