Pepe Coin Price Drops 5.3% as Open Interest Hits $1B 253% Rally Potential Lurks

Pepe Coin’s price dipped 5.3% to $0.0000131 on July 23, yet the token defied conventional market behavior by witnessing a surge in open interest to an all-time high of over $1 billion [1]. This metric, which measures the total value of outstanding derivative contracts, reflects heightened speculative activity and growing market participation. The divergence between falling prices and rising open interest suggests a buildup of positioning among traders, particularly large holders. Whale transactions increased by 107% within 48 hours, with transfers jumping from 6.04 trillion to 12.56 trillion tokens, indicating potential accumulation at the current price level [1].

Technical analysis highlights Pepe Coin’s repeated attempts to break through a symmetrical triangle pattern since March 2025. The token has tested the upper boundary of this formation three times, with previous attempts in January and May failing to produce a sustained breakout. However, the persistent pressure on this resistance zone—currently at $0.0000147—signals accumulating buying interest. A successful breach could trigger a sharp upward move, with analysts forecasting a potential 253% rally to $0.000050 [1].

The On-Balance Volume (OBV) indicator further underscores the bullish sentiment. Despite the recent price decline, OBV shows consistent volume inflows, suggesting buyers are accumulating the token at lower levels. This divergence often precedes significant price movements, as it indicates a shift in market sentiment from bearish to neutral or bullish. Coinglass data confirms the record open interest figure, emphasizing Pepe Coin’s rising prominence in speculative trading circles [1].

The surge in whale activity raises both optimism and caution. While increased transfers could signal strategic accumulation by large holders, they also pose risks if these investors decide to offload their positions. The 107% rise in PEPE transfers over two days coincides with the token’s consolidation near critical technical levels, amplifying the potential for a breakout. However, traders remain cautious given the asset’s history of failed attempts to break through resistance.

The market’s focus now shifts to volume dynamics and whether the recent inflows can sustain a bullish trend. A sustained rally above $0.0000147 would not only validate the triangle pattern but also align with the projected 253% target. Conversely, a breakdown could reignite bearish momentum, testing support levels below $0.0000131.

Source: [1] [Pepe Coin Eyes Breakout as Price Drops and Open Interest Hits $1B] [https://coinmarketcap.com/community/articles/6882ca25960a504cf76a410d/]