PEPE's current situation is a bit awkward. The bulls hold too many chips, and their biggest concern is a waterfall—resulting in significant losses if that happens. Therefore, the market makers need momentum and need to rally retail investors to go long together. The key is to keep the price pinned at a high level, making everyone believe there is still room for growth. The problem is, what faith can an air coin have? It has already risen so much, and most retail investors are now watching cautiously, while the bears are quietly accumulating ammunition. The future market trend, to put it simply, depends on who has more chips and who has greater determination.