Ang mga Bearish Signals ay Nakakatakot sa Mga Mahilig sa PEPE: Nalalapit na ba ang Makabuluhang Pagwawasto sa Presyo?

　　PEPE Active Addresses. Source: Santiment

　　Furthermore, futures market traders behave in the same manner as those evinced by the Open Interest (OI). The OI represents the total number of outstanding derivative contracts, such as futures or options, that have not been settled. It indicates market liquidity and trader interest in a particular asset or instrument.

　　At the moment, PEPEs OI is standing at $76 million, down from $126 million less than 30 days ago.

　　PEPE Open Interest. Source: Coinglass

　　This shows that even derivatives traders expect nothing much from the meme coin, which would trigger a decline.

　　PEPE Price Prediction: Hold Out Hopes

　　Considering the aforementioned factors, the PEPE price is likely on the verge of a decline. This is noticeable on the charts, too, where the cryptocurrency is close to falling through the $0.00000633 support floor.

　　Losing this support would send the meme coin to $0.00000474, marking a 30% correction.

　　PEEP/USDT 1-day chart. Source: TradingView

　　However, the $0.00000633 support level has been tested multiple times in the past. This might keep PEPE from falling through it, effectively invalidating the bearish thesis and enabling recovery to $0.00000826.

　　The post Bearish Signals Spook PEPE Enthusiasts: Is a Significant Price Correction Imminent？ appeared first on BeInCrypto.