The truth behind this round of shakeouts in ETH/HYPE/DOGE 🔥
This round of concentrated liquidations had one clear objective: to flush out leveraged positions chasing the rally at elevated prices.
Judging by the liquidation data for these three coins, this wasn’t an indiscriminate shakeout wiping out both longs and shorts—it was a targeted purge of long positions.
$ETH saw 350 million in liquidations over the course of the day, most of them longs caught at high prices. As soon as the market showed signs of recovery, FOMO buyers rushed in in droves. Repeated sharp wicks and volatility then steadily shook out holders at higher levels who lacked conviction.
$HYPE showed the clearest pattern: longs were almost exclusively harvested, with liquidation figures approaching a total wipeout. Leverage tends to be most crowded in popular coins when sentiment is at its peak. The major players didn’t need to drive prices down hard; they simply used repeated wicks to gradually erode the confidence of traders chasing the rally.
The same goes for $DOGE . MEME coin rebounds can easily attract short-term leveraged traders looking to follow the trend. The market then takes advantage of the move to selectively clear out positions accumulated at higher levels, cooling overheated sentiment.


Overall, this market move was essentially about flushing out leveraged traders chasing highs and consolidating holdings to pave the way for what comes next.
Short positions were largely unscathed. This wasn’t a two-sided wipeout—it was purely a shakeout of longs. #STRK24小时上涨约20% #Tether冻结Ledger盗窃案相关uSDT #CFTC拟将事件合约纳入掉期监管