PEPE bides its time near key support: Can it reverse the losses since May?

Pepe has a bearish market structure and is likely to retest recent lows once more.

The eagerness in the futures market suggested a recovery, which once initiated, could be rapid.

Pepe [PEPE] was trading within a short-term range and saw a sell-off from the highs. One of the latest developments around the memecoin was the deposit of PEPE tokens worth $7.8 million into the Binance exchange. This pointed toward a potential spike in selling pressure.

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