PEPE shows bullish sentiment and may continue to rise.
PEPE remains the only token on the list of top gainers with a trading volume exceeding $1 billion.
Market analysis shows that liquidation inflows are heavily skewed towards the upside.
Pepe (PEPE) performed strongly in the past 24 hours, with its price increasing by 9.23%. According to CoinMarketCap data, PEPE became one of the top gainers of the day.
AMBCrypto's analysis indicates that with the increasing volume and bullish positions, this upward trend may signal the beginning of an overall market rebound. PEPE shows strong market momentum.
On CoinMarketCap's gainers list, PEPE's trading volume significantly increased, becoming the only asset among the top gainers with a trading volume exceeding $1 billion.
This means that trading volume increased by 46%. When asset prices rise along with trading volume, the likelihood of further price increases increases.
AMBCrypto found that spot accumulation and futures trading activity are the main drivers of this surge in trading volume.
Futures traders maintain a bullish outlook.
In the futures market, traders have consistently shown a strong bullish attitude over the past 24 hours. A significant signal is the loss gap between short and long traders.
During this period, short traders lost $2.55 million, while long traders only lost $708,000. This apparent imbalance indicates a general market optimism for price increases.
Further analysis of futures trading volume and open-interest-weighted funding rates can help better grasp the current market sentiment.
According to long-to-short ratio data, over 51% of trades in the futures market are leaning towards long positions.
As of now, the long-to-short ratio is 1.06, with values above 1 indicating that bullish sentiment continues to dominate.
Additionally, the open-interest-weighted funding rate has remained positive for three consecutive days, typically represented by a green cloud-like marker.
This indicates that market sentiment remained bullish during this period. This is a key indicator as it suggests that PEPE may continue to rise.
Spot traders are not letting go.
Non-leverage or spot traders continue to accumulate PEPE.
In the past 24 hours, long-term holders purchased $6 million worth of PEPE and transferred it to private wallet storage.
If this trend continues, it may trigger a supply squeeze—limited supply failing to meet market demand will lead to rising prices.
