$UNI PEPE held firm over the past few days, essentially because Binance had to replenish its inventory on the secondary market after being hacked, adding a wave of passive buying pressure. Withdrawals opened at noon on November 5, which means the inventory had been replenished. The passive buybacks that followed the hack have now exited, removing the extra support behind its short-term strength.
$PEPE The final portion is still being replenished: 98% has been restored, with the remaining 2% harder to source due to poor liquidity and slower buying. The compensatory buying hasn’t disappeared entirely, but it’s losing steam, which is why the price is still fluctuating around 0.000005. The key thing to watch is the announcement that PEPE withdrawals have resumed. That will mark the end of the “Binance is buying” narrative, after which PEPE will return to following the broader market.
$PEPE The final portion is still being replenished: 98% has been restored, with the remaining 2% harder to source due to poor liquidity and slower buying. The compensatory buying hasn’t disappeared entirely, but it’s losing steam, which is why the price is still fluctuating around 0.000005. The key thing to watch is the announcement that PEPE withdrawals have resumed. That will mark the end of the “Binance is buying” narrative, after which PEPE will return to following the broader market.
