PEPE's $0.00000433 floor broke — and shorts are still paying longs to stay in.
I had that floor holding by two ticks. It didn't — PEPE wicked to $0.00000418 and sits at $0.00000424, down 5.15%, under the Nov 12 low too.
What matters isn't the price, it's the leverage. CoinGlass has 1000PEPE open interest at $158.62M, down 6.41%, with $2.13M liquidated — $1.69M longs — and funding negative, so shorts pay longs. Longs got flushed, nobody is buying the dip.
DOGE wicked under $0.06301 to $0.0621 and climbed back. SHIB sits under $0.00000431 too. PEPE is the weakest of the three, and $BTC at $67,135 rescues no one.
Leaning bearish while $PEPE stays under $0.00000433. A daily close back above it calls the break a wick; under $0.00000400 opens the next leg down.
$PEPE — if it reclaims $0.00000433 tonight, do you buy the reclaim or wait for $0.00000400?
Not financial advice. DYOR.
#PEPE #MemeCoins #CryptoMarket
I had that floor holding by two ticks. It didn't — PEPE wicked to $0.00000418 and sits at $0.00000424, down 5.15%, under the Nov 12 low too.
What matters isn't the price, it's the leverage. CoinGlass has 1000PEPE open interest at $158.62M, down 6.41%, with $2.13M liquidated — $1.69M longs — and funding negative, so shorts pay longs. Longs got flushed, nobody is buying the dip.
DOGE wicked under $0.06301 to $0.0621 and climbed back. SHIB sits under $0.00000431 too. PEPE is the weakest of the three, and $BTC at $67,135 rescues no one.
Leaning bearish while $PEPE stays under $0.00000433. A daily close back above it calls the break a wick; under $0.00000400 opens the next leg down.
$PEPE — if it reclaims $0.00000433 tonight, do you buy the reclaim or wait for $0.00000400?
Not financial advice. DYOR.
#PEPE #MemeCoins #CryptoMarket
