Pepe Coin soars to One-Month High Amid supply Drop and Investor Confidence
Pepe Coin (PEPE) recently experienced a notable surge, hitting a one-month high thanks to a massive drop in supply and soaring interest. On September 13, the coin reached $0.00001200, with trading volume surpassing $1.34 billion.
The success wasn’t limited to spot markets—Pepe’s futures open interest also reached July highs at over $765 million, up from $500 million just a week ago. Meanwhile, more than 1.1 trillion Pepe tokens moved out of exchanges, cutting the total exchange reserve to 255.9 trillion.
This reduction in exchange reserves indicates growing investor confidence. As they shift tokens to personal wallets rather than sell, demand strengthens. Technical analysis on the daily chart shows Pepe breaking through a falling wedge pattern.
Key points:
- Trading volume beats competitors like Shiba Inu and Pudgy Penguins.
- Derivatives data reflect increased demand for Pepe.
- Price forecasts remain bullish, targeting $0.00001475.
Beyond market performance, the Pepe mascot has faced scrutiny following recent incidents involving Charlie Kirk and the Groyper movement. While unrelated to the coin’s financial metrics,such associations can influence public perception.
Despite these challenges, Pepe’s remarkable gains signal strong market support. Provided that the price stays above strategic trendlines, its bullish trajectory appears secure.
