PEPE surges 33% in 5 days: Are new highs coming?

Pepe Reaches Another All-Time High, Interest Surges

Pepe [PEPE] has witnessed yet another all-time high, with its Open Interest also approaching its peak. The memecoin has enjoyed a remarkable run, setting several new ATHs in recent days.

Pepe Hits Another ATH

AMBCrypto's analysis of Pepe's daily price trend reveals its strongest performance to date. The chart shows a consistent pattern of new all-time highs (ATHs) being followed by another ATH within the next trading session.

Since May 21st, PEPE has surged by over 33%, trading at approximately $0.000015 at the time of writing, marking yet another ATH.

Strong Bull Trend and Demand

The Relative Strength Index (RSI) indicates a strong bull trend, with a reading over 75, suggesting both bullish momentum and overbought conditions. Additionally, there has been a recent surge in demand for Pepe.

Pepe Holders and Volume Increase

The number of Pepe holders has increased by over 12,000 since May 15th. As of writing, there are over 230,000 holders, indicating a significant increase in demand for the memecoin.

Trading volume has also been elevated in recent days, consistently surpassing $2 billion, with a peak of over $4 billion on May 22nd. As of press time, the volume stands at over $1.5 billion.

Interest Building Up in Pepe

Pepe's Open Interest has also been on an upward trend. According to Coinglass, it had surged to almost $160 million at the time of writing, marking its highest level in history.

This surge in Open Interest indicates a significant influx of cash into the memecoin, suggesting growing investor interest and confidence in its market prospects.

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