Top Trader Opens PEPE Long Position as Trading Volume Soars 50%

PEPE has recorded a 50% jump in trading volume as popular trader James Wynn reopened a leveraged long position on PEPE using 10x leverage.

Parth Dubey By Parth Dubey Julia Sakovich Editor Julia Sakovich Updated 4 mins read
Top Trader Opens PEPE Long Position as Trading Volume Soars 50%

Key Notes

  • PEPE’s price rose 4% with trading volume hitting $1.59 billion.
  • Crypto trader James Wynn reopened a 10x leveraged long after profiting $26M on a past PEPE trade.
  • Wynn’s current PEPE position is already $200K in profit.

Meme coin PEPE PEPE $0.000009 24h volatility: 1.5% Market cap: $3.71 B Vol. 24h: $591.98 M is currently trading at around $0.00001428 after rising by around 4.3% in the last 24 hours. The token has also recorded a major surge in trading activity, with daily volume spiking nearly 50% to $1.59 billion, according to CoinMarketCap.

The renewed bullish momentum aligns with a high-profile move by crypto trader James Wynn, who has reopened a leveraged long position on PEPE using 10x leverage. Wynn previously netted over $26 million from a similar trade on HyperLiquid.

His latest position reflects growing confidence in the meme coin’s short-term trajectory. Wynn stated on X that his position is already at a $200,000 profit. He added that he is fighting the urge to go full degen and open a billion-dollar long.

PEPE had been consolidating below the $0.000010 level since mid-February. However, earlier this month, its price saw a 45% spike, breaking out of the selling pressure. In the last 30 days, the token has surged nearly 50%, adding over $2 billion to its market capitalization.

PEPE Price Outlook

On the 4-hour PEPE price chart, the RSI is sitting near 65, suggesting that the meme coin still has room for further upside. However, traders should watch for major resistance around $0.00001520.

PEPE price chart with RSI and Bollinger Bands | Source: TradingView

Bollinger Bands are widening, indicating a potential breakout continuation. The price is currently testing the upper band, which often leads to a short-term pullback or a breakout if volume confirms.

Meanwhile, the MACD shows a bullish crossover, with the MACD line now trending above the signal line. This supports the momentum toward further upside. However, a bearish divergence in the short term could result in a pullback.

PEPE price chart with MACD | Source: TradingView

Interestingly, PEPE appears to be forming a classic ascending triangle pattern on the 15-minute chart, with flat resistance near $0.00001435. If PEPE breaks above this resistance with volume, the price could rally toward$0.00001500.

Popular crypto trader Crypto Zeus suggested a bullish trajectory for PEPE, predicting new higher price zones for the cryptocurrency in the near future.


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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Parth Dubey

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

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