DOGE, PEPE And WIF See Millions In Token Liquidations
The slump in the digital currency ecosystem is causing significant liquidation in the meme coin market, with data from CoinGlass revealing a total of $413.85 million in liquidations. The recent rally has caused a drop in the prices of top meme coins like Dogecoin (DOGE), PEPE, and Dogwifhat (WIF). PEPE has suffered the most liquidation, worth $9.33 million in 24 hours, with long traders receiving the most “rekt.”
Dogecoin (DOGE) follows with a total of $8.27 million in losses, accounting for 56,916,724 DOGE washed-off futures and derivatives markets overnight. Dogwifhat is also among the most liquidated meme coins, with $4.14 million recorded.
These liquidations come after massive price drops from these meme coins, with Dogecoin tripping by 9.57%, PEPE by 11.28%, and Dogwifhat down by 18.33%. Other top players, including Shiba Inu and FLOKI, also recorded losses, pegged at 8.11% and 11.72%, respectively.
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