$PEPE -9.1% to $0.000004980 on $98.6M volume as of 14:39 UTC.
Traders are 71% long into the drop, even as shorts pay funding.
Perpetual open interest fell -8% to $108.0M, showing traders closing positions rather than opening new ones. The funding rate sits at -0.0226%, meaning shorts are paying longs, despite a 2.50 long/short account ratio. Spot is up +0.2% in the last hour off the $0.000004930 low.
There is no clear catalyst yet for the slide.
Risk: High volatility across the $0.000004930 to $0.000005620 range, with heavily one-sided long accounts vulnerable as open interest shrinks.
With shorts paying negative funding while retail stays long, which side do you trust?
Mover Desk · numbers, not hype
#PEPE #MemeCoin #CryptoTrading #Futures
Not financial advice. DYOR.
Traders are 71% long into the drop, even as shorts pay funding.
Perpetual open interest fell -8% to $108.0M, showing traders closing positions rather than opening new ones. The funding rate sits at -0.0226%, meaning shorts are paying longs, despite a 2.50 long/short account ratio. Spot is up +0.2% in the last hour off the $0.000004930 low.
There is no clear catalyst yet for the slide.
Risk: High volatility across the $0.000004930 to $0.000005620 range, with heavily one-sided long accounts vulnerable as open interest shrinks.
With shorts paying negative funding while retail stays long, which side do you trust?
Mover Desk · numbers, not hype
#PEPE #MemeCoin #CryptoTrading #Futures
Not financial advice. DYOR.