$SHIB Volume in meme coin futures continues to rise, with bets against such tokens losing more than $50 million in the last 24 hours. Data from Coinglass shows that shorts on dogecoin, shiba inu, pepe, floki, and bonk led to over $50 million in liquidations, pushing the prices of these tokens higher.

Meme coins Pepe (PEPE) and WIF are up 100% and 80% respectively, setting new records. Bullish bets on DOGE have reached a record $1 billion, with a 70% stake on the token's long-term growth.

Open interest in PEPE, SHIB, BONK and FLOKI has also increased manifold to a total of $1.5 billion in the last few days. Rising futures rates indicate an influx of new funds into the market.

$FLOKI

$PEPE