Yesterday I said $PEPE held its Nov 12 low — today it slipped under it to $0.00000429, flushed $3.37M of longs, and turned green anyway.
CoinGlass puts 24h PEPE liquidations at $4.16M — 81% longs — and open interest fell 7.9% to $163M. The dip WAS the flush, and the flush became the bounce: PEPE +2.68% at $0.00000460, DOGE -3.43%, SHIB -1.38%, on $85M spot volume vs DOGE's $52M.
I almost wrote this off as a dead-cat bounce — then I saw the longs got wiped at the low, not the top. I'm leaning the flush is done, but funding is still +0.0089% per 8h, so a hot PPI at 13:30 UTC flushes them again.
If $0.00000469 breaks, $0.00000493 is next. Lose $0.00000429 and the bounce was a trap — $0.00000400 opens.
Does $PEPE hold $0.00000429 through PPI, or does round two of the flush take it?
Not financial advice. DYOR.
#PEPE #MemeCoins #PPI
CoinGlass puts 24h PEPE liquidations at $4.16M — 81% longs — and open interest fell 7.9% to $163M. The dip WAS the flush, and the flush became the bounce: PEPE +2.68% at $0.00000460, DOGE -3.43%, SHIB -1.38%, on $85M spot volume vs DOGE's $52M.
I almost wrote this off as a dead-cat bounce — then I saw the longs got wiped at the low, not the top. I'm leaning the flush is done, but funding is still +0.0089% per 8h, so a hot PPI at 13:30 UTC flushes them again.
If $0.00000469 breaks, $0.00000493 is next. Lose $0.00000429 and the bounce was a trap — $0.00000400 opens.
Does $PEPE hold $0.00000429 through PPI, or does round two of the flush take it?
Not financial advice. DYOR.
#PEPE #MemeCoins #PPI
