$PEPE 🔥just ripped 12%… but this rally still has one big problem.
Perp traders are clearly turning bullish.
Around $84.44M flowed into perpetuals, while Open Interest jumped 8.18% to $219.23M.
That’s aggressive positioning behind the move.
But spot isn't fully confirming it yet.
Recent spot selling reached roughly $2.65M, while the latest net accumulation is only around $660K.
So here's the battle:
Bulls need spot buyers to step in hard and support the perp-driven momentum.
Bears need that spot weakness to continue and expose the rally as leverage chasing price.
There’s also no major liquidity cluster above, while the clearer downside area sits near $0.0000026.
Right now, PEPE is running on momentum.
Will real spot demand catch up… or are longs about to discover they chased the move too late?
Perp traders are clearly turning bullish.
Around $84.44M flowed into perpetuals, while Open Interest jumped 8.18% to $219.23M.
That’s aggressive positioning behind the move.
But spot isn't fully confirming it yet.
Recent spot selling reached roughly $2.65M, while the latest net accumulation is only around $660K.
So here's the battle:
Bulls need spot buyers to step in hard and support the perp-driven momentum.
Bears need that spot weakness to continue and expose the rally as leverage chasing price.
There’s also no major liquidity cluster above, while the clearer downside area sits near $0.0000026.
Right now, PEPE is running on momentum.
Will real spot demand catch up… or are longs about to discover they chased the move too late?