$PEPE
🚨 Pepe Whale Activity Skyrockets 🚨
Large investors appear to be betting heavily on PEPE’s continued upside. According to IntoTheBlock data, transactions between $1 million and $10 million have surged by an eye-popping 750%.
Transactions in the $100,000 to $1 million range increased by 177.94%, while those between $10,000 and $100,000 rose by 173.93%. This dramatic increase in whale participation signals growing confidence in PEPE’s upward momentum.
A recent example reported by blockchain transaction tracker Lookonchain showed a crypto whale quickly closing a position on TRUMP to open a 10x long position on PEPE. This trader now holds an unrealized profit of $81,000, reflecting the growing bullish sentiment.
The surge in trading volume is not limited to whales. Retail investor participation has pushed overall trading volume up by 40%, showing broad-based interest in the meme coin.
PEPE’s derivatives data provides further evidence of market optimism. Open Interest in futures trading has reached a record $595.36 million, up from $398 million just days ago.
The long-to-short ratio has increased to 1.09, the highest in more than a month, indicating that most traders are betting on higher prices. Over $3 million in short positions were closed in the past 24 hours alone, with $1.14 million of those closures happening within just four hours.
These forced closures of short positions can create a “short squeeze” effect, potentially fueling further price increases as traders who bet against the market have to buy tokens to close their positions.
