DOGE, SHIB, PEPE, FLOKI, and BONK see over $50M in short positions liquidated in the past 24 hours
Meme coins, such as Pepe (PEPE), have seen a significant price increase, with shorts losing a cumulative $50 million in the past 24 hours. According to data from Coinglass, bets against Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Floki (FLOKI), and Bonk (BONK) saw over $50 million in liquidations in the past 24 hours. This contributed to the price surge among these tokens. Meme coins started to come into focus last week as proxy bets on the growth of whichever blockchains these tokens are based on. Especially Ethereum-based DOGE, SHIB, PEPE, and FLOKI have captured most of the meme trading