Checking the market this afternoon, $PEPE has jumped again, up nearly 12% in 24 hours. The price touched 0.00000494, just shy of the 24-hour high.
It was down 5% yesterday, but today it’s already made back most of those losses. Shorts probably haven’t had an easy couple of days—the 24-hour liquidations alone wiped out over $1 million in short positions, while derivatives trading volume hit $900 million, outpacing spot trading.
On-chain selling pressure is also easing, with PEPE’s exchange supply falling from 18.75% to 17.8%.
It’s now stuck just below the descending trendline at 0.00000476, with the September 22 high of 0.00000536 still overhead. Whether it can break above for good depends on whether this rally can sustain its volume.
#PEPE #Meme
It was down 5% yesterday, but today it’s already made back most of those losses. Shorts probably haven’t had an easy couple of days—the 24-hour liquidations alone wiped out over $1 million in short positions, while derivatives trading volume hit $900 million, outpacing spot trading.
On-chain selling pressure is also easing, with PEPE’s exchange supply falling from 18.75% to 17.8%.
It’s now stuck just below the descending trendline at 0.00000476, with the September 22 high of 0.00000536 still overhead. Whether it can break above for good depends on whether this rally can sustain its volume.
#PEPE #Meme