Pepe Coin Shorters Losses Hit Millions Amid Fresh PEPE Rally

Pepe Coin News: The new sensation in the meme coin category, Pepe Coin Price registered a massive recovery rally on Saturday over a Elon Musk Tweet. However, PEPE price saw a major downturn over the past 7 days, declining by 38%. Meanwhile, traders who were betting against the new trending meme coin recorded massive losses amid the recent surge.

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Pepe Coin Price Shoots 50%

As per the data provided by Coinglass, the total liquidation comes in at $85 million over the past 24 hours. The single largest liquidation order recorded came from Bitmex of XBTUSD valued at $2.64 million. However, $46.81 million of the short positions (54%) got liquidated. This suggests that traders were expecting the crypto market to drop.

Data depicts that almost $10 million of the liquidation came out from Pepe Coin in the last 24 hours. It is important to note that $6.8 million of the short positions (68.61%) got liquidated amid the recent surge. This shows that traders were looking for more Pepe price decline. Read More Crypto News Here…

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Pepe Coin surprised the other top meme cryptos by surging more than 3500% in the last 30 days. However, its price is up by over 50% in the past 24 hours. Its 24 hour trading volume surged by 34% to stand at $1.5 billion. PEPE is trading at an average price of $0.0000019, at the press time.

However, Elon’s favorite meme coin, Dogecoin (DOGE) price is on a constant decline. DOGE price is down by 16% in the last 30 days. Dogecoin is trading at an average price of $0.07, at the press time.