Pepe Coin has attracted traders' attention with record open interest and increased large investor activity. These developments may signal a potential market breakout.
Growth in Pepe Coin Open Interest
Open interest for Pepe Coin has surpassed $1 billion, marking the highest level ever recorded. This indicates a growing level of market activity and interest in the coin. On July 23, Pepe Coin declined by 5.3%, trading at $0.0000131, contradicting typical patterns where falling prices are usually accompanied by declining open interest.
Surge in Whale Activity
In the past 48 hours, PEPE transfer volumes surged by 107%, indicating significant activity from large holders. The volume rose from 6.04 trillion to 12.56 trillion tokens. This situation may suggest accumulation by large investors, but it also carries risks if these investors begin to offload.
Technical Analysis and Potential Breakout
Since March 2025, Pepe Coin has repeatedly tested the upper boundary of a symmetrical triangle pattern. This interaction marks the third time the token has touched this resistance level, confirming earlier failed breakouts in January and May. Although price action remains constrained, continued testing may indicate growing buying pressure. A break above the $0.0000147 resistance level could lead to a sharp uptrend surge, with a target price of $0.000050, equating to a 253% increase.
The growing interest in Pepe Coin and whale activity may signal impending market changes. Conditions for a technical breakout are forming, but uncertainty remains, requiring careful monitoring by traders.
