PEPE Coin Price Surges 10% Amid Market Recovery and Whale Activity
PEPE coin has increased by 10% today, reaching $0.00000869 with a market cap of $3.75 billion. This rally coincides with gains in the memecoin sector, including Dogecoin and Shiba Inu, which rose between 5-10%. Whale activity is notable, with a significant holder accumulating nearly 2 trillion PEPE coins.
Key Points
- A whale withdrew 1.5 trillion PEPE from Binance, followed by an additional 500 billion.
- CoinGlass data shows PEPE's open interest rose by 6.6% to over $434 million.
- 24-hour liquidations hit $1.57 million, mainly in shorts.
Technical Analysis
- PEPE forms a bullish engulfing candle and morning star pattern, indicating potential trend reversal.
- Price surpassed the 23.60% Fibonacci level at $0.00000823, targeting resistance at $0.0000090.
- A cup and handle pattern suggests further price increase potential.
A close above key levels could drive PEPE toward $0.000001465, aligning with the 61.80% Fibonacci level. Trading above $0.0000075 indicates a bullish outlook, while failure to break higher may lead to a retest at $0.0000075.
PEPE price chart | Source: TradingView