Pepe Coin Ready to Explode? Open Interest Hits $527 Million, Near Record High!

Jakarta, Pintu News – The crypto market has recently shown significant signs of recovery, with Pepe Coin (PEPE) being one of the standout meme currencies.

After experiencing a rise of almost 100% in early May, Pepe Coin (PEPE) is now showing a pattern that indicates a potential further surge.

With open interest reaching $527 million and funding levels rising, will Pepe Coin (PEPE) reach new resistance?

Pepe Coin (PEPE) Price Analysis

In the last 4-hour price chart (5/20), Pepe Coin (PEPE) showed a steady sideways movement between $0.000015 and $0.00001196. This consolidation phase lasted for 11 days and managed to suppress the trend momentum.

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After a significant rally in early May, where the price of Pepe Coin (PEPE) jumped from $0.00000761 to $0.000015, a bull flag pattern clearly formed. The rally acted as the flagpole, while the consolidation phase formed the flag itself.

Momentum indicators such as Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are showing positive signals supporting the upward breakout scenario. The RSI moving up past the centerline adds confidence in the bullish outlook.

If Pepe Coin (PEPE) manages to break out of the flag pattern, the next target based on Fibonacci levels is at the 78.60% retracement which is near $0.000020, with intermediate resistance at $0.00001657.

Surge in Funding Rate Indicates Bullish Sentiment

The Pepe Coin (PEPE) derivatives market is also showing increasing bullish expectations. Open interest has risen 3%, reaching a near-record high of $527 million.

Additionally, the liquidation of short positions in the last 24 hours (5/20) has surpassed $1 million, signaling that many traders who bet on the price drop have been forced to close their positions.

The funding rate for Pepe Coin (PEPE) has jumped to 0.0145%, indicating a sharp increase in bullish sentiment. This reflects the high expectations of traders using leveraged positions that there will be a significant upward movement.

This increase could be an important indicator for investors considering entering into the Pepe Coin (PEPE) market.

Future Prospects of Pepe Coin (PEPE)

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With support from technical indicators and increased activity in the derivatives market, Pepe Coin (PEPE) seems poised to continue its uptrend.

Investors and traders should take note of the support and resistance levels that have been identified to make informed investment decisions. In addition, monitoring news and overall market developments is also important to anticipate possible trend changes.

It is important for investors to conduct in-depth research before making an investment decision. The crypto market is known for its volatility, and while opportunities for large gains exist, the risk of loss is also significant.

Pepe Coin (PEPE) offers an interesting example of market dynamics that can provide opportunities for the timely and cautious.

In conclusion, Pepe Coin (PEPE) shows significant potential for a further breakout thanks to favorable technical and market factors.

However, like all investments, it is important to approach Pepe Coin (PEPE) with a well-thought-out strategy and a good understanding of the risks involved.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• The Crypto Basic. Pepe Eyes Bull Flag Breakout as Open Interest Rebounds to $527M Near All-Time High. Accessed on May 21, 2025