Whales pulled $16.9M of PEPE off exchanges last week. So why is it down 12.5% — the worst in the top 100?
I'm watching the flow, not the headline. 47 wallets netted $16.9M off exchanges in a week — but in the last 24 hours they deposited $8.6M and withdrew $4.6M. Withdrawals aren't buying; the 'accumulation' read was the trap.
PEPE closed Wednesday down 16%, under its $0.00000450 shelf and the 50-day average near $0.00000446. $2.62M got liquidated — 94% longs — while open interest fell 10% to $339M and funding went negative.
Three ways this plays: $0.00000431 holds — the Oct 30 step-in — and a base builds. A close above $0.00000450 says the flush was a wick. Lose it and the 200-day near $0.00000391 is next.
Support $0.00000431 · Resistance $0.00000450 / $0.00000500
Supply is fixed, no unlocks or new issuance — price is pure demand, and demand walked out.
Down to $0.00000431, back to $0.00000450, or all the way to $0.00000500 — which print comes first?
NFA, DYOR.
$PEPE $BTC #Altcoins #PEPE #Memecoins
I'm watching the flow, not the headline. 47 wallets netted $16.9M off exchanges in a week — but in the last 24 hours they deposited $8.6M and withdrew $4.6M. Withdrawals aren't buying; the 'accumulation' read was the trap.
PEPE closed Wednesday down 16%, under its $0.00000450 shelf and the 50-day average near $0.00000446. $2.62M got liquidated — 94% longs — while open interest fell 10% to $339M and funding went negative.
Three ways this plays: $0.00000431 holds — the Oct 30 step-in — and a base builds. A close above $0.00000450 says the flush was a wick. Lose it and the 200-day near $0.00000391 is next.
Support $0.00000431 · Resistance $0.00000450 / $0.00000500
Supply is fixed, no unlocks or new issuance — price is pure demand, and demand walked out.
Down to $0.00000431, back to $0.00000450, or all the way to $0.00000500 — which print comes first?
NFA, DYOR.
$PEPE $BTC #Altcoins #PEPE #Memecoins
