PEPE Surpasses 247 Billion Liquidations in 24 Hours: Is a Rebound on the Horizon?
Release: 2024/08/27 16:05 Reading: 232
PEPE Surges Amid Crypto Liquidations
The cryptocurrency market has seen a surge in liquidations for PEPE, with the token outperforming major rivals like Shiba Inu (SHIB) and Dogecoin (DOGE). Despite a general market slowdown, PEPE's activity has drawn attention from traders and analysts.
Record Liquidations
In the past 24 hours, PEPE has witnessed significant liquidations totaling $2.33 million, involving over 247 billion tokens. This includes $1.32 million from long positions and $1.01 million from short positions. While large liquidations are typical in the volatile crypto market, PEPE's activity is noteworthy as it surpasses SHIB and DOGE, indicating growing interest.
Price and Volume
Despite heavy liquidations, PEPE's price remains stable at $0.000008587087, down 5.12% in the last 24 hours. However, trading volume has surged to $624.868M, making it the 11th most traded token in the market.
Growth and Potential
Over the past week, PEPE has experienced a 11% increase, contributing to its year-to-date performance of 560%. A recent listing has boosted whale activity by over 109%.
PEPE's growth dynamics create an intriguing scenario for investors. While the token is currently trading flat, it has risen over 11.25% in the past week. As market conditions remain uncertain, the focus is on whether PEPE can regain its four-week high. Traders betting on a rebound may find PEPE a promising opportunity, especially if it can eliminate one more zero from its price.
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