CandleFocus

14.2 Trillion PEPE Open Interest Offsets 12% Price Fall

Author: Content Editor
The cryptocurrency market is experiencing a significant liquidation amounting to over $540 million, leading to a change from the positive trend of "Uptober" to "Rektober." Despite a 12% price decrease in the meme coin PEPE, investors have found solace in the Open Interest (OI) figures, which indicate an increase of 14% in the 24-hour OI. This suggests that investors view the price slump as an opportunity to accumulate PEPE at a discount. PEPE has historically outperformed its peers and has maintained a growth rate of 13.71% over the past seven days, compared to its closest rival, Shiba Inu, which has recorded a 9% uptick. The attractiveness of PEPE for long-term growth is a major selling point that investors are leveraging, as seen in the uptick in Open Interest. Despite mixed performance metrics, the total number of Daily Active Addresses for PEPE has increased by 9.51% overnight, indicating positive sentiment in the ecosystem and the importance of retaining investor interest in the best-performing meme coin.

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