Pepe Coin (PEPE) crashes below $0.0000098 support as funding rates turn negative, open interest drops, and a death cross forms on the daily chart — pointing to further downside.
Key Takeaways
Pepe price forms a death cross on the daily chart.
Futures open interest plunges, pointing to fading demand.
Pepe Funding Rate Turns Negative
As of Saturday, PEPE was trading near $0.0000100, down over 33% from its June highs. Data from CoinGlass shows Pepe’s weighted funding rate has turned negative for the first time since Aug. 24, dropping to -0.011%.
A negative funding rate typically signals that futures traders expect further downside, as they’re willing to pay fees to short the token.
At the same time, futures open interest has collapsed from above $1 billion in July to just $548 million, its lowest since June. Combined with declining spot volumes, this suggests waning investor appetite.
Adding to the bearish pressure, liquidations have accelerated — forcing leveraged traders out of positions and fueling more downside momentum.
Smart Money Pullback
Blockchain analytics from Nansen reveal that “smart money” wallets cut PEPE holdings by 23% in the last 30 days, while whale positions have remained stagnant. This lack of accumulation from deep-pocketed investors further clouds near-term price prospects.
Technical Analysis: Death Cross Confirmed
On the daily chart, PEPE has broken below the $0.0000098 support, invalidating a possible double-bottom reversal. The token also slipped under a key symmetrical triangle pattern, confirming bearish continuation.
Most notably, the 50-day moving average has crossed below the 200-day MA, forming a death cross — a classic technical signal for extended downtrends.
If bearish momentum holds, traders are watching the next key support at $0.0000082, last seen on July 22.
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Pepe Coin Price Tanks Below Support as Death Cross Signals Deeper Decline - Coinedict
Pepe Coin (PEPE) crashes below $0.0000098 support as funding rates turn negative, open interest drops, and a death cross forms on the daily chart — pointing to further downside.
Key Takeaways
Pepe Funding Rate Turns Negative
As of Saturday, PEPE was trading near $0.0000100, down over 33% from its June highs. Data from CoinGlass shows Pepe’s weighted funding rate has turned negative for the first time since Aug. 24, dropping to -0.011%.
A negative funding rate typically signals that futures traders expect further downside, as they’re willing to pay fees to short the token.
At the same time, futures open interest has collapsed from above $1 billion in July to just $548 million, its lowest since June. Combined with declining spot volumes, this suggests waning investor appetite.
Adding to the bearish pressure, liquidations have accelerated — forcing leveraged traders out of positions and fueling more downside momentum.
Smart Money Pullback
Blockchain analytics from Nansen reveal that “smart money” wallets cut PEPE holdings by 23% in the last 30 days, while whale positions have remained stagnant. This lack of accumulation from deep-pocketed investors further clouds near-term price prospects.
Technical Analysis: Death Cross Confirmed
On the daily chart, PEPE has broken below the $0.0000098 support, invalidating a possible double-bottom reversal. The token also slipped under a key symmetrical triangle pattern, confirming bearish continuation.
Most notably, the 50-day moving average has crossed below the 200-day MA, forming a death cross — a classic technical signal for extended downtrends.
If bearish momentum holds, traders are watching the next key support at $0.0000082, last seen on July 22.