Pepe Price: Whale Demand and Rising Open Interest Fuel 25% Weekly Rally

TLDR

• PEPE is up 25% this week, gaining 12% in the past 24 hours
• Seven whale transactions over $1 million each occurred on Thursday, the highest since March 16
• Exchange supply dropped from 82.75T to 81.30T PEPE while top holder wallets grew to 84.04T PEPE
• Futures Open Interest hit a three-month high of $250 million with a bullish funding rate
• Spot market demand remains behind, with $2.65 million in net sales recorded August 18–19

Pepe has posted back-to-back gains of 11% on Wednesday and Thursday, bringing its weekly total to 25%. The meme coin is trading above its 50-day and 100-day Exponential Moving Averages (EMAs), and momentum indicators are pointing upward.

PEPE currently has a market cap of $1.19 billion, making it the fourth largest memecoin. It had been flat over the past 30 days before this week’s move.

Seven large transactions, each worth over $1 million, were recorded on Thursday. According to Santiment data, that is the highest number of such whale transactions since March 16.

… Continue reading the full article at the original source below.