Pepe (PEPE) is witnessing a surge in trading activity, with volume spiking nearly 41% to $2.58 billion**. This momentum aligns with a high-profile move by top trader James Wynn, who reopened a leveraged long position on PEPE using **10x leverage**. Wynn previously earned **$26 million from a similar PEPE buy position on HyperLiquid.
The PEPE price continues to consolidate below $0.000015** after a **50% spike**, adding **$2 billion to its market cap. Analysts are bullish on PEPE’s next markup phase, supported by whale activity and derivatives data.
PEPE’s Derivative Data Shows Strong Investor Interest
James Wynn isn’t alone in his bullish stance. Key metrics highlight growing confidence in PEPE:
- Open interest in PEPE futures rose 10%, hitting a record 700 million (Source: Coinglass).
- Funding rate spiked to 0.0118%, with 65% of Binance traders holding long positions.
- Long/short ratio reached 1.86, reflecting overwhelming bullish sentiment.
Wynn’s current $200,000 profit aligns with this market trend, signaling potential upside.
PEPE Whales Accumulate: Is a Supply Squeeze Likely?
Whale activity suggests deeper confidence in PEPE’s long-term trajectory:
- A dormant investor acquired 2.21 trillion PEPE (worth $29.28 million) in May.
- Initial withdrawal of 1.79 trillion PEPE from Binance, followed by an additional 420 billion tokens.
👉 Why whales are betting big on PEPE
Such accumulation could trigger a supply squeeze, propelling PEPE toward new highs.
PEPE Price Prediction: Key Targets to Watch
Technical indicators point to a bullish breakout:
- RSI at 60 on weekly charts suggests room for growth.
- Bollinger Bands widening, signaling potential volatility.
- Break above $0.00001520** could propel PEPE to its **ATH of $0.000024 (a 1000% surge).
Remittix (RTX): A High-Potential Alternative to PEPE
While PEPE dominates meme coin chatter, Remittix emerges as a utility-driven contender:
- Pioneers crypto-to-fiat conversions for cross-border payments.
- Supports 50+ digital currencies across 30+ fiat options.
- Targets the $190 trillion remittance market.
👉 Explore Remittix’s 100x potential
Current presale price: $0.0781 with PayFi innovations.
FAQ: PEPE and Market Trends
1. Why is PEPE’s open interest surging?
Increased trader speculation and leveraged longs (like Wynn’s 10x position) drive bullish momentum.
2. What’s the risk of a PEPE price correction?
Consolidation near resistance could precede a pullback, but whale support may buffer downside.
3. How does Remittix compare to PEPE?
PEPE thrives on hype; Remittix offers tangible utility in global payments, appealing to long-term investors.
4. Where can I track PEPE’s derivatives data?
Platforms like Coinglass provide real-time metrics.
Conclusion
PEPE’s bullish indicators—from whale accumulation to derivatives demand—paint an optimistic outlook. Meanwhile, Remittix (RTX) presents a compelling alternative with its real-world use case.
For traders eyeing volatility or utility, both assets offer unique opportunities in 2024’s dynamic crypto landscape.
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