PEPE Coin continues to attract investor attention due to its volatility and significant market activity. This article explores the key factors influencing its value.
Surge in Whale Activity and Accumulation
In the past week, net flows of PEPE from whales surged by an impressive 1,645%. This dramatic increase in activity among large investors indicates their intent to accumulate tokens, likely in anticipation of a price shift. The volume of long positions opened by whales exceeded $4.5 million within 24 hours, suggesting confidence in the coin's future.
Derivatives Market Activity
The derivatives market for PEPE showcases notable activity, with long liquidations amounting to $1.97 million. Despite recent liquidations, the positive funding rate at 0.0091% indicates that most traders remain bullish, expecting price increases for the token.
Key Support and Resistance Levels for PEPE Coin
The current price of PEPE is $0.00001223, trading within a range of $0.00001221 to $0.00001226. Support is set at $0.00001200, while resistance is at $0.00001226. A breakthrough at resistance may lead to a rise to $0.0003 if the prevailing trend continues.
PEPE Coin exhibits significant market activity, potentially paving the way for price breakthroughs in the coming days. Investors remain vigilant to further price movements and market activity.
