Since Pepe delivered its 160% rally, the open interest rate in the meme coin has increased, showing that bullish sentiment is still rising among crypto traders. The Open Interest-Weighted Funding Rate jumped to a new ATH of 0.12%. This boost is a sign that PEPE holders are ready to hold long positions due to expectations of higher PEPE prices.On-chain data shows that the token has had a recovery in its popularity. PEPE holders have increased from around 155,000 to over 157,600 in under a week. This surge is thanks to the presence of whale investors and PEPE’s recent listing on platforms like Robinhood in European Union countries. Binance also recently promoted Pepe with a massive token giveaway that boosted investors’ interest.
Final Thoughts
With the rise of institutional investors in the crypto market, altcoins are bound to record upside prices. PEPE’s recent 160% push proves this narrative, as meme coins log stellar growth. Nugget Rush has also showcased the rising adoption of meme coins with its presale milestones. The token’s delivery of trendy features set it up for an incoming explosive surge in its value. Investors looking to take advantage of the platform’s potential are advised to get into the presale before it ends.