The broader crypto market is undergoing intense consolidation, with the heat blowing to high-performant meme coins like dogwifhat (WIF), PEPE and Telegram game Catizen (CATI). Per CoinGlass data, the industry has recorded a total liquidation of $98 million.
WIF, PEPE and CATI on front line
Per data from CoinGlass, 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, and 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.
This Catizen liquidation trend is not unusual, as the token launched after significant hype on Sept. 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.
Catizen exchange boost
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.