$1000PEPE got slammed over this 15m stretch, and volume really surged.
Trading volume hit 8.7x its usual level. OI fell in sync across both the 15m and 1h timeframes, with nearly 3M wiped off the notional value. Price down + open interest down: classic leveraged longs getting liquidated, not fresh shorts piling in to drive the selloff.
The taker buy/sell delta was -30%, and the buy/sell ratio was 0.54, with sellers clearly in control. OI’s anomaly percentile hit 100%, ranking 7th across the entire pool. This kind of setup is uncommon for PEPE, and it’s been persisting across multiple timeframes—not just a one-candle spike.
There’s still $215M in 24h trading volume providing support, so liquidity isn’t an issue. But once this kind of long deleveraging gets going, a second wave often follows. Don’t rush to buy the dip—wait and see when OI stabilizes.
Trading volume hit 8.7x its usual level. OI fell in sync across both the 15m and 1h timeframes, with nearly 3M wiped off the notional value. Price down + open interest down: classic leveraged longs getting liquidated, not fresh shorts piling in to drive the selloff.
The taker buy/sell delta was -30%, and the buy/sell ratio was 0.54, with sellers clearly in control. OI’s anomaly percentile hit 100%, ranking 7th across the entire pool. This kind of setup is uncommon for PEPE, and it’s been persisting across multiple timeframes—not just a one-candle spike.
There’s still $215M in 24h trading volume providing support, so liquidity isn’t an issue. But once this kind of long deleveraging gets going, a second wave often follows. Don’t rush to buy the dip—wait and see when OI stabilizes.