#Web3

24 hours and is currently trading at a price of $0.00001345.

PEPE Rally

This represents an astonishing gain of 87.5% in the last month. Moreover, the surge has had cascading effects on the digital asset derivatives markets. CoinGlass data shows that short positions betting against the rise in PEPE's price faced liquidations estimated at around $2 million in the past twenty-four hours.

During the same period, long traders also incurred losses of about $907,000. Meanwhile, open interest in PEPE futures contracts jumped by 15%, surpassing $500 million - a level last seen in January.

Open interest measures the total value of active and unsettled futures contracts and is typically used to gauge market sentiment and trading activity. This new wave of activity, driven by a large investor, is reinforcing PEPE's position as a leading digital asset. This token also places itself among the most followed cryptocurrencies in today's volatile market.