Pepe Coin Shorters Loses $17 Mln As PEPE Surges By 100%

Pepe Coin News: Leading the meme coins to rally, Pepe (PEPE) has emerged as the biggest gainer of this week. As per the data, Pepe Coin price is already up by more than 756% in the last 7 days. This surge comes after all major exchanges announced the listing of the trending meme coin. However, traders going short against the PEPE had paid a heavy price amid the recent surge.

Also Read: Pepe Price Shoots 106% As KuCoin, Crypto.Com Announce Listing

PEPE Shorters Are In Deep Pain

According to the data provided by Coinglass, more than 56K traders were liquidated in the last 24 hours. While the total liquidations were calculated to stand around $179 million. However, around $30 million of funds got liquidated from Pepe traders amid its recent 100% price surge. While contract named 1000PEPE also reported $13.37 million liquidation in the same period of time.

Data depicts that most of the positions taken by traders were short against the trending meme coin. Out of a total of $30 million, $17.35 million of liquidation (57.6%) turned out to be short. Traders were betting Pepe price to drop after a massive surge. However, with all the recent announcements done by top exchanges, PEPE price jumped by over 100%.

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