PEPE, a meme coin, has experienced a significant price decline leading to the liquidation of long positions in its futures market. Over $7 million worth of long positions have been liquidated in the past three days, causing losses for bullish traders. If the downtrend continues, long holders may face further losses. The price of PEPE has fallen consistently, resulting in liquidations in the futures market and a decrease in open interest. The coin is currently trading below a descending trendline, indicating a bearish trend, but if buying pressure increases, the price could break above the trendline.



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