Pepe’s price has surged this week, driven by Bitcoin’s recovery from this month’s low of $53,700 to over $65,000.

The PEPE (PEPE) token bottomed at $0.00000767 on July 5 but has since gained 57% to trade at $0.000012 on Thursday, marking its highest level since June 28th. 

Analysts are bullish on Pepe price

Analysts are optimistic about Pepe’s price movement, noting that it has become the most actively traded meme coin. Data indicates that Pepe’s trading volume rose to over $1.2 billion on Thursday, surpassing Dogecoin’s $734 million and Shiba Inu’s $814 million.

Additional data from Coinglass shows that open interest in Pepe futures has increased to its highest point since June 7, reaching $148 million, primarily on OKX and Bitget. Open interest is often a good predictor of …