PEPE's recent performance is indeed a bit hard to read. As the top meme coin on the Ethereum chain, the momentum of this wave has even exceeded many mainstream cryptocurrencies, 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 the price oscillating repeatedly around 0.007 for some time, and trading volume gradually declining. What does this kind of high-level blunting combined with insufficient volume usually mean?

Large capital is gradually converting positions. While PEPE's narrative does have more credibility compared to other meme coins, at this height, the pressure for whales to cash out is also considerable. Once the main force starts to move, and if the broader market experiences a pullback, a short-term break below 0.006 or even lower is actually quite normal. From a technical perspective, the distribution signals from this wave are already very clear.

However, it must be acknowledged that there is still some possibility of reversal in the current situation, 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 is most prone to failure.