Pepe Faces Strong Selling Pressure, but Uptrend Potential of 105%

Pepe 面臨強勁拋售壓力，但上漲潛力高達 105%

Technically, Pepe (PEPE) is facing significant downward pressure amid the ongoing bear market. Despite signs of increased adoption and decreasing exchange balances for this meme token, strong selling and a dominant bearish trend leave uncertainty in the air.

從技術上講，佩佩（PEPE）在持續的熊市中面臨著巨大的下行壓力。儘管有跡象表明這種模因代幣的採用率有所增加且交易餘額有所減少，但強勁的拋售和主導的看跌趨勢仍然存在不確定性。

Selling Pressure

拋售壓力

PEPE's selling pressure is in the context of a broader market decline. Just as today, in August 2024, the overall crypto market was down 2.1% in 24 hours, reflecting a negative sentiment impacting crypto assets. Bitcoin itself dropped 0.9%, despite positive net inflows into the Spot Bitcoin ETF. Pepe's strong correlation with Ethereum, which had a 2.9% price drop then, has also impacted it adversely.

PEPE 的拋售壓力是在大盤下跌的背景下發生的。就像 2024 年 8 月的今天一樣，整個加密貨幣市場在 24 小時內下跌了 2.1%，反映出影響加密資產的負面情緒。儘管現貨比特幣 ETF 出現淨流入，但比特幣本身仍下跌了 0.9%。 Pepe 與以太坊的強烈相關性（當時以太幣價格下跌了 2.9%）也對其產生了不利影響。

Exchange Outflows and Price Disconnect

外匯流出和價格脫節

On August 15, 2024, PEPE's exchange reserves decreased by 1.44 trillion tokens, worth around $10.89 million. Theoretically, this is often positive, indicating investors holding onto the asset for the medium to long term. However, despite the outflows, PEPE's price fell 4% within 24 hours, trading at $0.00000751. This highlights a disconnect between exchange outflow and price movement, potentially due to investors moving their PEPE tokens to other exchanges or decentralized exchanges for arbitrage opportunities.

2024年8月15日，PEPE的外匯存底減少了1.44兆代幣，價值約1,089萬美元。從理論上講，這通常是積極的，表明投資者中長期持有該資產。然而，儘管資金流出，PEPE 的價格在 24 小時內下跌了 4%，交易價格為 0.00000751 美元。這凸顯了交易所流出與價格變動之間的脫節，這可能是由於投資者將其 PEPE 代幣轉移到其他交易所或去中心化交易所以獲得套利機會。

Open Interest and Funding Rate

未平倉利息和資金費率

Data from Coinglass shows a decline in open interest (OI) and Cumulative Volume Delta (CVD) for PEPE. This indicates traders closing their long positions, potentially signaling potential losses as the funding rate (FR) is currently negative. A negative FR implies a lower price for PEPE in futures markets than in spot markets, leading to an increase in short positions and a possible downward spiral in price.

Coinglass 的數據顯示 PEPE 的未平倉合約 (OI) 和累積交易量增量 (CVD) 有所下降。這表明交易者平倉了多頭頭寸，可能預示著由於資金利率（FR）目前為負值而可能造成損失。負 FR 意味著期貨市場上的 PEPE 價格低於現貨市場上的價格，導致空頭部位增加，價格可能出現螺旋式下降。

Adoption and Upside Potential

採用率和上升潛力

Despite the price decline, Pepe's adoption remains solid. Data from CoinCarp suggests an average of around 430 new holders daily over the past 30 days.

儘管價格下降，佩佩的採用率仍然很高。 CoinCarp 的數據顯示，過去 30 天平均每天新增約 430 名新持有者。

However, technical analysis points to strong selling pressure. A recent bearish breakout from a symmetrical pattern, marked by a large red candlestick, confirms the continuation of the downtrend.

然而，技術分析顯示拋售壓力強勁。最近從對稱形態的看跌突破（以大紅色燭台為標誌）證實了下降趨勢的延續。

"PEPE price will likely find support at around $0.00000680-$0.00000700, which is the previous swing low. While selling pressure is strong, a potential bullish double-bottom reversal pattern could play out if the price bounces from these levels, targeting an upside move for PEPE of over 105% towards $0.00001280," said the analysts.

「PEPE 價格可能會在0.00000680 美元至0.00000700 美元左右找到支撐，這是之前的波動低點。雖然拋售壓力很大，但如果價格從這些水平反彈，潛在的看漲雙底反轉模式可能會出現，目標是向上移動PEPE 超過 105%，接近 0.00001280 美元，」分析師表示。

Bollinger Bands and Chaikin Money Flow (CMF) also suggest an oversold condition with money flowing out of the asset, supporting the bearish outlook. However, if PEPE can find strong support and bounce from $0.00000650, a significant bullish reversal could be possible.

布林線和柴金資金流向（CMF）也顯示資金流出該資產的超賣狀況，支撐了看跌前景。然而，如果 PEPE 能夠找到強勁支撐並從 0.00000650 美元反彈，則可能會出現重大看漲逆轉。

Conclusion

結論

PEPE's current market position is complex. The continued price decline and strong selling indicate ongoing challenges amid the bearish market. However, increased adoption and potential technical reversals offer hope for a possible change in direction should market conditions become more favorable.

PEPE 目前的市場地位很複雜。價格持續下跌和強勁拋售表明熊市中持續存在挑戰。然而，如果市場條件變得更加有利，採用率的增加和潛在的技術逆轉為方向可能改變帶來了希望。

For now, pressure on PEPE could persist, but the potential for recovery is there if the right conditions align. Yesterday's analysis by NewsBTC also supported this view, suggesting a risk of further declines if PEPE fails to break above a key resistance level. However, a strong bounce could lead to a significant retracement towards previous highs.

目前，PEPE 面臨的壓力可能會持續存在，但如果條件合適，復甦的潛力是存在的。 NewsBTC 昨天的分析也支持了這一觀點，顯示如果 PEPE 未能突破關鍵阻力位，則有進一步下跌的風險。然而，強勁反彈可能導致大幅回撤至前期高點。