Open Interest adds to the bullish reversal case A

Open Interest adds to the bullish reversal case

Another strong bullish sign is the sudden spike in PEPE’s Open Interest. The metric reflects the total number of active Futures contracts and is often a proxy for market sentiment.

In PEPE’s case, the rising Open Interest suggests that the memecoin traders and investors alike are positioning for a significant price move, especially when coupled with increased whale transactions.

So, the convergence of on-chain interest and technical positioning is not something to be easily disregarded.