The reasonable value gap (white) left by #PEPEUSDT during the rise to $0.000013 does little to stop the bearish pressure. The $0.00008 and $0.0000678 levels are the next support levels, the latter based on the 78.6% retracement of the rise in May.

MACD fell below the neutral zero line, but CMF is only -0.02. The daily time frame price chart outlines a bearish bias, but it is also possible to form a range between $0.000008 and $0.000013.

The spread around the price also highlights the area around $0.000008 as support.

Judging from the 30-day changes in the holding balances of various PEPE holding wallets, whales have been diversifying their holdings, and only a few holders below 10 million have increased their holdings of PEPE in the past month.

The rest are selling tokens, and only the group of 10 trillion and above has been accumulating. This highlights the selling pressure in the past 30 days and warns of more losses to come.

The 3-month liquidation heat map also gives a similar warning. The liquidity pool of $0.000009 to $0.00000945 is not enough to reverse the downward trend.

The next area to watch is $0.00000677 - $0.0000074. This is consistent with the Fibonacci level of $0.00000678, reinforcing the bearish outlook. #meme币 $PEPE $MEME

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