The price of the popular meme coin PEPE was in a recovery phase on Sunday of this week, but these bullish moves turned bearish a few hours later.
While investors in the cryptocurrency suffered significant losses, but this did not prevent those with large portfolios from continuing to buy.
Pepe's price saw a slight rise of 9% during Sunday's trading, before losing 11% of its value over the past 24 hours, surprising the market. Sunday's highs caused short and large liquidations over the past few hours.
According to Coinglass data, Pepe recorded a short liquidation of $17 million in one day, the largest liquidation in the coin's history, indicating that bears were anticipating a further decline in Pepe's price over the weekend.
However, for other investors, including whales, this was positive news. As the headlines containing the largest quantities of Pepe continued their purchases.
