Pepe and Bonk have been experiencing price uptrends in the last few days, and traders have kept their sentiments positive.
are two meme coins that have experienced notable price movements in recent weeks. Data indicates that both have seen significant activity in Open Interest.AMBCrypto’s analysis of Pepe’s Open Interest revealed that it reached a historical high of $189.5 million on the 28th of May. However, this figure has since declined, and was around $180 million at press time.This indicated a significant cash inflow into both meme coins, suggesting a surge in interest over the last few days.
These metrics suggested that both meme coins were experiencing more buying pressure than selling pressure at the time of writing. This indicated a prevailing belief among traders that the prices of these meme coins will continue to rise, leading to a dominance of buyers in the market.price trend on a daily timeframe showed that it had reached several all-time highs in recent days. However, it has experienced a trend reversal in the last 24 hours.
On the 28th of March, the price dropped by 4.25%, and until press time, it had decreased by over 4%, trading at around $0.000015. Despite this decline, Pepe remained in a strong bull trend. Its Relative Strength Index fell slightly below 70, indicating it has just dipped below the overbought zone.As of this writing, it was trading with a slight increase of less than 1%, around $0.000041. If this positive trend continues, it will mark the third consecutive day of a new ATH.Bonk was also in a strong bull trend at the time of writing, with its RSI indicating an overbought condition.
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