- PEPE coin price rises 35% due to whale involvement.
- Bitcoin’s surge impacts memecoins like PEPE.
- Open interest reaches $531 million for PEPE.
PEPE’s rise highlights potential volatility and interest shifts in the crypto market.
The PEPE coin, a decentralized and anonymous memecoin project, saw a 35% price jump. This was significantly attributed to crypto “whales” accumulating nearly 2 trillion tokens. Market participants noted a surge in open interest to $531 million. Major exchanges like Binance reported 65% of traders are long on PEPE, reflecting strong market sentiment. The coin’s movement coincided with Bitcoin breaching key levels, emphasizing memecoins’ historical correlation with major asset milestones.
The whale-driven rally impacted related meme tokens such as Dogecoin and Shiba Inu, given their previous market pattern alignment. Ethereum’s ecosystem also showed reactions due to capital rotations common during memecoin booms. However, no regulatory changes accompanied this surge, indicating a purely market-led event. Cryptocurrency enthusiasts observed increased trading activity on platforms like Binance, supporting the bullish technical indicators such as MACD crossover and breach of the 200-day Exponential Moving Average.
No specific key opinion leaders have commented publicly on the PEPE coin rally as of the latest updates, indicating a lack of public discourse from prominent figures such as Arthur Hayes, CZ (Changpeng Zhao), Vitalik Buterin, or Raoul Pal.
It’s believed that the rally was part of a broader market cycle, similar to past “meme coin seasons”. Historically, Bitcoin reaching new highs often triggers significant liquidity flow into smaller cap coins. This trend could set the tone for further memecoin market dynamics as crypto traders look to capitalize on potential gains.
