**Over 247 Billion PEPE Tokens Liquidated in 24 Hours – What’s Behind This Surge?**
*August 26, 2024 *
PEPE has been making waves in the market, even as overall activity slows down. Interestingly, Ethereum (ETHUSD) has overtaken Bitcoin (BTCUSD) in 24-hour liquidations, but PEPE is also grabbing attention, outperforming popular tokens like Dogewifhat (WIF), Shiba Inu (SHIBUSD), and Dogecoin (DOGEUSD), according to CoinGlass data.
**247 Billion PEPE Liquidated**
On-chain data shows that in the past 24 hours, PEPE has seen a significant $2.33 million in liquidations. This includes $1.32 million from long positions and $1.01 million from short positions. In terms of tokens, this liquidation amounts to over 247 billion PEPE. While such levels of activity aren’t unheard of, the fact that PEPE has seen more liquidations than SHIB and DOGE suggests that more traders are taking an interest in this meme coin.
**PEPE's Current Market Status**
As for its price, PEPE is currently trading at $0.000009137, a slight increase of 0.14% over the past 24 hours. However, its trading volume has dropped by more than 36% to $606,933,995. Over the past week, PEPE has made a strong impression, recently securing a new listing that boosted whale activity by over 109%. As a serious competitor to SHIB and DOGE, PEPE is known for its high transaction volume and now ranks as the 15th most traded token in the market.
**What’s Next for PEPE?**
PEPE’s growth dynamics are intriguing. Although the token is relatively stable at the moment, it has seen a 26.36% increase over the past week but remains down by 23.33% for the month. Despite this volatility, market observers are watching closely to see if PEPE can return to its four-week high amid ongoing uncertainty. With PEPE in the spotlight, there’s a significant opportunity for traders considering going long on this meme coin, with short-term expectations focused on the possibility of "clearing one zero" in its price.