Short traders for one of the market’s top meme coins have been stunned by the recent liquidation imbalance in the past day. Notably, Pepe coin, born on the Ethereum blockchain, has recorded a difference in short trade positions. According to CoinGlass data, short-position traders experienced more significant liquidation than long-position investors.
Moreover, the world’s richest man, Elon Musk, also sparked speculation after changing his name from X to Kekius Maximus, which has seen the Pepe coin price skyrocket. On the other hand, Remittix (RTX) continues to record impressive gains, with the RTX price surging to $0.0177, driven by its unique PayFi capabilities.
Pepe Stun Short Traders With Liquidation Imbalance Amid Musk’s Push
The recent imbalance in Pepe coin short- and long-term traders could have been triggered by Pepe’s price fluctuation within the broader market. The market dynamics saw the price of Pepe coin dip to a low of $0.00002009 in earlier trading. This dip, plus a significant decline in trading volume, could have prompted the increased liquidation of short-position traders.
Moreover, much of Pepe’s recent rally has been attributed to the Elon Musk effect after he changed his display name on X to Kekuis Maximums and used a Pepe the Frog meme as his avatar. Musk’s support has always led to a bullish outlook for Dogecoin, and Pepe capitalized on such an opportunity.
The move seems to have sent ripples through the crypto market, sending the value of the PEPE token into a surging spree. Musk has influenced crypto price movements with his social media commentary. The price of Pepe continues to hover above the $0.000021 region, with a YTD of over 1,690%.
Remittix Set to Provide a Unique Crypto-Fiat Integration
Remmitix (RTX) has been gaining ground quickly within the ever-growing crypto market owing to its unique PayFi solution. Remittix merges conventional banking and blockchain, aiming to redefine cross-border payments with inexpensive, fast, and transparent crypto-to-fiat transactions. This has seen the Remittix presale gain momentum, surpassing significant milestones, including a presale funding of over $1.3M.
Its PayFi solution will allow users to convert over 40 cryptos into fiat currencies and transfer the funds across any global bank account. The project’s efficiency and simplicity have quickly positioned Remittix as a top choice among businesses and individuals seeking cost-effective and practical tools. Moreover, Remittix’s advanced smart contract passed a rigorous audit by SolidProof, proving its commitment to safeguarding transactions.
Remittix’s native token RTX will drive the PayFi ecosystem. The RTX token will give holders voting rights, allowing them to participate actively in the platform’s future. With a low entry point of $0.0177, which is set to surge to $0.0185 soon, Remittix guarantees long-term value appreciation and stability with the project’s token vesting scheme.
Thanks to blockchain technology, payment records are tamper-proof, assuring users of the high reliability of the PayFi solutions. As the global industry embraces crypto solutions, the Remittix momentum is set to continue surging, allowing investors to capitalize on the opportunity and add RTX into their portfolios.
Remittix Could Surpass Crypto Giants Like Pepe
Remittix is perfectly positioned as a unique project, gaining traction with its innovative crypto-fiat integration. This feature could propel Remittix into more gains before official launch, as it seeks to mirror and potentially outshine well-known cryptos, including Pepe!
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