Shiba

PEPE

Daily

Trillion

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<p dir="ltr">The broader market’s "Uptober" reality is changing to "Rektober" as&nbsp;<a href="https://u.today/from-uptober-to-rektober-500000000-in-crypto-market-liquidations" rel="noopener noreferrer nofollow">market liquidation</a> tops $540 million. PEPE is in the spotlight in the meme coin world despite its price falling by more than 12% in 24 hours to $0.000009588. While this metric points to a major drawdown, investors have found solace in the Open Interest (OI) figures,&nbsp;<a href="https://www.coinglass.com/BitcoinOpenInterest" rel="noopener noreferrer nofollow">per</a> CoinGlass data.</p>
<h2 id="lower-the-pepe-price-the-better">Lower the PEPE price, the better</h2>
<p dir="ltr">PEPE investors are hyped about the coin, as the price drawdown appears to be fueling new accumulation trends. As of the time of writing, the PEPE 24-hour OI is up by 14%, with a total of 12.2 trillion tokens wagered.</p>
<p dir="ltr">Though this indicator is highly volatile, it underscores how investors consider the price slump a major discount for buying PEPE. The token has a historically high chance of growth as it has outperformed some of its peers over the past few months.</p>
<p dir="ltr">Despite the recent price drawdown, the token has maintained 13.71% growth over the past seven days. This growth rate compares with the 9% uptick that its closest rival, Shiba Inu, has recorded within the same period. The&nbsp;<a href="https://u.today/pepe-might-clear-one-zero-when-price-hits-8-week-high" rel="noopener noreferrer nofollow">attractiveness of PEPE</a> in the long term is a major selling point, one that investors are leveraging, as displayed by the Open Interest uptick.</p>
<h2 id="other-pepe-metrics-to-watch">Other PEPE metrics to watch</h2>
<p dir="ltr">Most performance metrics are mixed at a time of intense volatility on the market. However, for PEPE, IntoTheBlock data shows that the total number of Daily Active Addresses has jumped by 9.51% to 3,380 overnight.</p>
<p dir="ltr">This metric is valid for judging the overall sentiment in the ecosystem. Given the time required to make the <a href="https://u.today/meme-coins-outperforming-heres-who-leads-way" rel="noopener noreferrer nofollow">best-performing meme coin</a> practical again, these metrics are essential to retaining investors' interest.</p>

14.2 Trillion PEPE Open Interest Offsets 12% Price Fall

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