$PEPE It’s on the unusual-movers list, up a little over 2%, with just over $30 million in trading volume.

Honestly, does this thing have any serious narrative? No. A meme is a meme—it’s all about sentiment and capital, and the moment the wind dies down, its true nature is exposed. With a token like this, don’t bother studying the white paper; you could study it all day and still find nothing meaningful.

Why the unusual move? I only see one thing: the price has been hovering around the middle of its range over the past week, volume is about the same as usual, and nobody is really piling in. It’s just a few large orders propping it up for fun.

The bulls’ logic is: it isn’t at a high level, the pullback has lasted long enough, and it’s its turn now. The bears’ logic is: the meme sector as a whole has no heat, and this move is just hot money looking for something to feed on.

My own view is that it’s fine to play with a small position, but you have to be clear about one thing—coins like this can get cut in half so quickly that you won’t even have time to hit sell. Before putting real money in, ask yourself whether you can accept it going to zero.$PEPE