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$PEPE is up 5% on April 16, with the MACD turning positive on the daily for the first time since February as OKX adds $PEPE to its regulated European derivatives platform.
$PEPE Daily Chart: First Bullish MACD Cross Since February With Four EMAs Above
The descending channel from the August peak near $0.000015 remains the dominant structure on the daily. Price has been trading near the bottom of that channel since February, unable to push toward the midline, with four EMAs sitting above as resistance: 20-day at $0.0000357, 50-day at $0.0000364, 100-day at $0.0000407, and 200-day at $0.0000532.
The one development that changes the near-term read is the MACD. The fast line crossed above the signal line this week and the histogram turned positive, the first bullish cross on the daily since February. That February cross preceded a sharp move toward $0.0000700 in January. Price at $0.0000391 now sits just above the 20-day EMA at $0.0000357, which is acting as support rather than resistance for the first time since October. The next test is the 50-day at $0.0000364, then the 100-day at $0.0000407.
Above those two, the descending trendline from August cuts across near $0.0000420 to $0.0000450 and is the level that would need to break for the channel structure itself to shift.
Key levels for April 17
- 20-day EMA support: $0.0000357
- 50-day EMA: $0.0000364
- 100-day EMA: $0.0000407
- Descending trendline: $0.0000420 to $0.0000450
- 200-day EMA: $0.0000532
- Channel floor: $0.0000300
- February low: $0.0000280
OKX Lists $PEPE On Its MiFID-Regulated European Derivatives Platform
OKX launched X-Perps across all 30 EEA countries through its Malta-based MiFID-licensed entity, listing $PEPE at launch alongside BTC, $ETH, XRP, and DOGE. The product offers five-year expiry futures with up to 10x leverage and multi-asset collateral including euros, dollars, and crypto.
OKX Europe CEO Erald Ghoos explained at Paris Blockchain Week that perpetual contracts cannot exist under MiFID II, so X-Perps was structured as a five-year expiry futures contract to stay compliant. He estimates 95% of crypto derivatives volume still trades offshore and expects regulated platforms to pull a meaningful share back. For $PEPE, inclusion at launch gives European traders regulated access to meme coin derivatives exposure for the first time.
Why Did Steve Aoki Sell His $PEPE?
Arkham Intelligence data shows Aoki’s wallet sold 4.155B $PEPE through 1inch for $14,700 two weeks ago, alongside 1.785B SHIB and 7.25 $ETH, with proceeds routed to Gemini. Aoki paid over $800,000 for seven Bored Ape NFTs in 2021. Those NFTs are now worth roughly $97,000 combined, an 88% loss.
The $PEPE sale is small in dollar terms but reflects a broader pattern. The celebrity cohort that entered crypto in 2021 is quietly exiting whatever remains. Sustained $PEPE recovery depends on derivatives demand and regulated market access, not celebrity positioning.
$PEPE Derivatives: Shorts Taking Six Times More Pain As OI Hits December Highs
Volume jumped 51.00% to $849.86M while OI rose 22.84% to $224.43M. Both rising together points to fresh positioning entering on the move. Long/short ratio at 1.0387 is flat, with OKX accounts long at 2.47.
Shorts absorbed $1.25M in 24-hour liquidations against $203.04K for longs, taking six times more pain. OI at $194.69M is the highest since December, confirming new capital is entering rather than old positions closing.
$PEPE Price Prediction: April 17 Outlook
- Upside: MACD holds positive and $PEPE closes above the 50-day EMA at $0.0000364, clearing the first resistance layer. The 100-day at $0.0000407 is the next test, then the descending trendline at $0.0000420 to $0.0000450. OKX X-Perps adding European derivatives demand keeps fresh positioning entering the market, and shorts continuing to absorb the bulk of liquidations puts upward pressure on price.
- Downside: MACD cross fades before price clears the 50-day, the 20-day EMA at $0.0000357 breaks on a daily close, and $PEPE slides back toward the channel floor at $0.0000300. A close below that opens the February low at $0.0000280 with nothing in between to slow the move.