$PEPE Up 19% in seven days, but the funding rate is still stuck at 0.01%
Current price: $0.00000474, 24h +5.36%
PEPE pushed above the upper Bollinger Band today, with the daily chart showing a clean upward move.
The money behind this rally looks more like spot buying—there’s no sign of leveraged chasing, and the derivatives market is far too quiet.
The funding rate and open interest tell the story when viewed together: open interest isn’t small, and both sides are actively competing, yet the funding rate is just 0.01%. Neither side is adding to its position.
So this rally hasn’t built up a crowded, fee-paying long position. If the price turns down, there’ll be less fuel for a cascade of liquidations, so any pullback is more likely to be a slow grind.
The whale angle fits: a transfer of 72 trillion PEPE has drawn attention back to large holders, with speculation about whether Justin Sun is positioning himself. There are also reports of whales scooping up small-cap coins.
The daily MACD crossed bullish three days ago, with DIF above DEA. The histogram has printed higher for five consecutive days and is above the zero line—this points to strengthening, not exhaustion;
the 20-day moving average’s five-day slope has just turned upward. The trend is holding, but there isn’t much of a cushion.
The resistance level being watched above is 0.0000050, another 5.6% higher. First, it needs to clear 0.0000048, where the rally stalled on October 21.
I’m betting it will first test 0.0000050. If it holds above 0.0000048, I’ll keep holding;
#pepe