PEPE Price Rally: Robinhood’s $15M Sell-Off Sparks New Buying Interest

PEPE’s price has kept moving upward, leaving many investors surprised because the token resists the anticipated sharp drop despite many selling the token. The last 24 hours saw PEPE rise by 7.88% which might be a sign of bigger price gains for this cryptocurrency. The persistent rise in the market has led traders and analysts to notice how well PEPE is holding steady.

PEPE Price Surge: Bullish Trends Signal Further Growth

During the past 24 hours, PEPE caught attention due to Robinhood’s major $15 million sell-off of the cryptocurrency, causing its market to drop. Moving a big amount of PEPE from a Robinhood wallet led to a significant reduction in liquidity. Usually, when whales dump their holdings, they buy them again not long after, but this is not happening right now. After the sell-off, Robinhood still owns 3.67% of the total PEPE supply, valued at about $209.9 million, making it the second largest for PEPE.

After such a huge fall, PEPE’s price has stayed unchanged, surprising those who thought the market would correct. Based on analysis, the stable price suggests that we may see prices go up over the following days.

Bullish Patterns Indicate Potential Gains

PEPE’s short-term outlook appears to be bullish, as indicated by technical analysis on the 4-hour chart. The chart reveals that PEPE  price is currently trading within a symmetrical triangle pattern, characterized by converging support and resistance levels. This bullish formation suggests that PEPE price may experience a breakout soon, potentially increasing by 12.24%, reaching a target price of $0.00001541.

The symmetrical triangle pattern is considered a sign of consolidation before a significant price move. Traders closely watch the price action to see if PEPE can break the upper resistance level and initiate a rally. If the price breaks out of this formation, it would continue PEPE’s upward momentum.

Cup-and-Handle Pattern Suggests Further Upside

Looking at PEPE price over the long term, the 1-day chart points to the token being within a bullish cup-and-handle pattern. The cup-and-handle pattern usually signals a short period when an asset is accumulated before the price goes up. If $0.00001483 is broken as resistance, this pattern could fully develop.

If PEPE price goes above its resistance, it may surge by 91% and hit a price of $0.00002836. An increase above this price level reached in December 2024 would mark an important part of the token’s price journey. According to analysts, PEPE’s promising future and current price rise might give good returns to buyers and holders.

Rising Interest in PEPE: Increased Buying Pressure Across Markets

PEPE’s price rally is fueled by growing buying interest across both spot and derivatives markets. Buying activity has picked up in the spot market, with $335,000 worth of PEPE purchased over the last 24 hours. This increase in buying pressure suggests that traders are seeing value in PEPE, despite the recent sell-off by whales. The influx of new buyers could continue to drive the PEPE price upward in the coming days.

Open interest (OI) in PEPE futures has also grown significantly in the derivatives market. Coinglass data shows that OI in PEPE futures increased 117.89% from $599.98 million on Wednesday to 636.78 million on Thursday. This rise in OI signals that new money is entering the market, which may support the ongoing rally and further increase the token’s price in the near term.

Bullish Sentiment Supported by Positive Funding Rates

Another positive indicator for PEPE is the recent flip to a positive funding rate. The OI-Weighted Funding Rate data from Coinglass shows that the metric has shifted to a positive rate of 0.0104%. This indicates that more traders are betting on increasing PEPE prices rather than falling. Positive funding rates typically signal that the market sentiment is bullish, and when this rate turns positive, it often precedes sharp price increases.

Conclusion

In conclusion, PEPE price rally has proven resilient, even as large sell-offs occurred in the market. The token’s ability to maintain its value and the growing market sentiment suggest that PEPE price could continue to rise in the coming days and weeks. With both short-term and long-term bullish patterns emerging, PEPE price remains one of the most exciting cryptocurrencies today. Traders and investors are closely watching to see how the price develops, with many anticipating further gains for the frog-themed meme coin in the near future.

Frequently Asked Questions (FAQ)

1- What is causing the PEPE price rally?

Growing investor interest, strong technical patterns, and a positive funding rate drive PEPE price rally. 

2- How much could PEPE’s price increase?

Short-term analysis suggests a 12.24% increase, potentially reaching $0.00001541. In the long term, if key resistance levels are breached, PEPE could rally by 91%, potentially hitting $0.00002836.

3- What is the significance of the positive funding rate?

A positive funding rate signals more traders betting on PEPE’s price rise, historically preceding sharp rallies.

4- What does the symmetrical triangle pattern mean for PEPE’s price?

It signals a potential breakout, with PEPE possibly rising by 12.24%.

Appendix: Glossary of Key Terms

PEPE Price Rally – A sustained upward movement in PEPE’s price over a given period.

Symmetrical Triangle – A technical chart pattern indicating potential price breakout due to converging support and resistance.

Bullish Formation – A chart pattern or market sentiment suggesting rising prices.

Resistance Level – A price level where upward movement is likely to encounter selling pressure.

Support Level – A price level where downward movement is likely to encounter buying pressure.

Breakout – When the price moves beyond a key resistance level, signaling potential for further upward momentum.

Open Interest (OI) – The total number of outstanding futures contracts, indicating market participation and interest.

Reference

AMB Crypto – ambcrypto.com