PEPE Surpasses 247 Billion Liquidations in 24 Hours: Is a Rebound on the Horizon?

2 weeks ago 7

The cryptocurrency market has recently witnessed a significant surge in PEPE liquidations, with the token outperforming even some of the biggest names like Shiba Inu (SHIB) and Dogecoin (DOGE). Amid a general slowdown in market liquidations, PEPE's activity has caught the attention of traders and analysts alike, raising questions about its potential for a rebound. So what to expect for PEPE?

PEPE Record Liquidations

In the past 24 hours, PEPE has experienced a substantial $2.33 million in liquidations, translating to over 247 billion tokens. This liquidation figure includes $1.32 million from long positions and $1.01 million from short positions. While large-scale liquidations are not uncommon in the volatile world of cryptocurrencies, PEPE’s performance is notable as it surpasses SHIB and DOGE in this regard, indicating a growing interest in the token.

PEPE Price and Trading Volume

Despite the heavy liquidations, PEPE's price remains relatively stable, trading at $0.000008587087, marking a slide of 5.12% in the last 24 hours. However, the trading volume has increased, now at $624.868M making it the 11th most traded token in the market.

By TradingView- PEPE Trading Volume (24h)

Over the past week, PEPE has seen significant movements with an increase of 11% adding to its YTD performance of 560%, including a recent listing that boosted whale activity by more than 109%.

PEPE Price Analysis: Will PEPE Rebound?

PEPE's recent growth dynamics present an interesting scenario for investors. Although the token is currently experiencing flat trading, it has risen by over 11.25% in the past week, despite a 28.20% decline over the last month. As market conditions remain uncertain, the focus is now on whether PEPE can reclaim its four-week high. For traders betting on a rebound, PEPE offers a promising opportunity, particularly if it can clear one more zero in its price.