0.0038, PEPE sees 5 consecutive bearish candles over a 4-hour window, grinding tightly along the 24-hour lows. The futures market and the price are two different worlds: the contract order flow shows that actively bought volume surged for 7 hours, jumping 66.65%, with buy orders making up 63%. In the spot market, among the 20 price levels, buy-side volume is 1.83 times that of sell-side. Yet at the lows, there’s no shortage of people willing to catch bids.
But who is doing the catching? Across the entire market, 64% of accounts are still positioned long. However, the whales’ long positions shrank by 2.66% over 7 hours, with accounts down 3.59%. Nearly 70% of the long order share is gradually being dismantled. Retail traders are scrambling for accumulation at the low end, while the main players quietly withdraw from the long camp—this rebound looks more like distribution by the whales.
Add to that the open interest: +9.7% over 24 hours, which strongly signals a bear trend (bear_strong). Price is falling while positions are still building; shorts are pressing down from a high level. The funding rate is only 0.01%, the basis has turned negative, and longs don’t have the ammunition to force a short squeeze.
No beating around the bush: go short. Short around 0.00385–0.0039. Set a stop-loss at 0.00402 (above the 24h high). First target: 0.00365. If it breaks downward, look for 0.00317. Reversal conditions: if price reclaims 0.0040 and open interest continues to expand, or if whale positions shift from reducing to increasing—once the whales turn back to add longs, this trade is immediately invalidated. #1000pepe $1000PEPE
But who is doing the catching? Across the entire market, 64% of accounts are still positioned long. However, the whales’ long positions shrank by 2.66% over 7 hours, with accounts down 3.59%. Nearly 70% of the long order share is gradually being dismantled. Retail traders are scrambling for accumulation at the low end, while the main players quietly withdraw from the long camp—this rebound looks more like distribution by the whales.
Add to that the open interest: +9.7% over 24 hours, which strongly signals a bear trend (bear_strong). Price is falling while positions are still building; shorts are pressing down from a high level. The funding rate is only 0.01%, the basis has turned negative, and longs don’t have the ammunition to force a short squeeze.
No beating around the bush: go short. Short around 0.00385–0.0039. Set a stop-loss at 0.00402 (above the 24h high). First target: 0.00365. If it breaks downward, look for 0.00317. Reversal conditions: if price reclaims 0.0040 and open interest continues to expand, or if whale positions shift from reducing to increasing—once the whales turn back to add longs, this trade is immediately invalidated. #1000pepe $1000PEPE
