Pepe Coin Shorters Lose $17 Mln As PEPE Surges By 100%
According to recent news about Pepe Coin Shorters, this meme currency that started the uptrend, has become this week’s top gainer. In the previous 7 days, the price of Pepe Coin has increased by more than 756%, according to the data.
This increase follows a listing of the popular meme currency on all major exchanges. However, during the current upswing, traders who went short against the PEPE paid a steep price.
Keys Takeaways:
- The price of Pepe coin (PEPE) increased by 100%, and Pepe traders sold $30 million in funds.
- Traders bet on the fall in the price of Pepe following a sharp increase.
- Pepe coin (PEPE) overtake Shiba Inu (SHIB) and Dogecoin (DOGE) in the crypto ranking.
- The current trading price of PEPE is $0.000002934.
- Previously, the price of PEPE increased by 274%, and it raised approximately $3 billion.
In the previous 24 hours, over 56K dealers were traded, according to the Coinglass data. At the same time, estimates that $179 million had been spent on liquidations overall.
PepeCoin Shorters
However, during its recent 100% price increase, Pepe traders had to sell almost $30 million in money. While the same period under the contract, 1000PEPE also had a $13.37 million liquidation.
The traders take many positions, which are short bets on the popular meme coin, according to the data. $17.35 million (57.6%) out of the $30 million seems sufficient.
Also, the price of Pepe would decline following a sharp increase, according to the trader’s betting. However, the price of PEPE increased by over 100% due to recent statements made by leading exchanges.
In the previous 30 days, the price of Pepe increased by 5000%. This price increase has overtaken the other two meme cryptos in the rankings. It is now third, slightly after Dogecoin (DOGE) and Shiba Inu (SHIB).
In the previous 24 hours, the price of Pepe Coin has increased by a staggering 46%. At the time of writing, its trading price is $0.000002934. The amount traded in 24 hours has increased by 274%, reaching approximately $3 billion.
Unprecedented Response from Crypto Titans to Pepe Coin Shorters
Crypto Mak took to Twitter and made an announcement that Pepe Coin Shorters Suffer $17 Million in Losses as PEPE Rises 100%
STCK.PRO took to Twitter and made an announcement that $17.35 million of the $30 million in liquidation was found to be a short position. Traders have placed bets on Pepe falling.
Crypto411 took to Twitter and made an announcement that PEPE is the largest gainer o this week because of the increase in the price of Pepe coin (PEPE).
Do You Know?
- Pepe Coin, which is based on the popular internet meme character Pepe the Frog, was created in 2016 as a joke but has since become a legitimate cryptocurrency with a dedicated community of supporters.
- The shorter who lost $17 million were betting that Pepe Coin’s value would decline, but instead, the coin surged by 100%, causing them to lose their entire investment.
- Pepe Coin’s sudden surge in value was likely due to a combination of factors, including increased demand from buyers, positive news coverage, and social media buzz.
- Despite the losses suffered by shorter, many investors who held onto their Pepe Coin saw significant gains, with some reporting returns of over 1000%.
- While Pepe Coin’s surge was certainly unexpected, it highlights the unpredictable nature of the cryptocurrency market and the potential for significant gains or losses depending on market conditions and investor sentiment.
Crux:
In recent news, the Pepe coin (PEPE) price increased by 100%, and the shorters of PEPE suffered $17 million in losses. Now traders are betting on the fall of PEPE price after the sharp increase. In the previous 24 hours, the trading price of PEPE was $0.000002934. There was a 274% increase in the trading price, approximately $3 million.