$PEPE teeters on edge of 10% drop

The PEPE token has continued to struggle with a weak risk appetite in the broader cryptocurrency market. Despite some intraday recovery, $PEPE remains vulnerable to another downturn.

A decisive break below the critical support level of $0.00000255 could expose the token to losses of more than 10%. This is according to derivatives indicators that present a mixed picture.

Declining Open Interest signals reduced participation in $PEPE, while a positive funding rate suggests some traders are rebuilding bullish positions. However, the imbalance indicates that the recent price volatility primarily forced leveraged bullish positions out of the market.