$1000PEPE’s 15m candle looks a bit rough. A 1-point drop is fine; the key is that OI and price are falling together, and 1h notional is down another 2M+. Clearly, leverage is being unwound—not new shorts piling in to dump. The taker buy/sell ratio is 0.69, and sell-side Binance liquidations on the 5m chart have piled up to 312K, sweeping out a round of long stop-losses. Its abnormality percentile is 91.5%, ranking 4th across the entire pool. This deleveraging tail isn’t over yet, so don’t rush to buy the dip.