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The liquidation of PEPE has made the frontlines amid a general slowdown in this metric from the market. While Ethereum (ETH) has surpassed Bitcoin (BTC) in 24-hour market liquidation, PEPE has also outranked the likes of dogwifhat (WIF), Shiba Inu (SHIB) and Dogecoin (DOGE) per data from CoinGlass.
247 billion PEPE liquidation
The on-chain data shows that PEPE has recorded a $2.33 million liquidation in the past 24 hours. This figure shows that long traders have recorded $1.32 million in liquidation, with short traders suffering $1.01 million.
In actual PEPE terms, this liquidation amounts to more than 247 billion. While this is historically not unusual, the fact that PEPE suffered more liquidations than SHIB and DOGE proves that more traders are paying attention to the coin overall.
Per price action, PEPE was changing hands for $0.000009137, up by 0.14% in 24 hours. The token’s trading volume has slumped by more than 36% to $606,933,995. Over the past week, PEPE has stood out in many ways. The token bagged a listing recently, a move that sent its whale activities up by more than 109%.
As a major competitor to SHIB and DOGE, PEPE is known to record a high level of transactions, and it now ranks as the 15th most traded token on the market today.
When rebound for PEPE?
The PEPE growth dynamics are intriguing. While the token is trading relatively flat at the moment, it has been up by more than 26.36% in the past week but down by 23.33% over the past month.
Beyond the intensive whale embrace, market expectations now hinge on whether PEPE can return to its four-week high amid the growing uncertainty. PEPE is in the spotlight, carving out a major opportunity for traders looking to go long on the meme coin. In the short term, the expectation is clearing one zero.