PEPE’s market is in a tug of war, but what’s driving the memecoin’s volatility? – BitRss – Crypto World News
AMB Crypto 50 minutes ago 58
- PEPE has continued its positive uptrend after its decline on 05 December
- Memecoin’s market remains torn between longs and shorts
PEPE’s funding rate has seen dramatic shifts over the last 24 hours, underscoring the heightened volatility across the memecoin’s market.
Despite these fluctuations, however, the token’s price has moved positively on the price charts. In fact, analysts are closely watching its funding rates, Open Interest (OI), and broader market sentiment to anticipate its next moves.
PEPE’s funding rate swings and price correlation
An analysis of PEPE’s funding rate data revealed significant spikes, coinciding with its price hovering near the $0.000002200-mark. The chart showed that after a sharp drop to around 0.0309% during the last trading session, it spiked to 0.0800% at press time.
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