The crypto market is undergoing significant consolidation, impacting high-performing meme coins like dogwifhat (WIF), PEPE, and Telegram game Catizen (CATI). According to CoinGlass data, the total liquidation in the industry has reached $98 million.
WIF, PEPE, and Catizen on the Front Line
According to CoinGlass data, these tokens have outperformed most altcoins in 24-hour liquidation figures. Solana-based WIF has recorded $1.39 million in total liquidations. Long traders suffered the most, with $1.2 million liquidated, while short traders lost just $192,820. PEPE also recorded fairly high liquidations of $1.27 million as long traders took a $1.03 million loss overall. The PEPE short trading saw a $242,960 loss, a trend marked by the 1.86% slump in price in 24 hours to $0.000008411. The interest in Catizen was massive overall, as the liquidation figures topped $5.88 million. Short traders' losses were more significant, at $3.16 million, while short trading saw a total loss of $2.72 million.
Catizen Exchange Boost
This Catizen liquidation trend is not unusual, as the token launched after significant hype on September 20. The hype is thinning out fast, with the price increasing by a marginal 1.02% in 24 hours to $0.9294. As the currently trending token, its trading volume has jumped by over 4,200% to $1,130,882,362.
Future Liquidation Trends
Catizen has stayed at the top of the chart in recent times as it represents a new niche of high-performing digital tokens that are liked by the GameFi ecosystem. As reported earlier, Catizen bagged the Bybit listing, solidifying its future listing, which sparked intense liquidation trends. For the three featured tokens, the next trend remains uncertain. However, PEPE has been featured in many high-profile performant metrics, as reported by U.Today. WIF also remains among the most successful meme coins on the Solana blockchain. This liquidation trend might be temporary. However, it underscores the general market outlook, which demands caution from investors.
The cryptocurrency market continues to show volatility, reflected in high liquidation volumes for tokens such as WIF, PEPE, and Catizen. Attention for these tokens remains high despite price and trading volume fluctuations, and investors need to stay vigilant amid the current market dynamics.
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