$PEPE just gave back the entire pump from yesterday. It ran from about 0.00439 to 0.00512 on the 1000PEPE perp, and now it's sitting right back at 0.00437 like it never happened.
The Binance futures data tells the story. OI jumped from around $82M to $108M during the spike, and it's bled back to roughly $86M since, so most of the late longs have already been flushed. Funding reset to basically zero. But the crowd still hasn't flipped: about 72% of accounts are long, and even top traders sit around 62% long.
On the NanoTrading Fire chart (4h), the real liquidity is lower. Bids and the thickest liquidation bands stack around 0.0038-0.0041, and the volume POC is near 0.00405. Above price there are only thin liquidation bands at 0.0044-0.0046, so a bounce has room but not much fuel.
My read: with that many longs still in, I think $PEPE wants to tag the 0.0040-0.0041 area before anything real happens. A 4h reclaim of 0.0046 would prove me wrong. Watching how $BTC holds too 🐸
Is this just a healthy reset for $PEPE, or did yesterday's pump trap too many people?
NFA, just my read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#PEPE #memecoins #NanoTrading
The Binance futures data tells the story. OI jumped from around $82M to $108M during the spike, and it's bled back to roughly $86M since, so most of the late longs have already been flushed. Funding reset to basically zero. But the crowd still hasn't flipped: about 72% of accounts are long, and even top traders sit around 62% long.
On the NanoTrading Fire chart (4h), the real liquidity is lower. Bids and the thickest liquidation bands stack around 0.0038-0.0041, and the volume POC is near 0.00405. Above price there are only thin liquidation bands at 0.0044-0.0046, so a bounce has room but not much fuel.
My read: with that many longs still in, I think $PEPE wants to tag the 0.0040-0.0041 area before anything real happens. A 4h reclaim of 0.0046 would prove me wrong. Watching how $BTC holds too 🐸
Is this just a healthy reset for $PEPE, or did yesterday's pump trap too many people?
NFA, just my read.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#PEPE #memecoins #NanoTrading