PEPE rose about 25% this week, including a 22% gain over the past two days, as large-holder activity and derivatives positioning both picked up. Data from Santiment showed seven whale transactions worth more than $1 million each on Thursday, the highest single-day count since March 16. At the same time, exchange supply of PEPE has fallen by 1.45 trillion tokens since Aug. 12, while major non-exchange wallets added 3.54 trillion tokens over the same period.
In derivatives, CoinGlass data showed PEPE futures open interest climbing to $250 million, a three-month high and about 19.6% above the prior day. The weighted funding rate remained positive, pointing to a bullish bias in the market. PEPE has also moved above its 50-day and 100-day exponential moving averages, with the next key resistance level near the 200-day line at around $0.00000363. According to CoinJournal, whale accumulation near local lows, shrinking exchange balances, and rising derivatives interest may support PEPE in the short term, though elevated open interest could also increase liquidation risk if price action reverses sharply.
PEPE has gained about 25% this week, with a cumulative 22% rise over the past two days, according to Techub News.
Santiment data showed seven whale transactions worth more than $1 million each on Thursday, marking the highest single-day reading since March 16.
On-chain supply trends also pointed to tighter circulating availability. Since Aug. 12, PEPE supply on exchanges has dropped by 1.45 trillion tokens, while major non-exchange addresses accumulated 3.54 trillion tokens over the same period.
In the derivatives market, CoinGlass data showed PEPE futures open interest rising to $250 million, a three-month high and roughly 19.6% above the previous day. The weighted funding rate stayed positive, indicating a bullish tilt in positioning.
From a technical perspective, PEPE has broken above its 50-day and 100-day exponential moving averages. The next key resistance sits near the 200-day line at around $0.00000363.
CoinJournal said whale accumulation near price lows, reduced exchange supply, and stronger derivatives interest may support PEPE in the short term. At the same time, elevated open interest could raise liquidation risk if the token sees a sharp reversal.
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