Pepe Coin Price at Risk as Funding Rate Flips Negative
Pepe (PEPE), the second-largest Ethereum (ETH) meme coin, was trading at $0.0000100095 on Saturday, Aug. 30, which is 33% below its highest level in June.
Summary
- Pepe price has formed a death cross pattern on the daily chart.
- The weighted funding rate has turned negative.
- Technical analysis signals a deeper crash is coming.
Market Conditions
CoinGlass data indicates that Pepe may be at risk as liquidations surge, the weighted funding rate turns negative, and open interest declines.
Pepe’s funding rate has been in a downward trend in the past few days and has now turned negative, reaching a low of minus 0.011%, its lowest level since Aug. 24. The funding rate is a figure that examines the fee that traders in the futures market pay to ensure the price remains close to the one in the spot market. A negative funding rate suggests that these investors expect the future price to be lower than today’s price.
Pepe’s futures open interest has also been declining. After peaking at over $1 billion in July, it has now slumped to $548 million, its lowest level since June. A falling open interest and spot market volume signals that demand is fading. This decline has coincided with rising liquidations, where exchanges close leveraged trades, leading to increased selling pressure that depresses the price.
Nansen data shows that smart money and whale investors are no longer buying. Smart money holdings have plunged by 23% in the last 30 days, while whale holdings have remained flat.
Technical Analysis
The daily chart indicates that the Pepe token price has remained within a tight range in recent days. It has crashed below the critical support at $0.0000098, invalidating the forming double-bottom pattern. Pepe price has also dropped below the lower side of the symmetrical triangle pattern and formed a death cross pattern, as the 50-day and 200-day moving averages have crossed each other.
Thus, the token is likely to continue falling, with sellers targeting the key support level at $0.0000082, its lowest point since July 22.
Read more: Pi Coin price prediction: Can Pi Coin moon past $0.35 after mainnet launch?
Comments (19)
BILYAMINU Abdullahi
21:07 - 31/08/2025
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11:07 - 31/08/2025
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thankgoduwalaka@gmail.com
11:07 - 31/08/2025
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Augustine Chukwuebuka
22:37 - 30/08/2025
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Bilyaminu
20:53 - 30/08/2025
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