Pepe (PEPE), the meme coin that once seemed like a fleeting trend, is now back in the spotlight as derivatives traders and on-chain investors pour over $1 billion into its ecosystem.
Pepe (PEPE), the meme coin that once seemed like a fleeting trend, is now back in the spotlight as derivatives traders and on-chain investors pour over $1 billion into its ecosystem.
With Open Interest (OI) at an all-time high and whale accumulation on the rise, the meme token is showing technical signs of a major breakout.
Open Interest Hits $1 Billion: A Bet on More Upside
According to CoinGlass, Open Interest in PEPE futures surged from $748.38 million on June 17 to $1.02 billion, a new record high.
Rising Open Interest typically means new money is entering the market and it also suggests that market participants are placing directional bets. In PEPE’s case, the market is leaning bullish.
On-chain data from Santiment reveals that whales have been quietly stacking PEPE tokens throughout July.
Addresses holding between 100K – 1M PEPE, 1M – 10M PEPE, and 10M – 100M PEPE have collectively acquired over 42.16 billion tokens,
A full extension of this breakout could lead PEPE back to retest its previous ATH zone.
That said, a $10 PEPE, a 800,000x move from here, would imply an astronomical market cap and is highly improbable unless PEPE undergoes significant deflation.
PEPE Price Analysis – Next Leg Up?
At the time of writing, PEPE is trading around the $0.0000125–$0.000013 level, a key weekly resistance-turned-support zone.
The consolidation zone holds significance, especially after PEPE broke out of a long-term descending trendline.
The RSI stands around 53.4 on the weekly chart, indicating healthy mid-range momentum, neither overheated nor oversold. This is exactly the range from which many meme coin rallies often begin.
PEPE Daily Chart. Source: TradingView
The BoP indicator, which remains negative for now, hints at some residual selling pressure. However, the breakout structure suggests buyers are absorbing supply, potentially setting up a classic “spring” pattern.
PEPE Eyes a Massive Breakout – $SNORT Presale Rakes in Millions
With PEPE taking over other meme tokens this market cycle, Snorter Bot ($SNORT), a next-generation Telegram-based trading assistant, has raked in a massive $2.33 million in its ongoing presale, with one day until the next price increase.
Built to integrate seamlessly with the Solana blockchain and with support for Ethereum, BNB Chain, and other EVM networks coming soon, Snorter aims to make crypto trading as fast, intuitive, and secure as possible, directly from Telegram.
At the heart of the ecosystem is the $SNORT utility token, unlocking powerful features such as automated sniping, copy-trading, staking yields, reduced fees, and access to community rewards.
Alongside the above features, early buyers of the $SNORT token will get access to a staking process with a dynamic APY of 177% per annum at press time.
To get started, first visit the official Snorter Bot website.
Simply proceed to connect a supported crypto wallet, like Best Wallet.
Buyers can participate using SOL, ETH, USDT, USDC, or credit/debit card with a few clicks.
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