$PEPE Current Situation: Silent Collapse is More Suffocating Than a Crash
Core Viewpoint: PEPE is currently in a downward trend, like a deflating balloon slowly losing air. This stagnant market is more exhausting than a sharp decline, with technical indicators collectively flatlining, and the market entering a 'playing dead' phase.
Three Sins of the Desperate Market
Downward Trend Like a Dull Knife Cutting Flesh: From a high of 0.0000177, it has slid down to 0.000015, with 12 consecutive days of losses. A daily drop of 1-2% seems small, but it wears down the bullish sentiment.
Technical Indicators Flatlining: The MACD fast and slow lines are stuck below the zero line, and the RSI is stuck in the 29 oversold zone with no rebound. Last Wednesday, the 3% gain saw a 40% drop in trading volume, seeming like a trap.
On-chain Data Explodes: A large whale transferred $8.5 million worth of PEPE to exchanges this week, yet the price did not break below support, indicating a lack of buyers and a sluggish market.
Market Psychology Has Degraded
PEPE holders are divided into two factions: those who are trapped are playing dead, and on-chain staking volume has risen 37% in two weeks; bottom fishers are at a loss but refuse to cut their losses, waiting for big players to pull the price up. Both create a zombie market where sellers are reluctant to sell and buyers are afraid to enter, leading to thin depth in exchanges, allowing small funds to significantly impact the price.
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