🚨 Long squeeze alert: Brace for a potential 30% crash in PEPE cryptocurrency! 📉
The meme coin frenzy is back, but signs suggest PEPE might be overvalued. Increased open interest, high funding rates, and potential liquidations point to a looming long squeeze.
PEPE's $736.69M open interest is hefty, making up 11% of its $6.39B market cap, even surpassing XRP's interest. Despite a 37.82% drop in 24-hour volume, PEPE's open interest is up by 8.85%.
With long-position traders paying a hefty 52.66% APR to short-sellers, a long squeeze is looming. A potential liquidation target of $0.0000107 per token suggests a 30% drop from current levels.
However, if significant capital continues flowing in, PEPE's upward momentum may persist. 📈💰
Stay cautious! Crypto markets are volatile. Invest wisely. 📉💰
[Disclaimer: Not investment advice. The content is designed to keep you informed and knowledgeable about the dynamic crypto landscape.]