- Open interest for Pepe Coin surpassed $1 billion, marking the highest level ever recorded, indicating growing market attention and activity.
- Whale transactions surged by 107% within 48 hours, suggesting large holders are positioning around the current price zone of $0.0000131.
- Repeated touches at symmetrical triangle resistance since March hint at a potential technical breakout if bullish volume sustains.
Pepe Coin declined by 5.3% on July 23, trading at $0.0000131 despite increasing trader activity. The drop contradicts typical patterns where falling prices are accompanied by declining open interest. Instead, open interest surged to a new high of over $1 billion, signaling significant market participation.
Since March 2025, Pepe Coin has repeatedly tested the upper boundary of a symmetrical triangle pattern. This recent interaction marks the third time the token has touched this resistance level, echoing earlier failed breakouts in January and May. Although price action remains restrained, continued testing may indicate growing buying pressure.
Potential Breakout Eyes $0.000050 Target
Pepe Coin still trades slightly beneath the existence spotlight of resistance at 0.0000147. A rally above this line has the potential to produce a sharp uptrend surge, and with the expected target being 253% and the target price being at the level of 0.000050. This area does not break in months, and it shows how technical this level is to the bulls who are trying to build up.
The indicator On-Balance Volume (OBV) shows the continuous inflow of volume into Pepe Coin, even though there are no price increases. Such a deviation implies that perhaps buyers are steadily hoarding the token as prices fall. Another increase would open a path to a sudden uptrend breaching the resistance line.
Whale Transactions Increase Amid Market Uncertainty
Large transaction data shows a notable increase in whale activity. Over the past two days, PEPE transfers rose by 107%, climbing from 6.04 trillion to 12.56 trillion tokens. This development may indicate accumulation by large holders, though it also carries risks if these investors begin to offload.
Data from Coinglass shows that open interest surpassed $1 billion for the first time. The high figure underlines increased speculative interest in Pepe Coin. It highlights the token’s rising prominence among traders, especially those anticipating short-term volatility and potential breakout gains.
