- PEPE holds firm in key accumulation zone, hinting at potential breakout soon.
- Rising open interest and liquidations show strong bullish pressure on PEPE.
- Technical indicators and short squeeze activity reinforce ongoing upward momentum.
Pepe (PEPE), the meme coin that gained immense popularity in the past year, is showing strong bullish momentum heading into June 4, 2025. As of press time priced at $0.0000126, PEPE has seen a 9.23% increase in the past 24 hours.
According to Crypto Patel, a well-followed market analyst, the token is holding firm within its key accumulation zone between $0.0000091 and $0.0000112. Patel suggests this might be a pre-breakout retest before a significant price surge, with potential targets as high as $0.000055 in the coming weeks.
Technical Indicators Confirm a Bullish Setup
Several technical signals support the bullish narrative. The MACD line is slightly above the signal line, showing mild upward momentum. Though not extremely strong, the MACD’s position indicates buyers are still active.
The RSI, currently at 56.57, falls within the neutral-to-bullish zone. This level suggests there’s still room for growth before the asset becomes overbought.
In addition, the liquidation heatmap on Gate’s PEPE/USDT pair highlights a consistent uptrend over the last 24 hours. Prices have climbed from below $0.00000115 to $0.00000132826.
Most liquidation zones are situated below the current price, confirming that overleveraged shorts are getting squeezed. With $10.61 million in leverage involved and nearly $945K liquidated in a single wave, the short squeeze is clearly fueling upward price momentum.
Rising Open Interest and Exchange Activity Signal Market Confidence
Open interest across all PEPE contracts now totals $79.9 million, entirely in perpetual contracts. This is a 7.71% increase in 24 hours, which highlights growing investor participation.
Notably, PEPE’s share in the broader derivatives market remains small just 0.11% overall. However, the rise in engagement is a positive signal for future price moves.
The bulk of this open interest is concentrated on OKX, which holds $70.7 million. Other exchanges such as Huobi, Kraken, and dYdX show much smaller figures. This concentration suggests OKX may play a leading role in future volatility or price action.
