PEPE’s 17% Crash: Is a Deeper Plunge Coming? Find Out What Happens Next!

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  • PEPE’s selling volume has spiked, while Open Interest keeps shrinking—what a surprise! 😏
  • With no support nearby, PEPE hints it might just take a nosedive from here. Buckle up! 💥

Ah, PEPE. The memecoin that was once on fire, but today it’s feeling the burn. A 17% drop in the past 24 hours? Ouch. But hey, it was up by 25% over the last month, so there’s that. 👀

The market sentiment now? More red flags than a bullfight. The selling frenzy is intensifying, and it’s making PEPE look like it’s ready to tumble further. 😬

Sellers Are Stomping Their Feet, and It’s Not Pretty

Ah, the sweet, sweet scent of panic selling. PEPE’s nosedive is courtesy of the rising selling pressure that’s causing waves.

When you pit the selling volume against the buying volume, you get a delightful little surprise: 50.77% of all derivatives are being driven by sellers. That’s right, folks, sellers are winning this round. 🏆

But wait, there’s more — the Open Interest has dropped by 23%! Which means traders are tapping out, closing positions, and realizing they might’ve made a bad call. 😅

AMBCrypto also found that the long traders? Yeah, they’re crying into their coffee mugs. In the past 24 hours, $8.97 million worth of liquidations happened, and $7.32 million of that was from longs. Oops. 🙃

With all this bearishness, the market is getting spooked, and that’s just fueling more sell-offs. PEPE’s sad little journey continues. 📉

PEPE Sellers Are Not Letting Go

As if the sellers weren’t already having a good time, let’s talk about Funding Rates. The data shows sellers are paying premiums, signaling the market is skewed in their favor. Talk about kicking someone when they’re down! 😈

At the moment, the Funding Rate is at a whopping -0.0078%, one of the highest we’ve seen in ages. Who’s laughing now? 😎

If this selling pressure keeps up — and it probably will — PEPE’s already tragic trajectory could head even lower. Stay tuned, folks. 🍿

Buyers Are Picking Up the Pieces, But Is It Enough?

Despite the looming doom, some brave souls are still in the game. Buyers are actively accumulating PEPE, with over $1.59 million purchased in the past 24 hours alone. Gutsy move, right? 😳

And in the past week? Those same fearless buyers scooped up $69.3 million worth of PEPE. You can almost hear them chanting, “It’s a bargain!” 😆

To add a cherry on top, the Bollinger Bands indicate that PEPE is oversold. Yep, it’s crossing the red line, which usually signals a rally. But… don’t get your hopes up just yet. ⬇️

While things look oversold, the selling pressure is still here, and the chance of a drop to $0.000008777 is looming. But hey, who’s counting? Probably not PEPE’s investors. 😬

So while it’s not guaranteed, don’t be shocked if the downward spiral continues. Hold onto your hats! 🎩

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2025-05-31 23:06