#NFPCryptoImpact

The recent drop in PEPE price has led to a wave of liquidations by traders holding long positions in the meme coin futures market.

Over the past three days, over $7 million in long positions have been liquidated, indicating significant losses for bullish traders.

If the downtrend continues in the short term, PEPE long holders could face further losses.

Here’s why.

PEPE’s slump triggers $7.7 million in liquidations.

PEPE price has been steadily declining over the past few days. The meme coin is trading at $0.000017 at press time, recording a 14% price decline over the past seven days.