$1000PEPE’s rally has some real strength behind it. On the 15m chart, volume surged 2.56x and price pushed higher, with the close breaking above the highs of the last 20 5m candles. The taker buy/sell imbalance is 22.1%, and the buy/sell ratio is 1.57—buyers are genuinely chasing.
More interestingly, its OI anomaly percentile hit 97.4%, ranking #18 across the pool and #12 for notional change. OI is rising along with price, which looks less like short covering and more like new leveraged longs entering. OI dipped slightly on the 1h chart, but notional change is still positive, so the structure remains intact.
24h trading volume is 135 million, so there’s enough liquidity. The question is whether this move keeps squeezing shorts higher or first shakes out the late buyers before continuing. Keep an eye on how price reacts around the previous high.
More interestingly, its OI anomaly percentile hit 97.4%, ranking #18 across the pool and #12 for notional change. OI is rising along with price, which looks less like short covering and more like new leveraged longs entering. OI dipped slightly on the 1h chart, but notional change is still positive, so the structure remains intact.
24h trading volume is 135 million, so there’s enough liquidity. The question is whether this move keeps squeezing shorts higher or first shakes out the late buyers before continuing. Keep an eye on how price reacts around the previous high.