💥💥💥 $PEPE Breaks into Price Discovery as Open Interest Hits New Highs

PEPE Follows #dogecoin’s Lead, Hits New ATH Amid Explosive Rally

- PEPE, the frog-themed #Memecoin🤑🤑 , has soared to a new all-time high (ATH) of $0.007340, reflecting a 233% rally from its monthly low of $0.002202 on November 4. This surge is attributed to liquidity rotation, strong market demand, and increased derivatives activity. At press time, PEPE remains at its ATH.

Derivatives Market Fuels PEPE's Rally

- PEPE’s rally is driven by a record-high $281.84 million in futures open interest within 24 hours, highlighting growing momentum since September. Despite the new ATH, bearish sentiment is emerging, with short positions dominating as traders anticipate profit-taking.

- Liquidation data from Coinglass shows balanced activity, with $1.43 million in long liquidations and $1.44 million in short liquidations, signaling a tight battle between bulls and bears.

Whales Driving PEPE’s Market Moves

- Whales have played a significant role, with large holder inflows jumping from 1.81 trillion PEPE on November 2 to 39.66 trillion on November 13. Outflows also surged, hitting 40.77 trillion tokens by November 13. Recent data shows profit-taking among whales, though continued inflows suggest potential upside as the bull market strengthens.

Outlook

- PEPE’s explosive rally, fueled by strong derivatives market interest and whale activity, indicates room for further growth. As the bull market heats up, all eyes are on PEPE’s next big move.

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