Leading meme assets Dogecoin [DOGE], Pepe [PEPE], and dogwifhat [WIF] witnessed a surge in long liquidations following the...
Liquidations occur in an asset’s derivatives market when a trader’s position is forcefully closed due to insufficient funds to maintain it.
For PEPE, out of the $6 million worth of closed positions, long positions accounted for over $4 million. WIF experienced total liquidations of $2.06 million, with long liquidations reaching $1.8 million.The decline in DOGE’s price in the last 24 hours and the ensuing long liquidations have led to a spike in short trades opened.
On the other hand, when the Funding Rate is negative, it means the asset’s contract price is lower than the spot price, and short traders pay a fee to traders holding long positions,
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