- Pepe jumped with 14% and became a top 5 win when the crypto market hood $ 3.5 trillion hit.
- Traders opened $ 15.94 million in long positions near $ 0.00001611, which showed important liquidation levels.
Pepe [PEPE]The popular Crypto -Memecoin has received a lot of attention from crypto enthusiasts after the recent performance and bullish price action.
With an upside rally of 14%, the memecoin has positioned itself under the top 5 win in the cryptomarket and has seen the remarkable whale partage.
Current market sentiment
From May 23, the total crypto market capitalization rose With 4.53% to hit $ 3.5 trillion. Of course this wide rally lifted large altcoins and Pepe benefited from the momentum.
This substantial increase has influenced most cryptocurrencies, with Pepe benefiting considerably.
Whale participation jumps by 200%
According to Intotheblock, transactions ranging from $ 1 million to $ 10 million and $ 100k to $ 1 million, usually linked to whales and settings, rose by 200% and 119.25% respectively.
Source: Intotheblock
This increase in transaction size indicates rising interest rates and their growing trust in the memecoin.
In addition to whale participation, traders are also in line with the current market sentiment, such as unveiled by Coinglass.
Data shows that traders are used too much for $ 0.00001399 at the bottom (support) and $ 0.00001611 at the top (resistance).
At these levels, traders built $ 15.94 million in long positions and $ 3.28 million in shorts on key liquidation levels.
Source: Coinglass
Volume rises as the price supports
Pepe traded near $ 0.00001555 at the time of the press and achieved a daily profit of 14%. The volume jumped by 11%and strengthened the strength behind the movement.
The price that was successfully kept over the support of $ 0.00001485, which has now been reversed in a short -term basis.
According to the technical analysis of Ambcrypto, Pepe Bullish seems, because the recent price button has pushed the memecoin above a key resistance level, so that it is placed on the edge of a huge upward rally.
Source: TradingView
If the memecoin applies above the level of $ 0.0000145, there is a strong possibility that it can continue its upward momentum and increase by 35%, making the level of $ 0.000021 possible in the near future.
Credit : ambcrypto.com
