You’ve Never Seen a Meme Coin Do This: Pepe Rockets 35% with Traders in a Frenzy 🚀

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Pepe (PEPE) coin price has bounded upwards with the enthusiasm of a terrier after a sausage, skyrocketing a juicy 35% on May 8 and regaining the ticker-tape glory of the hallowed $0.000010 mark. Investors, caught napping under their morning broadsheets, were rudely awakened by this meme coin mayhem, which has set the financial natterers abuzz with hopes of another delirious ‘season’ for meme tokens. With all this giddy bullishness, the PEPE open interest is poking up towards all-time highs, suggesting a veritable congregation of leverage-loving traders, all elbowing for a slice of the magic. But can this collective fever-dream hoist Pepe coin up another robust 22%? Or will it flop like a soufflé in a marching band? 🤔

Pepe Price Analysis Has Its Sights on $0.000013344—Golly!

The latest ludicrous rally took root with a long-legged doji candle on May 6 (imagine Jeeves after too many sherries), completing something called a morning star pattern. Apparently, this is very good news if you’re a candle or a bullish fellow. The result? A whacking near-35% ascent for PEPE on May 8, producing a bullish candle strong enough to make Aunt Agatha grumble. Tradewinds suggest winds of change might be afoot—or a-toe, at the very least.

As of scribbling time, Pepe coin has perched at $0.00001091, a vantage last enjoyed on February 4. However, even the most energetic meme coin needs a breather, and Pepe is currently taking an intraday siesta, down a gentle 1.84%. 💤

Pepe’s leap over the 200-day Exponential Moving Average (EMA) is the sort of acrobatics that excites the trading crowd, and even the ol’ MACD and his pal Signal Line have put their hats on straight and agreed to be bullish for the day.
Fibonacci levels, which sound more like a vintage Italian pasta family than a financial metric, suggest our friend Pepe has already vaulted above the 23.60% line at $0.00001025 and is eyeing up the next noodle—sorry, level—at $0.000013344. That implies a possible extra 22% upside, enough to set even a cautious butler’s monocle jingling.

But beware the notorious retest! Should Pepe slip on the banana peel of fate and drop back to the 23.60% mark, we could see a rather undignified 6% tumble and the loss of the 200-day EMA—a moment best watched through the gap in your fingers. Peggy pulling off a wobbly retest could even trigger an 18% nosedive to $0.000008832, which is the sort of thing that sends traders scurrying for strong tea.

Binance Traders Oozing Confidence as Open Interest Nears the Stratosphere

Just as one had written off meme coins to the oblivion of the attic, Pepe has re-emerged to slap the market awake, leading a stampede in derivatives that would make even Bertie Wooster raise an eyebrow. PEPE open interest has soared to a sweaty-palmed $531 million, brushing dangerously close to a $555 million record, as a bullish cavalcade charges in for the spoils.

Meanwhile, the OI weighted funding rate (a phrase guaranteed to clear the room at parties) has jolted up to 0.0118%, keeping pace with a boisterous spike in trade volume. An impressive $5.71M short squeeze means those betting against Pepe found themselves on the business end of an old-fashioned market pie-in-the-face. 🥧

On Binance, 65% of traders are holding lofty, long positions, inflating the long/short ratio to 1.86—a statistic that, frankly, is making the short sellers feel like extras in a farce. If this overcaffeinated optimism continues, Pepe might just find the rocket fuel needed to punch through the next price ceiling. Buckle up, old bean. 🐸🚀

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2025-05-09 08:32