Pepecoin was one of the assets most affected by the recent recovery in the cryptocurrency market. PEPE, which has increased by approximately 6 percent in the last 24 hours, is currently traded at 0.000004012. Recently, with the decrease in geopolitical tensions in global markets, investors’ risk appetite has increased again. This return has especially revived interest in meme coins.
Transaction volume is increasing in the derivative market
One of the most important factors supporting the rise in Pepecoin is the activity in the derivative market. In the last 24 hours, the open position in PEPE futures increased by approximately 20 percent, reaching 228.67 million dollars. This increase means that more investors are opening positions in the market and has led to comments that the bullish expectation in the short term has strengthened.
An increase in the amount of open interest generally indicates increased confidence in the market. In particular, increasing liquidity may mean that price movements may be sustainable. This situation is parallel to the signals that PEPE may follow a volatile but upward trend in the near term.
Individual investor interest is growing
The recovery trend seen in the overall cryptocurrency market has increased the activity in speculative assets such as Pepecoin. Especially the increase in social media and trade volume further increased PEPE’s visibility. The purchasing desire of small investors and the activity in the derivative market contributed significantly to the increase in the price.
The increasing interest of individual investors may pave the way for new fluctuations in cryptocurrencies. The positive atmosphere on PEPE recently keeps the demand for this token alive.
Remarkable savings in large wallets
The role of large investors in the rise in Pepecoin is also noteworthy. Looking at on-chain data, it seems that wallets holding large amounts of PEPE have recently turned to savings. Especially in wallets with 100 million to 1 billion PEPE balances, the total assets increased to 10.64 trillion tokens. This represents a steady increase from mid-February levels.
Positions were also increased in wallets holding more PEPE. The total amount increased to 3.64 trillion tokens in wallets holding more than 1 billion tokens. It was at 3.60 trillion at the end of February. Although the increase is small, it indicates a stable accumulation trend.
The fact that large investors continue to accumulate creates a basis that can serve as support in price fluctuations. If this trend continues, price stability may be stronger in Pepecoin.
While the PEPE price has increased by over 6 percent in the cryptocurrency market in the last 24 hours, the intense activity seen in both large wallets and the derivative market indicates that investor interest is rapidly increasing.
