Recently, the cryptocurrency market has witnessed a notable change. In the past 24 hours, the price of Pepe (PEPE) has risen significantly by 5.7%, and its volume has rebounded sharply from recent lows, with a trading amount surpassing $500 million. This sudden market shift has sparked discussions among industry insiders.

A well-known cryptocurrency analyst with 146,000 followers on social media recently shared his views. He pointed out that a positive signal has appeared on the daily chart of PEPE. According to the TD Sequential indicator, a buy signal was generated when the price of PEPE reached $0.00001064. This indicator is typically used to predict reversals in price trends, and currently, this signal has brought about a 2% profit for investors.

Analysts further stated that if the trading volume of PEPE can reach the level of 1 billion USD in the next round, the credibility of this upward trend will be greatly enhanced. Historical data shows that significant increases in PEPE are usually accompanied by such high trading volumes.

However, the data from the futures market seems to convey some different information. Open interest has decreased by 41% from a recent high of 1 billion USD, indicating that many traders remain cautious about the continued rise of PEPE.

If the current buy signal can be sustained, it is expected that PEPE will reach around $0.00001200 in the next few days, with about 11% upside potential in the short term.

From the 4-hour chart, the PEPE coin has strongly rebounded from the key psychological price of $0.00001000. The current buying enthusiasm seems sufficient to support its temporary bottom formation. However, there is still uncertainty in the market direction, and investors need to closely monitor subsequent developments.

Overall, the recent price trend and surge in volume of PEPE coin have indeed attracted market attention. However, considering the high volatility of the encryption currency market, investors should remain cautious when making decisions and comprehensively assess the risks.