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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.