PEPE Surges 9.23% in 24 Hours, Trading Volume Exceeds $1 Billion

PEPE, a prominent token, has experienced a significant surge, rallying 9.23% in the past 24 hours. This impressive performance has positioned PEPE as one of the top market gainers. The token's trading volume has surpassed $1 billion, marking a 46% increase. This substantial volume, coupled with the price rise, suggests a strong likelihood of further price gains.

The market analysis indicates that liquidation inflows are heavily skewed in favor of a rally. This 24-hour move could mark the beginning of a broader market rally, as accumulation and long positions continue to rise. Among the top gainers, PEPE is the only token to have surpassed $1 billion in trading volume.

In the Futures market, traders have remained firmly bullish over the past 24 hours. One indicator of this trend is the disparity in losses between short and long traders. Short traders lost $2.55 million, while long traders lost only $708,000 during this period. This significant imbalance confirms a strong directional bias toward a rally. Further analysis of Futures trading volume and the Open Interest-Weighted Funding Rate provide deeper insight into market sentiment. Futures trading volume based on the long-to-short ratio shows that more than 51% of trades favor long positions. At press time, the long-to-short ratio stands at 1.06. Notably, a ratio above 1 signals sustained bullish sentiment. Similarly, the Open Interest-Weighted Funding Rate has stayed positive for three consecutive days—marked by a green cloud. This indicates that market sentiment has remained bullish during this period. It’s a critical metric, as it suggests that PEPE is likely to continue trading higher.

Non-leveraged, or spot, traders have continued to accumulate PEPE. In the past 24 hours, long-term holders have purchased $6 million worth of PEPE and moved it into private wallets for storage. If this trend persists, it could trigger a supply squeeze—pushing prices higher as limited supply struggles to meet market demand.

According to the analysis, the current market conditions and trading activities suggest a strong bullish sentiment for PEPE. The significant increase in trading volume, coupled with the accumulation of long positions and the bullish sentiment in the Futures market, indicate that PEPE is likely to continue its upward trajectory. However, it is important to note that market conditions can change rapidly, and investors should remain cautious and monitor the market closely.