PEPE, the meme coin, is drawing increased interest from traders and large investors due to its breakout in bullish price pattern.
Traders and Whales Fuel PEPE’s Breakout Momentum
According to the latest report by Coinglass, PEPE's open interest (OI) has surged 13.56% in the past 24 hours and 5.6% in the last hour, indicating growing trader interest. Alongside traders, whales and institutional investors also appear more engaged, resulting in a significant rise in large transaction volumes, reported by IntoTheBlock.
PEPE Technical Analysis and Upcoming Levels
Based on CoinPedia's analysis, PEPE has broken out of a bullish flag and pole pattern on the four-hour timeframe. This is considered a robust bullish signal, often prompting traders to initiate trades after the breakout. If PEPE closes a four-hour candle above $0.0000222, there is potential for a 65% surge to reach $0.000036 in the coming days. However, the bullish scenario for PEPE holds only if it closes above the mentioned level.
Current Price Momentum
Currently, PEPE is trading near $0.000020, experiencing a price surge of over 5.10% in the past 24 hours. During the same period, its trading volume has increased by 18%, indicating heightened trader involvement post-bullish breakout.
PEPE coin shows potential for strong growth amid increasing trader and whale interest. Technical indicators suggest further upside in the days ahead.
