What Happened: As a result of well-known financial companies like BlackRock, WisdomTree, and Fidelity filing for spot #Bitcoin ETFs, the market for cryptocurrencies as a whole has seen a substantial shift, which is why #PEPE's rising velocity is congruent with it.

The larger #cryptocurrency market has benefited from this development, which has sparked investor interest and caused price surges of 1% and 0.73%, respectively, in the last day for popular meme coins like $DOGE and #SHIB.

From a total of $3.03 million in liquidations, there have been considerable #liquidations of PEPE short positions in the last 24 hours, totaling $2.02 million.