{"id":147763,"date":"2025-05-31T21:17:09","date_gmt":"2025-05-31T21:17:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/147763\/"},"modified":"2025-05-31T21:17:09","modified_gmt":"2025-05-31T21:17:09","slug":"pepe-drops-17-in-24-hours-why-more-pain-could-follow","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/147763\/","title":{"rendered":"PEPE drops 17% in 24 hours: Why more pain could follow"},"content":{"rendered":"<ul class=\"ul1\">\n<li class=\"li1\">PEPE\u2019s selling volume of has risen significantly, and Open Interest continues to fall.<\/li>\n<li class=\"li1\">There are no nearby support to provide a rebound, and PEPE hints at a further potential drop.<\/li>\n<\/ul>\n<p class=\"p1\"><a href=\"https:\/\/ambcrypto.com\/predictions\/pepe-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Pepe [PEPE]<\/a> has recorded a major market loss, shedding 17% in the past 24 hours. Interestingly, the memecoin\u2019s performance remained bullish over the past month, with an accrued gain of 25%.<\/p>\n<p class=\"p1\">Currently, market sentiment suggests that the asset could record an even further price decline as the selling force continues to heighten.<\/p>\n<p>Sellers are gaining strength in the market<\/p>\n<p class=\"p1\">The recent decline of PEPE stems from the intensifying selling pressure that\u2019s brewing.<\/p>\n<p class=\"p1\">Comparing the selling to buying volume, analysis shows that 50.77% of the overall derivative market volume comes from sellers.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/05\/A98F97DD-6B71-48A3-9BD6-B478E13382B2.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-497140\" class=\"wp-image-497140 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"1365\" height=\"392\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/05\/A98F97DD-6B71-48A3-9BD6-B478E13382B2.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-497140\" class=\"wp-caption-text\">Source: CoinGlass<\/p>\n<p class=\"p1\">That\u2019s not all \u2014 there\u2019s been a 23% decline in Open Interest, which suggests that as selling volume increases, traders are losing and closing positions. <\/p>\n<p class=\"p1\">AMBCrypto found that long traders have been on the losing end, especially in the past 24 hours.<\/p>\n<p class=\"p1\">During this period, the market recorded a total liquidation of $8.97 million, with longs accounting for $7.32 million of the losses.<\/p>\n<p class=\"p1\">This significant share of losses shows that the market is decidedly bearish and is moving against traders with bullish bets.<\/p>\n<p class=\"p1\">This effect has spread fear across the market, leading to more sell-offs of PEPE and causing the asset to drop even further.<\/p>\n<p>PEPE sellers are doubling down<\/p>\n<p class=\"p1\">Funding Rate data, which indicates which market cohort is paying a premium to maintain positions, shows that sellers are paying.<\/p>\n<p class=\"p1\">When sellers pay a premium, it indicates that the market is moving in their direction, and the fee helps maintain the price difference between the spot and Futures markets.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/05\/0292948F-63E7-4B94-B3A3-BB91E5B2F420.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-497138\" class=\"wp-image-497138 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"1365\" height=\"424\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/05\/0292948F-63E7-4B94-B3A3-BB91E5B2F420.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-497138\" class=\"wp-caption-text\">Source: CoinGlass<\/p>\n<p class=\"p1\">At the time of writing, the Funding Rate stood at -0.0078%, one of the highest recorded from sellers in a while.<\/p>\n<p class=\"p1\">If this downward pressure continues \u2014 along with declining OI and higher selling volume \u2014 PEPE has a high potential to drop even lower.<\/p>\n<p>Buyers accumulate, but the threat remains \u2014 Here\u2019s why<\/p>\n<p class=\"p1\">Amid all this, buyers remain active in the market and continue to accumulate the asset despite the drop. Spot market analysis shows that these investors purchased over $1.59 million worth of PEPE in the past 24 hours.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/05\/9A2CF174-2B36-4A31-A72D-D333C412FD12.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-497139\" class=\"wp-image-497139 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"1365\" height=\"420\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/05\/9A2CF174-2B36-4A31-A72D-D333C412FD12.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-497139\" class=\"wp-caption-text\">Source: CoinGlass<\/p>\n<p class=\"p1\">Interestingly, in the past week, investors scooped up a total of $69.3 million worth of PEPE, contributing to the bullish outlook.<\/p>\n<p class=\"p1\">An analysis of the Bollinger Bands, which identify overbought or oversold conditions, confirms this sentiment.<\/p>\n<p class=\"p1\">Currently, PEPE has entered the oversold region, crossing below the red line \u2014 a move that has historically marked the beginning of major rallies.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/05\/653551B6-4C29-4430-A3C8-100F1F11FD3C.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-497137\" class=\"wp-image-497137 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"1281\" height=\"616\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/05\/653551B6-4C29-4430-A3C8-100F1F11FD3C.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-497137\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<p class=\"p1\">However, a potential drop still looms, as selling pressure continues to grow. If the decline persists, PEPE could fall to the nearest support level at $0.000008777.<\/p>\n<p class=\"p1\">While the likelihood of a drop to this level remains relatively slim, it cannot be ruled out.<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/sharplinks-1b-ethereum-bet-how-it-can-change-the-game-for-eth\/\" rel=\"prev noopener\" data-wpel-link=\"internal\" target=\"_blank\">Sharplink\u2019s $1B Ethereum bet: How it can change the game for ETH<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"PEPE\u2019s selling volume of has risen significantly, and Open Interest continues to fall. There are no nearby support&hellip;\n","protected":false},"author":2,"featured_media":147764,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-147763","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114604529682705197","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/147763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=147763"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/147763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/147764"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=147763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=147763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=147763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}