$PEPE Now at 0.00278, 0.003—after grinding that wall for so many days, it still couldn’t hold. It directly broke below 0.0028 and gave up.
In four hours, six lines and four are bearish. The direction has been steadily down. In 24 hours it dropped more than three points. The little bounce it had? It all got dumped back out.
In the order book, the buy side is thinner by a large margin compared to the sell side. Even with spot large orders, there’s still net inflow of 0. At this level, it’s being held up purely by sentiment—no one is truly stepping in with real money.
The futures side is even uglier. Open interest shrank by 3.5% in a day, and the price followed the drop. This is longs cutting losses and exiting—not a shakeout. The fee is still sitting at 0.01% and hasn’t spiked. Because it hasn’t spiked, the sell pressure hasn’t flushed out completely.
I won’t chase at this point. I’ll wait until this selling pressure fully exhausts and there’s someone who can actually absorb it—don’t go again and use the so-called breakout to give trapped holders a chance to get out.
#pepe $PEPE
In four hours, six lines and four are bearish. The direction has been steadily down. In 24 hours it dropped more than three points. The little bounce it had? It all got dumped back out.
In the order book, the buy side is thinner by a large margin compared to the sell side. Even with spot large orders, there’s still net inflow of 0. At this level, it’s being held up purely by sentiment—no one is truly stepping in with real money.
The futures side is even uglier. Open interest shrank by 3.5% in a day, and the price followed the drop. This is longs cutting losses and exiting—not a shakeout. The fee is still sitting at 0.01% and hasn’t spiked. Because it hasn’t spiked, the sell pressure hasn’t flushed out completely.
I won’t chase at this point. I’ll wait until this selling pressure fully exhausts and there’s someone who can actually absorb it—don’t go again and use the so-called breakout to give trapped holders a chance to get out.
#pepe $PEPE