One-Minute Rundown:
PEPE jumps 35% in a single day, riding Bitcoin’s momentum
65% of Binance traders go long, betting on another +22%
Price aims for $0.000013344 as Open Interest hits $531M
Key indicators: bullish MACD crossover, EMA breakthrough, strong Fibonacci support
While most of the crypto market was focused on Bitcoin smashing the $100K barrier, Pepe Coin quietly launched into orbit — climbing 35% in 24 hours and dragging memecoin hype back into the spotlight.
This move wasn't random. The rally began on May 6 with a technical setup known as the “morning star” pattern — a classic signal of trend reversal. Since then, PEPE has blasted through resistance, touching $0.00001091, a level not seen since early February.
Traders aren’t just watching — they’re betting.
Binance Traders Go Full Bull Mode
According to Binance data, 65% of traders are holding long positions, and Open Interest in PEPE derivatives is climbing fast — now at $531 million, just shy of its all-time high.
📊 The funding rate has also spiked to 0.0118%, suggesting traders are willing to pay a premium to keep their long bets open. Meanwhile, over $5.7M in short positions have been wiped out in a single day — a clear signal that bears are being flushed out.
Why $0.000013344 Might Be Next
Technical analysis adds fuel to the fire:
🔹 PEPE is trading above its 200-day EMA — a strong bullish signal
🔹 MACD has flipped into green territory
🔹 The Fibonacci retracement points toward the next potential target: $0.000013344, a +22% move from current levels
But there’s a catch. If the market tests support at $0.00001025 and fails to hold, PEPE could dip to $0.00000883, a correction of nearly 18%.
Whether it’s a short-term pump or the start of a broader memecoin revival, one thing is certain — PEPE is back in the game, and the market is watching.
#PEPE , #memecoin , #Binance , #CryptoNewss , #bullish
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