$1000PEPE just broke through nearly 20 of the 5m lower-band levels; the volume can be pushed directly to more than 2x. Active trade imbalance is -9.4%, buy/sell ratio is 0.83, and sell pressure is dominant.
What’s interesting is the OI—1h +0.88%, 15m +0.17%. Nominal change isn’t big, but the direction is clear: price is down while open interest is up. New leveraged shorts are entering; it’s not a long squeeze—it’s someone actively pressing downward.
The 24h trading value is still 256M, and the liquidity depth is sufficient, but at this spot it depends on whether it can quickly reclaim the range. Otherwise, the shorts’ thesis will reinforce itself. Keep an eye on it.
What’s interesting is the OI—1h +0.88%, 15m +0.17%. Nominal change isn’t big, but the direction is clear: price is down while open interest is up. New leveraged shorts are entering; it’s not a long squeeze—it’s someone actively pressing downward.
The 24h trading value is still 256M, and the liquidity depth is sufficient, but at this spot it depends on whether it can quickly reclaim the range. Otherwise, the shorts’ thesis will reinforce itself. Keep an eye on it.
