Part of PEPE's strength likely came from a forced buyer: Binance.
1. Binance says it has replenished about 98% of the hacked assets, buying through market and OTC channels. PEPE is liquid, so my guess is most of that buying is already done.
2. That makes this week the first clean test. I'd want $PEPE spot volume holding near today's $73.1M, not halving in a session or two.
3. A daily close above $0.00000567 on rising volume would change my mind. A close under $0.00000474 says the move was mostly mechanical.
Fair counter: positioning leans short, which can fuel a squeeze anyway.
Point 1, 2 or 3, which one's wrong?
just my read, nfa
1. Binance says it has replenished about 98% of the hacked assets, buying through market and OTC channels. PEPE is liquid, so my guess is most of that buying is already done.
2. That makes this week the first clean test. I'd want $PEPE spot volume holding near today's $73.1M, not halving in a session or two.
3. A daily close above $0.00000567 on rising volume would change my mind. A close under $0.00000474 says the move was mostly mechanical.
Fair counter: positioning leans short, which can fuel a squeeze anyway.
Point 1, 2 or 3, which one's wrong?
just my read, nfa
