Recently, Pepe(PEPE) has performed exceptionally well in this wave of market activity — while most cryptocurrencies are still struggling in the mud, it has been soaring all the way. In just seven days, it has increased by 65%, becoming a leader among mainstream meme coins.

This upward momentum has attracted a lot of attention. According to on-chain data analysis platform tracking, PEPE's open interest hit a new all-time high on January 3rd, with futures holdings soaring to 75 trillion tokens. The price also rebounded to around $0.000060, prompting leveraged funds to follow suit.

Interestingly, the big players are not just paying attention to the price figures; they are more focused on changes in open interest. This indicator filters out the noise from price fluctuations and directly reflects the true intentions of large-scale capital. Based on current data, signs of institutional positioning are quite evident — they are preparing for the next rally in advance.

As the shorts are gradually squeezed out, market momentum continues to heat up. The question now is no longer whether PEPE can rebound, but how high this rally can go. From a technical perspective, if the price successfully breaks through the 200-day moving average, there is theoretically another 31% upside. From the daily chart, the coin has recently broken through the downward wedge resistance — often a precursor to a reversal signal.

Market enthusiasm is rapidly building, and the subsequent trend is definitely worth continued observation.