The Pepe Coin is now trending on the Memecoin Market with a stunning 30% price climb in just 24 hours. Pepe caught Dogecoin in the sunny trading volume, which became the most traded memecoin and the world's most traded cryptocurrency (Stablecoins excluded).
Why is Pepe so bad?
The Surge's Pepe Coin price is that -fuel through a combination of whale accumulation, technical breakout, and increasing open interest in the derivatives market.
The accumulation of whale
According to Lookonchain dataLast week, a well -known crypto whale is actively buying Pepe in the open market. On April 30, this whale – holding $ 147 million in crypto assets—Withdraws 1.5 trillion Pepe from Binanceand earlier today, they added another 500 billion Pepe tokensbringing their total handling to 2 trillion tokens. This accumulation, which covers nearly $ 4.36 millionsignal of strong long-term confidence in Pepe.
DERIVATIVES MARKET HEATING UP
According to data from coinglass, Businessman's interest in Pepe is rising rapidly. The amount of money locked in Pepe futures – known as open interest – has climbed the 6.6%, which reaches more than $ 434 million. This means that more merchants will estimate Pepe's next move.
In the past 24 hours only, around The $ 1.57 million worth of trade is liquidand $ 1.45 million derived from people who bet against Pepe. In simple terms, many merchants expect to fall the price caught – a classic sign of a Short squeeze.
What's next for Pepe Price?
According to the analystPepe recently exploded in a Descending expansion of wedge Pattern – a bullish signal – proves a moving momentum with a strong -day -day nearby. It can lead to a 120% to 140% midterm rally. If the price of Market Remian Bullish and Pepe price keep the uptrend we'll see 1,200%+ benefitswith the target price of $ 0.000080 (a 10x from the current levels) within the next bullish twist.
