Cryptocurrency assets are continuing to rebound following the pause on trade tariffs that has sparked massive liquidations. In the past 24 hours, the combined crypto market liquidation hit $468.45 million from 131,342 traders.

Dogecoin (DOGE) liquidations hit over $11.26 million

Among these liquidations, Dogecoin (DOGE) accounted for $11.26 million of these total liquidations.

According to CoinGlass data, a total of 71,190,773 million DOGE were lost by investors of the dog-themed meme coin. This amounted to over $11 million in fiat terms recorded among traders in the ecosystem.

Notably, there was a liquidation imbalance, with short traders exceeding long traders by over $2 million. Traders who bet short on the price of DOGE lost a total of $6.81 million, compared with long position traders, who registered $4.45 million losses.

This development came from the rebound witnessed in DOGE’s price action on the crypto market.

At press time, DOGE recorded a 6.6% rally in price to change hands at $0.1560. This upsurge in price caught most traders by surprise, as they had bet on the broader financial market to continue their bearish impact on the asset.

The 7.61% decline in trading volume to $1.81 billion indicates the sentiment of market participants toward DOGE.

DOGE holds its ground against Tron threat

The bullish rally that has triggered a rebound for DOGE could help it shake off concerns about Tron flipping it in market cap ranking. The capital influx to Tron recently boosted its market valuation to a point that fueled speculation of a possible flip.

At the time, DOGE’s market cap dropped to $22.47 billion, but it has since increased by over 7% and stands at $23.34 billion.

This recovery looks sustainable as ecosystem development signals the adoption of DOGE in Europe. As reported by U.Today, 21Shares plans to list the Dogecoin exchange-traded product (ETP) on the Zurich-based SIX Swiss exchange.