$PEPE Incar Rally 20% when Open Interest Reaches Record High🎯🎯🎯
On the daily chart, the price of Pepe rebounded after retesting the previously breached downtrend line on Saturday, closing above the daily resistance at $0.000013 the following day. PEPE has stabilized around this level since then, and at the time of this news being written on Wednesday, the price is around the same daily level at $0.000013.
Santiment's Supply Distribution Data supports a bullish outlook for Pepe, as the number of large wallet holders (whales) has increased.
This metric shows that whales holding between 100,000 and 1 million (red line), 1 million and 10 million (yellow line), as well as 10 million and 100 million (blue line) PEPE tokens have consistently accumulated since early July, with a net buying activity of 42.16 billion tokens, reinforcing the bullish outlook for Pepe.
If the daily support at $0.000013 holds, the price could continue a rally of 22% from this level towards the next daily resistance at $0.000016, which coincides with the weekly target mentioned above.
