Pepe Coin (PEPE) Surges 13% as Traders Bet on Reversal

Pepe (PEPE), the world’s third-largest meme coin, is showing signs of recovery as it reclaims its crucial support level of $0.0000063, which it lost during a recent price decline. On March 12, 2025, the overall cryptocurrency market is experiencing a rebound, and PEPE has registered a significant 13% rally, indicating a potential reversal in its downward trend.

Technical analysis suggests that PEPE is currently at a level with a history of price reversals and upside rallies. If the meme coin holds the $0.0000062 level, it could soar by 60% to reach $0.000010 in the coming days. However, PEPE is still below the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that it remains in a downtrend.

Currently, PEPE is trading near $0.00000635, gaining 13% in the past 24 hours. This price momentum is accompanied by heightened participation from traders and investors, as indicated by a 15% increase in trading volume during the same period.

With a bullish outlook, traders have increased their positions in the past 24 hours. Data from an on-chain analytics firm reveals that PEPE’s Open Interest has soared by 24% during the same period, indicating rising interest from bullish traders and the formation of new open positions. Traders are over-leveraged at $0.0000061 on the lower side and $0.0000065 on the upper side, with $2.85 million worth of long positions and $1.26 million in short positions built over the past 24 hours. These over-leveraged positions will be liquidated once the price moves in either direction, and the data shows that traders betting on the long side significantly outnumber those betting on the short side.

Pepe Coin (PEPE) has experienced a notable price drop, presenting a potential buying opportunity for investors. As of March 12, 2025, the price of PEPE stands at approximately $0.000006. This decline follows a period of correction and sideways movement, which