PEPE: meme resilience If ADA represents patience, PEPE embodies velocity. Launched in 2023 with little more than a meme and a name, PEPE quickly climbed into the top 50 cryptocurrencies by market cap. Despite wild volatility, it remains one of the most liquid meme coins, with trading pairs active across every major exchange.
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PEPE has a strong community consensus, with consistent buyers adding positions during pullbacks, indicating it's not a worthless coin. However, as a non-mainstream coin, it can't enjoy BTC and ETH's capital spillover effects, with new investment data remaining flat. During its previous high, it saw massive new investor inflow driven by sentiment. Recent pullback shows slightly improved new investor data, but still far from its peak. Long-time holders' persistence provides patience for short-term investors. Technically, PEPE's 1,000 support is the daily-level converging large triangle's lower bound, but this downward move might not hold, as BTC hasn't yet shown volume-based stabilization and has broken through the upward channel support. If BTC pulls back to 112,000, PEPE's support may also be breached.
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According to TraderT, on August 6th (local time), the US Bitcoin spot ETF saw a net inflow of $91.52 million (approximately 126.6 billion won). This marks a conversion from net outflow to net inflow after 5 trading days. The net inflows were: $41.90 million to BlackRock IBIT, $10.06 million to Fidelity FBTC, $26.35 million to Bitwise BITB, $4.08 million to VanEck HODL, and $14.50 million to Grayscale GBTC. In contrast, ARK Invest ARKB experienced a net outflow of $5.37 million.
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