In recent months, multibillion-dollar liquidation events have become the new normal. These events demonstrate that traders continue to be caught off guard by market volatility. Several altcoins could cause similar surprises in the last week of November.
These are altcoins and why they can cause mass liquidations.
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1.XRP
XRP’s 7-day liquidation map shows notable risk levels. If XRP rises to $2.32 this week, approximately $300 million in short positions will be liquidated. If XRP falls to $1.82, approximately $237 million of long positions will be liquidated.
Short traders in the last week of November could face liquidation for several reasons. For example, Grayscale’s XRP ETF will debut on the New York Stock Exchange on November 24th. Additionally, the US-listed XRP ETF has recorded cumulative net inflows of over $422 million despite the overall market decline.
However, there are also reports indicating that the XRP whale has moved from accumulation to mass sales in recent days. This selling pressure could cause XRP to fall and cause long positions to be liquidated.
These conflicting forces can cause losses for both long and short traders, especially as the derivatives market shows signs of heating up again.
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2. Dogecoin (DOGE)
Similar to XRP, Grayscale’s DOGE ETF is also scheduled to launch on November 24th. This launch is expected to increase sentiment towards major meme coins.
ETF expert Nate Geraci believes the Grayscale Dogecoin ETF (GDOG) is an important milestone. He sees this as clear evidence of major regulatory changes over the past year.
“Greyscale Dogecoin ETF. The first ’33 Law Doge ETF. Some may laugh (and many). But this is a very symbolic launch. IMO, the best example of monumental crypto regulatory changes over the past year. By the way, GDOG may already be a top 10 ticker symbol for me,” Geraci said.
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If these positive factors push DOGE above $0.16 this week, total short interest could reach $159 million.
However, according to another report, the whale sold 7 billion DOGE in the past month. If this selling pressure continues, it could stall the recovery or even cause a decline.
If DOGE falls below $0.13, long-term liquidations could exceed $100 million.
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3. Tensor (TNSR)
Tensor (TNSR) has gained over 340% in the last week, attracting strong attention from traders. However, the price quickly corrected nearly 60% from its recent peak of $0.36.
Moonrock Capital founder Simon Dedic argued that the rally looked questionable. He suggested that price trends were showing signs of an “insider pump.”
Tensor and Coinbase have not responded to these accusations. Still other analysts point out that the top 10 wallets account for around 68% of the total supply. This concentration creates significant risk and increases volatility.
These factors are likely to influence the price of TNSR in the coming days. If the price rises to $0.19, short-term liquidations could reach nearly $6 million. If the price drops to $0.11, long-term liquidation could exceed $5 million.
