Recent market activity in cryptocurrencies, particularly Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE), has led to significant short liquidations totaling approximately $800 million. This figure marks the highest level of short liquidations since early 2023. The volatility in these assets has drawn attention, with traders facing unexpected margin calls as prices surged. Analysts attribute this sudden spike in prices to a mixture of positive market sentiment and strategic trading moves that caught short sellers off guard.

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