Funding on $PEPE has gone from paying longs to charging them the maximum in three days. Five consecutive settlements printed negative between 16:00 on 17 October and 00:00 on 19 October, the deepest at minus 0.0257 percent. Of the four settlements since, three came in at 0.0100 percent, which is the cap.
Positioning explains the shift. The long short account ratio reads 2.4165, which is 70 accounts in 100 holding longs, and it has not left the 2.38 to 2.46 band across the last ten hourly prints. Open interest followed, from 18,172M at 12:00 yesterday to 18,833M at 08:00 today, up 3.6 percent, or 74.30M to 78.60M in dollars.
What that positioning has bought so far is 1.7 percent. The token trades at 0.00000417 against a session high of 0.00000423, and spot turnover was 26.93M over 24 hours against a 30 day average of 37.08M, so 0.73x, across 94,835 trades. The crowd is leaning one way on less than three quarters of normal volume.
On the daily the structure is still lower high, lower low, lower high, and price sits just under equilibrium inside the supply band it has failed at since 12 October. The 0.00000536 of 22 September is 22.2 percent overhead. The 0.00000364 of 8 October is 14.6 percent below.
Rank 49, a 1.72B cap, and a funding bill that has run at the cap for three of the last four settlements.
Follow for the on-chain numbers behind each move.
#PEPE #memecoin #altcoins #BTC #crypto
Positioning explains the shift. The long short account ratio reads 2.4165, which is 70 accounts in 100 holding longs, and it has not left the 2.38 to 2.46 band across the last ten hourly prints. Open interest followed, from 18,172M at 12:00 yesterday to 18,833M at 08:00 today, up 3.6 percent, or 74.30M to 78.60M in dollars.
What that positioning has bought so far is 1.7 percent. The token trades at 0.00000417 against a session high of 0.00000423, and spot turnover was 26.93M over 24 hours against a 30 day average of 37.08M, so 0.73x, across 94,835 trades. The crowd is leaning one way on less than three quarters of normal volume.
On the daily the structure is still lower high, lower low, lower high, and price sits just under equilibrium inside the supply band it has failed at since 12 October. The 0.00000536 of 22 September is 22.2 percent overhead. The 0.00000364 of 8 October is 14.6 percent below.
Rank 49, a 1.72B cap, and a funding bill that has run at the cap for three of the last four settlements.
Follow for the on-chain numbers behind each move.
#PEPE #memecoin #altcoins #BTC #crypto