This indicates that a long position in Dogecoin $DOGE was liquidated due to a price drop. Here's the breakdown:
The long position in DOGE was worth $59.3K.
The liquidation price was $0.198.
This means that the trader was holding a leveraged position expecting the price of DOGE to rise.
However when the price of $DOGE fell to $0.198, the position was liquidated to prevent further losses.
The exchange automatically closed the position to cover the trader's margin requirements.
