@radianthorizonx
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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