$PEPE is showing impressive strength, but traders should look beyond the ETF speculation.
One factor worth watching is the recent Binance hacking incident and the PEPE tokens reportedly stolen and moved to a wallet for potential selling.
If Binance is still absorbing some of that supply through market purchases, it could be providing temporary support to PEPE.
However, this situation comes with a potential downside.
Once PEPE withdrawals are fully restored and the related buying pressure fades, the market could lose an important source of support.
That’s why I’m watching PEPE carefully. The current strength is interesting, but a deeper correction cannot be ruled out. 📉
Stay alert. Don't chase the rally without confirmation. #Write2Earn #Binance #Crypto
One factor worth watching is the recent Binance hacking incident and the PEPE tokens reportedly stolen and moved to a wallet for potential selling.
If Binance is still absorbing some of that supply through market purchases, it could be providing temporary support to PEPE.
However, this situation comes with a potential downside.
Once PEPE withdrawals are fully restored and the related buying pressure fades, the market could lose an important source of support.
That’s why I’m watching PEPE carefully. The current strength is interesting, but a deeper correction cannot be ruled out. 📉
Stay alert. Don't chase the rally without confirmation. #Write2Earn #Binance #Crypto