Aug 26, 2024
6thTrade
PEPE has been making headlines amid a general slowdown in market activity. Notably, Ethereum (ETHUSD) has surpassed Bitcoin (BTCUSD) in 24-hour market liquidations, but PEPE has also climbed the ranks, surpassing other popular tokens like Dogewifhat (WIF), Shiba Inu (SHIBUSD), and Dogecoin (DOGEUSD), according to data from CoinGlass.
247 Billion PEPE Liquidation
On-chain data reveals that PEPE has experienced a substantial $2.33 million in liquidations over the past 24 hours. This figure includes $1.32 million in liquidations from long positions and $1.01 million from short positions. In terms of the actual number of tokens, this liquidation represents over 247 billion PEPE. While such activity isn’t unprecedented, the fact that PEPE has seen more liquidations than SHIB and DOGE suggests that a growing number of traders are paying attention to this meme coin.
Regarding its price movement, PEPE is currently trading at $0.000009137, up by 0.14% over the past 24 hours. However, its trading volume has declined by over 36% to $606,933,995. Over the past week, PEPE has made a notable impact, recently securing a listing that boosted whale activity by more than 109%. As a strong competitor to SHIB and DOGE, PEPE is known for its high transaction volume and currently ranks as the 15th most traded token on the market.
What’s Next for PEPE?
The growth dynamics of PEPE are intriguing. While the token is relatively stable at the moment, it has seen a 26.36% increase over the past week but is still down by 23.33% for the month. Despite this volatility, market watchers are closely observing whether PEPE can return to its four-week high amid the current uncertainty. With PEPE in the spotlight, there is a significant opportunity for traders looking to go long on this meme coin, with short-term expectations centered around the possibility of "clearing one zero" in its price.
#6thTrade #DOGSONBINANCE #BNBChainMemecoins #BecomeCreator
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are highly volatile and can result in significant financial loss. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. The views expressed in this article are those of the author and do not necessarily reflect the opinions of the publisher or any affiliated parties. Investing in cryptocurrencies carries inherent risks, and past performance is not indicative of future results. Proceed with caution.
