PEPE

PepeCoin

Long

<ul>
 <li>PEPE breaks below the ascending channel as price struggles near $0.00000447.</li>
 <li>Futures open interest falls 11%, while long liquidations reach $2.63 million.</li>
 <li>Buyers must defend $0.0000044 to prevent further declines toward $0.0000040.</li>
</ul>
<p><a href="https://cryptonewsland.com/pepe-price-tests-support-after-september-rally/" rel="noopener noreferrer nofollow">PepeCoin — PEPE</a>, is experiencing renewed selling pressure after losing a critical technical support level. The meme coin has struggled to maintain momentum following a recent recovery. Derivatives traders have also suffered heavy liquidations as prices continue falling. Meanwhile, whale movements offer mixed signals about investor confidence. PEPE now trades near $0.00000447, leaving buyers with an important challenge. Can bulls defend current support, or will another decline follow?</p>
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<h2 class="wp-block-heading" id="pepe-derivatives-market-shows-growing-bearish-pressure">PEPE Derivatives Market Shows Growing Bearish Pressure</h2>
<p><a href="https://coinmarketcap.com/currencies/pepecoin/" rel="noopener noreferrer">PEPE</a> traded around $0.00000447 on Thursday, November 12, down 1.07%. The token recently traded near $0.0000055 before suffering a sharp correction. CoinGlass data showed approximately 14% losses over 24 hours. Consequently, the market capitalization dropped toward $1.88 billion. Futures traders have also reduced their exposure during the decline. Open interest dropped approximately 11% to $338 million. Meanwhile, liquidations reached $2.63 million within 24 hours.</p>
<p>Long positions accounted for approximately 94% of those liquidations. This suggests bullish traders suffered the greatest losses. Falling open interest alongside <a href="https://cryptonewsland.com/pepe-price-outlook-faces-key-demand-and-whale-tests/" rel="noopener noreferrer nofollow">declining prices </a>signals widespread position closures. Futures volume reached approximately $600 million, compared with $187 million. This highlights the significant influence of derivatives trading on PEPE. Negative funding rates also indicate growing bearish positioning. However, crowded short positions could create opportunities for sudden price squeezes.</p>
<p><a href="https://whale-alerts.net/coin/pepe-token" rel="noopener noreferrer nofollow">PEPE Whale activity</a> presents another mixed picture. Deep Blue Alpha tracked 47 wallets withdrawing $34.7 million over seven days. Those wallets deposited $17.8 million during the same period. Consequently, net withdrawals reached approximately $16.9 million. However, their latest 24-hour activity showed a different trend. The wallets deposited $8.6 million and withdrew $4.6 million. This produced approximately $4 million in net exchange inflows.</p>
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<h2 class="wp-block-heading" id="pepe-price-analysis-can-buyers-defend-0-0000044">PEPE Price Analysis: Can Buyers Defend $0.0000044?</h2>
<p>The daily chart shows PEPE breaking below an ascending channel. Buyers previously defended the channel throughout September and October. Losing that structure now weakens the short-term bullish outlook. The immediate support zone stands between $0.0000044 and $0.0000045. Holding this area could trigger a recovery toward $0.0000047.</p>
<p>A move above $0.0000048 would improve the technical outlook. Further resistance sits around $0.0000050 and $0.0000053 to $0.0000055. Conversely, a daily close below $0.0000044 could accelerate losses. The next downside target lies between $0.0000040 and $0.0000042. Another breakdown could expose the $0.0000037 to $0.0000038 region.</p>
<p>Momentum indicators currently favor sellers. RSI stands at 46.25, below the neutral 50 threshold. Meanwhile, MACD maintains a bearish crossover. A bullish MACD crossover and RSI recovery above 50 could signal improvement. Until then, PEPE needs stronger buying pressure above $0.0000048. For now, defending $0.0000044 remains the immediate priority.</p>

PEPE Rally Loses Steam as Price Breaks Below Ascending Channel

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