247 Billion PEPE in 24 Hours, When Rebound?

PEPE Liquidation Surges Amidst Market Slowdown

The liquidation of PEPE has become a notable event amidst a broader market slowdown. According to CoinGlass data, PEPE has surpassed Bitcoin (BTC) and Ethereum (ETH) in 24-hour market liquidation, also outpacing dogwifhat (WIF), Shiba Inu (SHIB), and Dogecoin (DOGE).

Massive PEPE Liquidation

On-chain data indicates that PEPE has witnessed a $2.33 million liquidation in the past 24 hours, with long traders accounting for $1.32 million and short traders suffering $1.01 million. In terms of PEPE volume, this translates to a staggering 247 billion.

While not unprecedented in history, the fact that PEPE's liquidation exceeds that of SHIB and DOGE suggests heightened market interest in the coin. At the time of writing, PEPE is trading at $0.000009137, up 0.14% over 24 hours. Its trading volume has decreased by over 36% to $606,933,995.

PEPE's Recent Momentum

PEPE has made significant gains in recent days. It recently secured a listing, which led to a 109% surge in whale activity. As a key competitor to SHIB and DOGE, PEPE boasts high transaction volume and now ranks as the 15th most traded token.

Future Prospects for PEPE

PEPE's growth trajectory is intriguing. Despite its recent stability, it has climbed over 26.36% in the past week. However, it has also declined 23.33% in the past month.

Amidst heightened market uncertainty, investors speculate on whether PEPE can regain its four-week high. With its growing popularity and whale support, PEPE presents a potential opportunity for traders seeking a long position on this meme coin. In the near future, traders anticipate the coin will eliminate one zero from its price.