Pepe Coin price has dropped by 5.3% today, July 23, to trade at $0.0000131. Usually, such a drop happens at the same time that open interest is dropping, but this is not the case this time around, after this metric increased to an all-time high of more than $1 billion.
Pepe Coin Price Eyes Triangle Breakout to $0.00005
Pepe Coin has made the first step towards gaining, and this is its three consecutive touches of the resistance in the symmetrical triangle since March 2025. This might be what buyers have been waiting for before showing their hand, and it might also be the calm before the storm that leads to an explosive PEPE rally.
However, moving past this resistance will not be an easy thing for the top meme coin because it has not been able to cross it since January 2025. In January, May, and again last week, bulls retreated when Pepe Coin price touched this resistance, and if there is a shift in the market sentiment, especially around meme coins, and PEPE moves above $0.0000147, the price could increase more than 253% and reach $0.000050.
Looking at the OBV, it is evident that buyers have been silently buying even if there is no evidence of this in the price performance. If this continues, the price might just explode, and this will not only fulfill the short-term bullish outlook seen here but also affirm a positive Pepe Coin price forecast for 2025 and beyond.
Open Interest, Whales May Drive PEPE Rally
PEPE’s open interest has increased, and it moved above $1 billion for the first time today, July 23, per Coinglass data, indicating hunger among traders looking to be early in betting on how PEPE will perform in the future. However, this increase is a double-edged sword because when these traders panic and start to sell, it will create pain for those who have been holding, expecting meaningful profits.
Nevertheless, whales are not panicking, and they are showing strong hands due to a surge in transactions by more than 107% from 6.04 trillion to 12.56 trillion. This activity could be both bullish and bearish in that if these whales are quietly stacking up more PEPE, the current dip might just be a pause before the next big move up, but if they’re offloading their bags, things could get rough, and holders might remain in the red for a while before seeing any real recovery.
To sum up, the Pepe Coin price might be dropping today, but there are signs to indicate that recovery is possible if traders use the current dip to buy, which might take the price to $0.000050. However, this all hinges on whales being active and stepping in like they have been doing in the last two days.
Frequently Asked Questions (FAQs)
Pepe Coin price can recover after the recent dip if traders begin to accumulate more tokens now, and the price moves above $0.0000147.
The surging open interest is bullish for PEPE price and shows that there is high trader conviction on how the meme coin will perform in the future.
The next PEPE price rally will likely be driven by buying pressure that creates a short squeeze and whale activity.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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