As of March 13, the Pepe (PEPE) token has shown some signs of recovery, driven by technical indicators. Both the RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) indicate that a significant bullish move could be on the horizon for the token.
PEPE RSI and MACD analysis
At the moment, the RSI is at 35.70, which places Pepe in the area of the lows of this indicator. This indicates that the token is close to oversold area, which is a buy signal. A number below 30 suggests that the asset may be undervalued, which is generally a buy signal or a rebound signal. An increase in the RSI could be construed as a sign of increasing buying pressure that could cause the price to rise.
The MACD indicator also supports the possibility of a price shift. The MACD line remains below the signal line, but both lines are getting closer to the zero line. The narrowing gap implies that the bearish momentum may be weakening.
Moreover, three light red bars hint at lower selling pressure for a possible impulse to the upside. Based on the current values of the RSI and the MACD indicator, there are prospects for an increase in the price of the Pepe token in the short term.
Open Interest and market performance gain momentum
The recent open interest chart for Pepe (PEPE) futures reflects an interesting market dynamic that could indicate a bullish move for the token. According to Coinglass data, the open interest spiked dramatically in late 2023, which coincided with a notable price surge.
However, as the price declined, open interest also decreased, reaching a low of approximately $100 million by early 2025. Currently, open interest has started to rise again, standing at $178.22 million.
The Pepe (PEPE) token is priced at $0.057073, showing a 3.38% decrease over the past 24 hours. The market cap stands at $2.97 billion, reflecting a similar 3.38% decline. Trading volume over the last 24 hours has decreased by 23.20%, with $869.47 million traded, equating to 29.3% of the market cap.
The circulating supply of Pepe is 420.68 billion tokens, which is nearly equal to the maximum supply. Despite the recent price decline, the data suggests relatively stable market conditions with a consistent supply structure. The token’s price movement is currently experiencing downward pressure.
