$PEPE

🚨 Pepe Open Interest Nears $555 Million 🚨

With PEPE coin price surging, its open interest also soared considerably, indicating an increase in leveraged positions. According to Coinglass data, PEPE open interest recently reached $531 million, and it is near its all-time peak of $555 million.

This spike suggested that traders are aggressively setting up for more upside momentum after the retail cheer and speculative momentum.

Additionally, the weighted funding rate for PEPE has also soared to 0.0118 %, signifying a rise in bullish trade volume. With more than $5.71 million of short liquidation, the current market situation is tilted to long positions. This confirms the bullish sentiment regarding the PEPE in the near term.

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