#fartcoin $PEPE

fartcoin and pepe, at a small scale, pepe shows a more noticeable rebound in the 12-hour and 8-hour data, but basically it just follows the market rebound more or less with little impact from the volume. Overall, in the 24-hour and above time frame, pepe is clearly dominated by a significant increase in short positions, while fartcoin is mainly seeing a lot of long positions closed.

Considering the current forms and positions of the two coins, these two memes are still primarily following the market rebound, and there won't be too strong independent performance in the short term. However, looking at the data, pepe might face a more intense wash later since in the 24-hour and above time frame, it has not only closed many long positions but also opened a lot of shorts. You can also refer to the moodeng pnut I posted from late May to early June, which basically represents my overall pessimistic view on memes recently.

At the same time, I also told my friends in the community that the overall trend in June is still not optimistic. Interested friends can also check the post I made when Ether was at 2850, where I wrote about my reasons for being pessimistic. Currently, I just feel that the market structure is quite difficult to break down directly, and considering that many people chased the shorts after the negative news from the war last Friday, so for the next few days, we might not have shorts, and if there’s a dip, we can try to play for a rebound on the long side, while waiting for a rebound to short after the market structure tops.