Meme-inspired cryptocurrency PEPE surged more than 2.5% in the past 24 hours, outpacing the CoinDesk Memecoin Index (CDMEME), which rose 2.24% during the same period.
The token climbed from $0.00000969 to an intraday high of $0.00001027, with trading volumes topping 314 billion tokens in the final hour of trading, according to CoinDesk Research’s technical analysis. Trading activity between $0.00001000 and $0.00001003 established a temporary floor, while resistance formed near $0.00001007—signaling accumulation as investors build positions rather than flip for quick profits.
PEPE also outperformed the broader cryptocurrency market, with the CoinDesk 20 (CD20) index rising 1.8%.
Growing whale activity appears to be a key factor. Data from Nansen shows the top 100 PEPE addresses on Ethereum increased holdings by 4.28% over the past 30 days, while exchange wallets added 2.15%. Open interest in PEPE futures has climbed to nearly $645 million, according to CoinGlass.
