"Arthur Hayes joins the PEPE craze, can it drive a 30% rebound?"

As the third largest meme coin in the market, PEPE has seen a sharp rise in price of more than 27% in the past two days, attracting attention in the cryptocurrency field. On-chain analysis companies revealed that Arthur Hayes, former CEO of BitMEX, withdrew 24.39 billion PEPE tokens from Binance, worth $252,680, which may indicate that PEPE's rise has just begun. Currently, PEPE is trading at close to $0.000001058, with a price increase of more than 17.2% in the past 24 hours and a 40% increase in trading volume. From a technical analysis point of view, PEPE's bullish sentiment has shifted after breaking through the long-term downward trend line and the $0.00000875 level. Although there may be a short-term price correction, it is expected to be super bullish in the long term and may soar 30% to $0.0000132 in the next few days. On-chain indicators also support the positive outlook. The long/short ratio of PEPE is 1.084, indicating strong bullish sentiment among traders. Futures open interest increased by 30% and is steadily rising. The sharp increase in open interest shows that longs may establish larger positions. Currently, 51% of the top traders hold long positions and 48.09% hold short positions.