Price Action and On-Chain Data Indicate Potential Range Formation

价格走势和链上数据表明潜在范围形成

Price action suggests the possibility of a range formation, with $0.000008 serving as a low point. On-chain data and liquidation levels indicate a deeper price drop is likely.

价格走势表明可能形成区间，以 0.000008 美元为低点。链上数据和清算水平表明价格可能会进一步下跌。

Pepe (PEPE) Breaks Support Levels

佩佩（PEPE）突破支撑位

PEPE failed to maintain the fair value gap as a support zone, crashing through it and reaching lows of $0.000008. This level previously provided support during July's losses, offering hope for a similar bounce.

PEPE 未能将公允价值缺口维持为支撑区域，跌破该缺口并触及 0.000008 美元的低点。该水平此前在 7 月下跌期间提供了支撑，为类似反弹带来了希望。

Technical Indicators Signal Bearish Bias

技术指标显示看跌倾向

The MACD fell below zero, while the CMF remained at -0.02. The daily timeframe price chart shows a bearish bias but also suggests a potential range formation between $0.000008 and $0.000013.

MACD 跌破零，而 CMF 维持在-0.02。每日时间框架价格图表显示出看跌倾向，但也表明潜在的区间形成于 0.000008 美元至 0.000013 美元之间。

Selling Pressure from Whales

来自鲸鱼的抛售压力

Whales have been distributing their PEPE holdings, as indicated by the 30-day change in balance. Smaller holders up to 10 million PEPE have added to their positions, while others have sold off, including the 10 trillion and above cohort.

正如 30 天余额变化所示，鲸鱼一直在分配其持有的 PEPE。规模不超过 1000 万 PEPE 的小型持有者已增持头寸，而其他持有者则纷纷抛售，其中包括 10 万亿及以上的人群。

Liquidation Heatmap Confirms Bearish Expectations

清算热图证实了看跌预期

The 3-month liquidation heatmap reveals a liquidity pool at $0.000009-$0.00000945 that is insufficient to reverse the downtrend. The next region of interest is $0.00000677-$0.0000074, which aligns with the Fibonacci level at $0.00000678, reinforcing bearish expectations.

3 个月清算热图显示，流动性池位于 0.000009 美元至 0.00000945 美元之间，不足以扭转下降趋势。下一个关注区域是 0.00000677-0.0000074 美元，与 0.00000678 美元的斐波那契水平一致，强化了看跌预期。