Pepe Coin Prices Plummet As Funding rates Turn Bearish
Pepe Coin’s value is dipping, hinting at a possible deeper drop soon. The coin price recently slid too $0.0000100095, dropping significantly from its peak in June.
According to CoinGlass, negative signs loom large. The liquidity levels are shrinking, open interest is waning, and清算数量激增。更重要的是，加权资金利率已经变为负值。
- The funding rate reflects contrasting investor sentiments – positive for spot price standing but negative indicates expectations of price falls.
- pepe’s funding rate has swung to -0.011%, the lowest as Aug. 24th.
Meanwhile, futures’ open interest for Pepe has plunged, sliding down to $548 million—a fall from its July high of over $1 billion.
Analysts note an ominous “death cross” emerging on Pepe’s daily chart—an indicator pointing towards prolonged price declines. As futures roll out, open interest drops, along with spot market transactions reducing revenue.
To add to the woes, Nansen data mirrors the same negative sentiment building up—the so-called smart money dropped by 23% in the last month with whale players holding steady.
By all metrics, Pepe Coin seems tilted towards further devaluation, possibly sinking to $0.0000082—the lowest since July 22nd unless a recovery bounce comes in time.
