PEPE, di meme-inspired cryptocurrency, ein price dey under pressure sake of e slip below key support level. Experts dey warn say e fit drop by 15%. Dis dey happen as trading volume fall reach $980 million, den open interest shrink 4% go $535 million, according to CoinGlass data. Dis dey show say traders no dey too sure about PEPE future.
Derivatives data dey show say long liquidations hit $326,000, wey dey pass short liquidations wey be $9,900. Dis imbalance fit make di price fall faster.
Activity for di PEPE network don fall, wey daily active addresses no reach 3,000. Glassnode data dey show say dis be big drop from late 2024, wen about 27,500 addresses dey active during big price rally.
One trader, Alpha Crypto Signal, dey talk say PEPE price fit see big drop. Even though di price dey fall, di top 100 PEPE addresses for Ethereum add 0.2% to demma holdings, but PEPE on exchanges rise 1.13%. Dis dey show say some big investors still dey believe for PEPE, even though di market dey worry.
In summary, PEPE dey face wahala sake of trading volume dey fall, open interest dey shrink, den network activity dey reduce. Experts dey warn say e fit drop by 15%. Traders dey watch di market close to see if PEPE fit bounce back or if di price go continue to fall.
Key Takeaways:
- PEPE price dey under pressure.
- Trading volume den open interest dey fall.
- Network activity don reduce.
- Experts dey warn say e fit drop by 15%.
Wet traders suppose do?
Traders suppose dey careful den watch di market close before dem make any decision about buying or selling PEPE.