Pepe Coin Short Seller Loses Millions As PEPE Nears $1 Billion Cap

Pepe Coin News: Pepe Coin (PEPE), the new trending meme crypto in the market is moving ahead displacing other existing meme tokens. However, a recent bet raised by Pepe short sellers has turned out to be the biggest mistake for them as PEPE marches towards fresh gains.

Also Read: Coinbase May Not Relist XRP Due To This Reason

Pepe Coin Price Surge Leaves Short Callers Stunned

As per the data provided by Coinglass, More than 25K traders were liquidated in the last 24 hours. The total liquidations come in at $74.12 million. However, short traders have been hit million as Pepe price rose by around 70% in the 24 hours.

Data depicts that more than $10.22 million worth of 4.92 trillion Pepe Coin were liquidated in the last 24 hours. $7.38 million (72.17%) Out of $10.22 of Pepe liquidations turned out to be short positions. This directs that most of the traders were expecting a drop in price from here. While just 2.84 million Long positions got liquidated over the past 24 hours. Read More Pepe Coin News Here…

OKX crypto exchange turned out to be the biggest liquidator for the short callers. OKZ reported $7.42 million of total liquidation in the last 24 hours. However, $4.88 million worth of shorts were liquidated among all of them.

Also Read: Coinbase Will Not Support GALA V2 Airdrop: Details

As per Coingecko data, Pepe Coin price is up by 42% in the last 24 hours. PEPE is trading at an average price of $0.000002, at the press time. It’s 24 hour trading volume is up by 210% to stand at $796 million.

With a surge of around 4000% Pepe Coin has managed to displace several top meme cryptos from the chart and has grabbed the position of the 3rd most biggest meme coins on the tally. It holds a market value of around $891 million. A Billion dollar market cap is clearly in the picture with the current surge and several biggest crypto exchanges will to list the project ahead.