Q: With $PEPE 24 hours of open interest down 10.8% and price up 11.46%, what does that indicate?
A: This rally seems to be driven more by short covering; so far, there’s no sign of new longs entering. Short covering eventually runs its course, and whether the rally can continue depends on whether fresh buying comes in.
#PEPE
A: This rally seems to be driven more by short covering; so far, there’s no sign of new longs entering. Short covering eventually runs its course, and whether the rally can continue depends on whether fresh buying comes in.
#PEPE