šøš„Is PEPE's 22% Jump a Sign of Long-Term Growth or Quick Earnings?
PEPE's unbalanced balanced combined order book is overflowing with sales orders.
Derivative investors think that PEPE has risen above SHIB and BONK with a volume of $ 58.35 million.
#PEPE is expanding adoption with the instant listing of Bitstamp, as well as LMWR and BLUR.
Memecoin PEPE, written in the popular frog, is attracting the attention of the broader crypto Sundays again with a 7-day gain streak of 22.9%. Overcoming the rising wave of Bitcoin (BTC), #memecoin outperformed the king crypto, which gained 16.8% in value over the same time period.
The latest blockchain data, which previously struggled with liquidity issues, reveals a tremendous increase in the combined order book. PEPE's Derivatives transactions also increased by 115%, reaching $ 58.35 million in Derivatives trading volume in the last 24 hours.
However, the scale between pending purchases and pending sales is changing to the advantage of the bears. Dec. According to crypto research platform COINPAPRIKA, the irregular order book, which exceeded $ 10.15 million in pending sales in the last 24 hours, shows that many PEPE owners are withdrawing cash from the current price December, despite a 180% increase in crypto traders looking to buy PEPE.
While the selling pressure is increasing, some important technical indicators remain positive, it is unclear whether the 11.9% price increase will be enough to soften the blow. To give an example, the Bollinger Bands on the 4-hour PEPE charts are quite extended, which indicates that the PEPE price will gradually consolidate with lower volatility.
PEPE Achieved a 115% Increase in Derivatives Trading Volume
While PEPE's recent bullish trend arouses the interest of spot trading investors, the Derivatives Market is also developing with a trading volume of $ 56.35 million. By comparison, according to CoinGlass real-time blockchain data, this is much more than Shiba Inu's (SHIB) $35.28 million or Bonk's (BONK) $32.07 million for the same period.
