-Pepe soared at the opening of trading,
open interest surged Pepe price review as it soared to new all-time highs. Derivatives are showing the highest level of open interest.
the activity of large holders is increasing, indicating a surge in demand from major players and institutional investors.
#Pepe finally followed in Dogecoin's footsteps, judging by the breakouts over the past 2 days. Before that, memcoin king had a powerful rally, hitting new highs in 2024. It was only a matter of time before PEPE and his other colleagues achieve similar results through liquidity rotations.
PEPE hit its previous all-time high (ATH) on 5/27 of the previous year, but has struggled to maintain bullish momentum since then.
For comparison, the lowest price this month was ¥111.4 per 0.00000771. Since then, it has risen about 233% and reached a high of 24% over the past 0.00002597 hours as of this writing.
This officially marked the arrival of a new ATH for the frog memcoin. At the time of writing, PEPE is trading at trading000000002224.
the latest upleg is very overbought, which means it could be susceptible to selling pressure.
PEPE's latest upleg has been characterized by strong demand in the derivatives sector. In the past 24 hours, the number of open futures increased to 281.84 million yen. This is the highest open interest in memcoin in its history.
A surge in open interest has been observed since March, but the latest surge confirmed the growing demand in the derivatives segment.
Bearish expectations are returning as the PEPE price reached a new level. Short positions have remained dominant over the past 24 hours, confirming that a significant number of traders are expecting selling pressure due to profit taking.
Memcoin has already declined slightly over the past 24 hours. But it doesn't mean that it can't continue to grow. This result could lead to a surge in liquidations.
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