Pepe Coin Shorters Loses $17 Mln As PEPE Surges By 100%
Pepe Coin News: Leading the meme coins to rally, Pepe (PEPE) has emerged as the biggest gainer of this week. As per the data, Pepe Coin price is already up by more than 756% in the last 7 days. This surge comes after all major exchanges announced the listing of the trending meme coin. However, traders going short against the PEPE had paid a heavy price amid the recent surge.
Also Read: Pepe Price Shoots 106% As KuCoin, Crypto.Com Announce Listing
PEPE Shorters Are In Deep Pain
According to the data provided by Coinglass, more than 56K traders were liquidated in the last 24 hours. While the total liquidations were calculated to stand around $179 million. However, around $30 million of funds got liquidated from Pepe traders amid its recent 100% price surge. While contract named 1000PEPE also reported $13.37 million liquidation in the same period of time.
Data depicts that most of the positions taken by traders were short against the trending meme coin. Out of a total of $30 million, $17.35 million of liquidation (57.6%) turned out to be short. Traders were betting Pepe price to drop after a massive surge. However, with all the recent announcements done by top exchanges, PEPE price jumped by over 100%.
Also Read: Binance Alleged Of Evading Russian Sanctions; CZ Yet To Reply
Pepe price is up by 5000% in the last 30 days which has helped it to barge into the top 3 meme crypto tally. It now stands just after Dogecoin (DOGE) and Shiba Inu (SHIB).
Pepe Coin price is up by a whopping 46% in the last 24 hour. It is trading at an average price of $0.000003, at the press time. Its 24 hour trading volume is up by 274% to stand around $3 billion.
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms
- Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
