🐸🔥 $PEPE Heating Up! Bullish Sentiment Gathers Steam for a Big Move! 🚀
Pepe ($PEPE) is making waves, rising over 5% on Wednesday after a strong rebound from a crucial support level! The frog-themed meme coin is flashing bullish signals, indicating growing confidence and potential for a significant upside.
Here's why PEPE is gaining momentum:
* Strong Recovery: PEPE bounced back from key support and is now holding above $0.000013, showing resilience.
* Surging Open Interest (OI): Coinglass data reveals PEPE futures OI climbed to nearly $600 million on Wednesday, up from $530 million on Tuesday. This surge indicates fresh capital flowing into the market, fueling the price rise!
* Positive Funding Rates: The funding rate for PEPE has turned positive at 0.0013%, meaning longs are paying shorts. Historically, positive funding rates have often preceded significant price increases for PEPE, as seen on May 8th!
* Bullish Technicals: Both daily and weekly charts are aligning for a strong move. The weekly RSI is at 57 (above 50), and the weekly MACD has shown a bullish crossover with increasing green histogram bars, all pointing to upward momentum.
🎯 PEPE Price Prediction: Bulls Taking Control!
If the weekly support level at $0.0000125 holds, PEPE could eye a 30% rise, aiming for the 50% Fibonacci retracement level at $0.0000168 (drawn from its December high to March low).
Is PEPE set for a double-digit surge? What are your predictions for the frog army? 👇
