Dogecoin Liquidations Reach $18.7 Million Amid Broader Crypto Sell-Off
Key Facts
Dogecoin fell to $0.07522, down 3.74% over 24 hours through about 10:26 UTC on October 30, alongside roughly $18.7 million in liquidations of its futures contracts, according to TokenPost. Open interest in the coin’s contracts stood at about $1.06 billion in the same reading. Dogecoin’s move came amid a broader sell-off in the cryptocurrency market following a security incident at Binance, according to CoinDesk. CoinDesk estimated Dogecoin position liquidations at about $18.6 million over 24 hours, close to the total liquidation figure reported by TokenPost. The two figures point to widespread liquidations in the coin’s contracts, while the price reading remained tied to a specific moment during the day.
On a daily closing basis, Dogecoin closed at $0.07977 on October 28, then at $0.07527 on October 29, before closing at $0.07539 on October 30, according to EL7 data. The $0.07522 price reported by TokenPost was a reading around 10:26 UTC, not the day’s closing price. The sequence shows a lower close between October 28 and 29, followed by a slightly higher close the next day. The 24-hour change therefore differs from a comparison of daily closes, as each uses a different timing and measurement window. Open interest in Dogecoin contracts was about $1.06 billion in TokenPost’s reading, a point-in-time figure rather than a daily close.
The liquidation wave spread across the broader market: CoinDesk, citing CoinGlass data, reported total cryptocurrency liquidations of $1.53 billion over 24 hours through Friday morning in Asia. Long positions, which bet on rising prices, accounted for 83.8% of the total. CoinDesk said cryptocurrency futures liquidations reached $1.57 billion, with trading volume up 74% to $346.1 billion and open interest down 3% to $136.3 billion. The total figures differ across the readings cited by CoinDesk, but they depict a broad liquidation wave accompanied by higher trading and a decline in open positions. CoinDesk said closing long positions typically generates sell orders, which can add pressure to prices during a downturn.
Among major cryptocurrencies, Bitcoin fell to $76,400, its lowest level since September 18, before recovering some losses, according to CoinDesk. Ether touched $2,170 before rebounding to about $2,220. CoinDesk estimated Dogecoin position liquidations at about $18.6 million, while Solana liquidations reached $82.6 million and XRP’s $38.1 million. The figures show that liquidations extended beyond Dogecoin to other major assets during the downturn. The sources did not say these moves establish a single cause for the coin’s decline.
CoinDesk linked the sell-off to a security incident at Binance and estimated affected assets at about $6.3 billion. Binance said it had frozen about $3 billion in on-chain assets and pledged to cover losses from its SAFU fund and company funds. The exchange had temporarily suspended deposits and withdrawals while conducting security checks and working with law enforcement, according to the Associated Press. In a later update, Binance said deposits had returned to normal while withdrawals remained suspended as security checks continued. CoinDesk said the incident surpassed the record $1.5 billion hack of Bybit in 2025.
In the economic backdrop, the U.S. personal consumption expenditures price index rose 0.5% in September from the previous month and 3.6% year over year, according to the Bureau of Economic Analysis. The core index, which excludes food and energy, rose 0.3% monthly and 3.1% annually. The Federal Reserve described economic activity as expanding at a solid pace and said uncertainty remained elevated in part because of geopolitical developments, while domestic spending remained resilient. Neither this data nor the Fed statement attributes Dogecoin’s move to a specific economic factor. Upcoming dates include the release of October personal income and spending data on November 25, followed by the Federal Open Market Committee meeting on December 8 and 9, 2026.