Perpetual Protocol PERP
PERP cycle analysis · chart, confirmed lows and fundamentals
Red List Phoenix · weekly · score 50 mixed
91.3% below its 365-day high of $0.2328 (2025-10-27), +27.0% off the 365-day low. Snapshot 2026-10-21 UTC.
On the Red List.
91% below its rolling 365-day high, 359 days after the high.
Phoenix weekly: stopped falling by the rules, +26.2% above the Aug 2026 trough. Details below.
Since the previous scan.
Tier, recovering badge and Phoenix state are unchanged between these two observations.
Comparing 2026-10-20 with 2026-10-21 UTC. Classification, not price returns.
Recorded timeline →Where it sits in each cycle
a swing low confirms only when a later bar takes out the low bar's highMonthly
- Last bars
- 2Dr 2Ug 3g 1g 1r
- Confirmed low
- $0.0176 · 2026-06-30
- Position
- 4 of median 5 (max 8)
- Current low
- $0.0160 · unconfirmed
- Confirms above
- $0.0289
- Cycle-low confidence
- 44% · in band
- Confirmed lows
- 10
Weekly
- Last bars
- 2Ug 2Dr 2Ur 2Dr 2Dg
- Confirmed low
- $0.0189 · 2026-10-04
- Position
- 3 of median 5 (max 15)
- Current low
- $0.0194 · unconfirmed
- Confirms above
- $0.0205
- Cycle-low confidence
- 27% · in band
- Confirmed lows
- 42
Daily
- Last bars
- 1g 2Dr 2Dr 2Dg 2Ug
- Confirmed low
- $0.0194 · 2026-10-20 (daily)
- Position
- 1 of median 5.0 (max 29)
- Current low
- $0.0194 · confirmed
- Cycle-low confidence
- 47% · in band
- Confirmed lows
- 327
The full read, in sentences
- Monthly: forming bar is a red inside bar. Last confirmed swing low 0.0176 (Jun 2026), month 4 of a cycle that has typically run 5. Current low 0.016 is unconfirmed — it confirms above 0.0289. Cycle-low confidence 44%.
- Weekly: forming bar is a green 2-Down. Last confirmed swing low 0.0189 (Oct 2026), week 3 of a cycle that has typically run 5. Current low 0.0194 is unconfirmed — it confirms above 0.0205. Cycle-low confidence 27%.
- Daily: bar is a green 2-Up. Last confirmed swing low 0.0194 (2026-10-20), day 1 of a cycle that has typically run 5. Cycle-low confidence 47%.
- Red List: 91% below the 2025-10-27 high; +27% off the 365-day low.
- Phoenix: 99% decline over 31 months, weekly swing low confirmed (next-bar), now +26% above the trough; first weekly pullback after the low confirmed 2026-10-11 (trigger 0.0226).
- Gauges: Mayer multiple 0.94 (cheap); -96% vs the 200-week average; -100% from the all-time high.
Has Perpetual Protocol bottomed?
A confirmed swing low is evidence of a price pattern, not proof of a final market bottom. Here is what the PERP snapshot records on 2026-10-21 UTC:
Monthly: the last confirmed swing low is $0.0176 from 2026-06-30. A newer candidate at $0.0160 is unconfirmed; its confirmation level is above $0.0289, provided the candidate low is not undercut first. The latest monthly bar is still forming.
Weekly: the last confirmed swing low is $0.0189 from 2026-10-04. A newer candidate at $0.0194 is unconfirmed; its confirmation level is above $0.0205, provided the candidate low is not undercut first. The latest weekly bar is still forming.
Daily: the last confirmed swing low is $0.0194 from 2026-10-20. The current candidate is marked confirmed.
How bottom confirmation works. Cycle-low confidence is a heuristic score, not a calibrated probability of a profitable trade.
How far is Perpetual Protocol below its high?
The Coinbase price snapshot is 91.3% below its rolling 365-day high of $0.2328 from 2025-10-27. Separately, CoinGecko reports -99.9% relative to its all-time high of $24.40 in the fundamentals snapshot pulled 2026-10-21.
Different sources and observation times can produce different drawdowns. Compare crypto drawdowns and reference highs.
The recorded history
scan observations, not exact transition timesFirst observed 2026-09-19. 33 observations; absence from a captured scan is unmatched, never recovery.
- First observed: Red List · Phoenix weekly
Phoenix
stopped falling, by the rules- Peak
- $2.25 · Jan 2024
- Trough
- $0.0160 · Aug 2026
- Decline
- -99.3% over 31 months
- Above trough
- +26.2%
- Monthly
- not yet · trigger $0.0289
- Weekly
- confirmed (next-bar)
- False bottom
- $0.1883 · Jun 2025 (2 higher highs, then undercut)
- Entry
- pullback #1 low $0.0189 confirmed 2026-10-11 · trigger $0.0226
| decline | 30 |
| confirmation | 10 |
| earliness | 0 |
| stale | 0 |
| false bottom | 10 |
| bluechip | 0 |
Fundamentals
| Liquidity (24h volume / market cap) can you get out | 0.86 % | 1.2 / 15 |
| Supply overhang (FDV / market cap) unlocked supply waiting to sell | 1.14 x | 14.0 / 15 |
| Size (market-cap rank) survivorship | 2142 # | 0 / 15 |
| TVL backing (market cap / TVL) capital parked in it (DefiLlama) | 6.31 x | 6.2 / 15 |
| Age on Coinbase survived a cycle | 5.0 yrs | 10.0 / 10 |
| usage | could not look — no source data | |
| momentum | could not look — no source data | |
5 of 7 measurable; score renormalized over what was measurable.
- Market cap
- $2.8M
- Fully diluted
- $3.1M
- 24h volume
- $23.6K
- Circulating
- 132,147,094 of 150,000,000 max
- All-time high
- $24.40 · 2021-08-30 (-99.9%)
- TVL
- $436.4K (protocol)
- Fees 30d
- $0
- Revenue 30d
- $0
- Fees 1y
- $2.2K
- Mayer multiple
- 0.939 · cheap
- vs 200-week avg
- -95.9%
- Pi cycle
- 0.252
- On Coinbase since
- 2021-10-19 (1829 bars)
- CoinGecko id
- perpetual-protocol
Continue your cycle research
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