Meme coin prices are falling – will PEPE recover first or decline further?

PEPE Faces Critical Juncture

PEPE’s recent market pullback has jeopardized a seven-month breakout pattern, placing the coin at a pivotal point for future price action. The coin now rests at a crucial level where the subsequent move could trigger a further correction or present a buying opportunity. Whale holders have increased their PEPE holdings significantly, signaling a bullish outlook despite current market uncertainty.

Market Sentiment and Potential Bounce

Short-term speculative demand is decreasing, reflected in a drop in open interest. However, traders are increasingly re-establishing long positions, indicated by a sharp rise in the funding rate. This suggests a belief in a potential bounce, although momentum indicators currently favor sellers.

New Token Opportunity: PepeNode

PepeNode offers a "mine-to-earn" model, allowing users to earn rewards by building virtual rigs and collecting nodes. This novel approach eliminates some of the guesswork associated with meme coin investment. The token’s deflationary mechanism, where 70% of spending is burned, aims to increase long-term value. The presale has already reached over $1.7 million, and early stakers are earning substantial returns.