The PEPE futures market has witnessed significant fluctuations in open interest, reflecting changes in trader participation. According to Coinglass data, open interest stood at approximately $72 million in April before surging to nearly $300 million between May and June.
PEPE open interest trends and market activity
In October, trading activity intensified, leading to a renewed rise in open interest and price. By November and December, open interest peaked above $500 million, corresponding to heightened market engagement.
In early 2025, open interest fluctuated but remained elevated. As of March 6, at the time of press, open interest had dropped to $189.98 million, with PEPE trading at $0.0000071. The decline from peak levels indicated a contraction in both price and market participation.
Technical indicators and market momentum
TradingView data shows key technical indicators providing insight into PEPE’s momentum. The Relative Strength Index (RSI) stands at 36.03, below the neutral 40 level, indicating weak buying momentum. Values below 30 signal oversold conditions, while those above 70 indicate overbought levels. A slight upward shift in the RSI at 35.90 suggests an attempt at stabilization.
The MACD (Moving Average Convergence Divergence) histogram remains in negative territory, with the MACD line at -0.00000109 and the signal line at -0.00000111. Red bars on the histogram confirm ongoing downward momentum. However, the MACD line is nearing a crossover with the signal line, potentially signaling a short-term trend change.
Current price and market performance
CoinMarketCap data shows PEPE trading at $0.00000719, reflecting a 1.70% intraday rise. The price remains in a downtrend but could see a shift if the RSI moves above 40 and the MACD confirms a bullish crossover. Failure to sustain above key levels may push the price toward $0.00000500.
Current market capitalization equals to $3.02 billion, while the circulating supply is 420.68 trillion tokens. The daily trading volume in the exchange came to $533.28 million, down by 35.32%. The volume to market cap ratio is low at 17.62 % signifying that it records a substantial trading volume as compared to the market capitalization. It shows that many people have continued to be holders; there are currently 410.32K holders.
