CandleFocus Pepe Price Forecast: Recent dips liquidate over $20 million in leverage trades
2025-02-04
Author: Content Editor
The price of Pepe (PEPE), a frog-based meme coin, has fallen more than 23% in the previous week, leading to over $20 million in liquidations in two days. On-chain metrics like the funding rates and the Network Realized Profit/Loss (NPL) indicator indicate weakness and suggest a further decline in the price. The funding rates are negative, indicating bearish sentiment, and the NPL indicator shows that holders are realizing losses and increasing selling pressure. If Pepe closes below $0.000010 on a daily basis, it could extend the decline by nearly 40% and retest its previous low. The Relative Strength Index (RSI) also points towards strong bearish momentum.
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