PEPE's recent performance is indeed somewhat hard to read. As a top meme coin on the Ethereum chain, this market move has even exceeded the strength of many mainstream coins, and the steady gains once made people think it was a true blue-chip. But looking carefully at the chart, problems are starting to emerge.

The 0.0072 level shows obvious resistance, with price oscillating repeatedly around 0.007 for some time, and trading volume gradually shrinking. What does this high-level blunting combined with insufficient volume usually mean?

Large capital is gradually repositioning its chips. Although PEPE's narrative is indeed more solid compared to other meme coins, at this height, the pressure for whales to cash out is also not small. Once the main players start moving, coupled with a potential pullback in the broader market, breaking below 0.006 or even lower in the short term is quite normal. From a technical perspective, the distribution signal from this wave is already very clear.

However, it must be acknowledged that the current situation still has room for reversal, but from a risk-reward perspective, shorting opportunities at high levels are more suitable than chasing highs. If you really decide to make a move, adjust your mindset well and don't let floating losses affect your judgment — this is where shorting at high levels most easily backfires.