The post PEPE Running DOGE Playbook As The 2 Memes Get Exposed To High Leverage appeared on BitcoinEthereumNews.com.

Dogecoin (DOGE) and PEPE coin, two prominent memecoins, faced exposure to high leverage on trading platforms. Both were at a pivotal juncture, surrounded by liquidation pools that could precipitate sharp price fluctuations in any market direction. DOGE and PEPE Exposed to High Leverage on Exchanges Price movement for Doge coin indicates that aggregated liquidation levels significantly influenced it. During the past month, DOGE coin found itself navigating through two major liquidation clusters. The first, more substantial one, was positioned near $0.50, marking a crucial zone for shorts. The level acted as a potential ceiling, where short-sellers faced high risks of liquidation as prices rallied. Conversely, a second key liquidation zone emerged below $0.35, primarily affecting long positions. This lower boundary, if broken, could trigger a cascade of sell-offs and further depress it’s value. DOGE Aggregated Liquidation Levels Heatmap | Source: Alphractal Notably, the liquidation map showed a slight predominance of long positions, suggesting an optimistic bias among traders. – Advertisement – However, irrespective of directional movement—whether upwards towards $0.50 or downwards past $0.35—substantial liquidations were inevitable. Breaches of these levels could result in significant price fluctuations and potential trading opportunities. As for PEPE coin, substantial liquidation events occurred recently. There was sharp price increase which subsequently triggered numerous long position liquidations. The main concentration of these liquidations was positioned below the then-current price. Many traders had established long positions anticipating further price increases. However, the sudden surge led to a contrary effect—activating stop losses and liquidating positions en masse. The heatmap indicated intense activity levels during these transactions. PEPE Aggregated Liquidation Levels Heatmap | Source: Alphractal Additionally, the map showed the accumulated liquidation levels of long versus short positions. The long liquidations dominated, especially post the aforementioned pump. This left a dominant pool of long liquidations below the current price.…

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Filed under: News - @ December 15, 2024 6:16 pm