$1000PEPE has held a double bottom.
It tested 0.0042614 on October 3, then tested it again on October 6. Same level, two tests, neither broke through. I like this kind of repeated confirmation—it’s more convincing than any indicator.
Let’s start with the long bearish candle on October 2, which came with a surge in volume. That day, the price plunged from 0.0047531 to 0.0040623, with the 4-hour candle’s body exceeding 6% and trading volume reaching 92.5M. Since then, the price hasn’t returned above 0.0045. What does that tell us? That candle wasn’t a shakeout—it was a genuine sell-off. But after the sell-off, the price didn’t keep falling. Instead, it moved sideways between 0.0042 and 0.0044 for four days. Holding that range means the bulls are standing their ground.
The chart signals are neutral to bullish. The double bottom is in place, with the neckline around 0.00445. The candle at 20:00 on October 4 reached 0.004443, and the one at 04:00 on October 5 touched 0.0045134, but neither broke through. Two failed attempts at the neckline show that there’s indeed heavy selling pressure above. But as long as 0.0042614 holds, the structure remains a double bottom—not a bearish continuation pattern.
Market sentiment is interesting. The funding rate is -0.0077%, so shorts are paying. After that big bearish candle four days ago, the market clearly leaned bearish, but the price simply stopped falling. Shorts are paying to wait for a breakdown, and they’ve waited four days without getting one. If this continues, the shorts will be the first to give in. I’ve seen this happen many times: funding turns negative while the price holds steady, and in the end, the shorts are the first to exit.
To gauge whale activity, look at trading volume. Between 04:00 and 08:00 on October 5, two candles posted volumes of 51.4M and 44.8M, while the price rose from 0.004428 to 0.004506. Then the 12:00 candle, with 53M in volume, pushed it back down to 0.004395. Buyers stepped in during the rally and again during the sell-off. Whales are rotating positions at this level. The latest candles have seen volume return to the 20–30M range. Lower volume with a stable price is a classic sign of market makers holding the price in place while waiting for a signal.
In terms of volume and price structure, the current volume ratio is 0.87, below the average of the previous 20 candles. Low-volume sideways trading isn’t a bad thing—it suggests selling pressure is drying up. For a genuine reversal, wait for a strong, high-volume bullish candle to break through 0.00445; that would be the confirmation signal. Conversely, if the price breaks below 0.0042614 on low volume, the double bottom has failed. Cut your losses and move on—nothing more to say.
Looking at the last four candles: at 04:00 on October 6, it closed with a small bullish candle at 0.004329; at 08:00, another bullish candle closed at 0.004361; at 12:00, it dipped slightly to 0.004297; and at 16:00, it closed bullish again at 0.0042979. Three bullish candles with one bearish candle in between, with the price holding steady around 0.0043. Each candle has a small range, around 1% in either direction. With volatility compressed this much, a breakout is getting closer.
Nini’s plan: Current price is 0.0042979. The double-bottom setup favors a long position, with a stop-loss at 0.0042614 and a target at the 0.00445 neckline. If it breaks above the neckline on strong volume, add to the position and target 0.00457. If it breaks below the double bottom, admit the trade is wrong and don’t hold on. Consider starting with a 30% position and adding only after a confirmed breakout. Meme coins are volatile, so stick to a hard stop-loss.
For a customized strategy, get in touch with Nini.
#1000PEPE #Meme #DoubleBottom
It tested 0.0042614 on October 3, then tested it again on October 6. Same level, two tests, neither broke through. I like this kind of repeated confirmation—it’s more convincing than any indicator.
Let’s start with the long bearish candle on October 2, which came with a surge in volume. That day, the price plunged from 0.0047531 to 0.0040623, with the 4-hour candle’s body exceeding 6% and trading volume reaching 92.5M. Since then, the price hasn’t returned above 0.0045. What does that tell us? That candle wasn’t a shakeout—it was a genuine sell-off. But after the sell-off, the price didn’t keep falling. Instead, it moved sideways between 0.0042 and 0.0044 for four days. Holding that range means the bulls are standing their ground.
The chart signals are neutral to bullish. The double bottom is in place, with the neckline around 0.00445. The candle at 20:00 on October 4 reached 0.004443, and the one at 04:00 on October 5 touched 0.0045134, but neither broke through. Two failed attempts at the neckline show that there’s indeed heavy selling pressure above. But as long as 0.0042614 holds, the structure remains a double bottom—not a bearish continuation pattern.
Market sentiment is interesting. The funding rate is -0.0077%, so shorts are paying. After that big bearish candle four days ago, the market clearly leaned bearish, but the price simply stopped falling. Shorts are paying to wait for a breakdown, and they’ve waited four days without getting one. If this continues, the shorts will be the first to give in. I’ve seen this happen many times: funding turns negative while the price holds steady, and in the end, the shorts are the first to exit.
To gauge whale activity, look at trading volume. Between 04:00 and 08:00 on October 5, two candles posted volumes of 51.4M and 44.8M, while the price rose from 0.004428 to 0.004506. Then the 12:00 candle, with 53M in volume, pushed it back down to 0.004395. Buyers stepped in during the rally and again during the sell-off. Whales are rotating positions at this level. The latest candles have seen volume return to the 20–30M range. Lower volume with a stable price is a classic sign of market makers holding the price in place while waiting for a signal.
In terms of volume and price structure, the current volume ratio is 0.87, below the average of the previous 20 candles. Low-volume sideways trading isn’t a bad thing—it suggests selling pressure is drying up. For a genuine reversal, wait for a strong, high-volume bullish candle to break through 0.00445; that would be the confirmation signal. Conversely, if the price breaks below 0.0042614 on low volume, the double bottom has failed. Cut your losses and move on—nothing more to say.
Looking at the last four candles: at 04:00 on October 6, it closed with a small bullish candle at 0.004329; at 08:00, another bullish candle closed at 0.004361; at 12:00, it dipped slightly to 0.004297; and at 16:00, it closed bullish again at 0.0042979. Three bullish candles with one bearish candle in between, with the price holding steady around 0.0043. Each candle has a small range, around 1% in either direction. With volatility compressed this much, a breakout is getting closer.
Nini’s plan: Current price is 0.0042979. The double-bottom setup favors a long position, with a stop-loss at 0.0042614 and a target at the 0.00445 neckline. If it breaks above the neckline on strong volume, add to the position and target 0.00457. If it breaks below the double bottom, admit the trade is wrong and don’t hold on. Consider starting with a 30% position and adding only after a confirmed breakout. Meme coins are volatile, so stick to a hard stop-loss.
For a customized strategy, get in touch with Nini.
#1000PEPE #Meme #DoubleBottom