Meme-inspired cryptocurrency PEPE rose more than 2.5% in the last 24 hours, outperforming the CoinDesk Memecoin Index (CDMEME), which gained 2.24% over the same period.
The token climbed from $0.00000969 to an intraday high of $0.00001027, with trading volumes exceeding 314 billion tokens during a rapid surge in the final hour of trading, according to CoinDesk Research’s technical analysis. Price activity between $0.00001000 and $0.00001003 established a temporary support floor, while resistance formed near $0.00001007, suggesting 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%.
Whale activity is a key driver. Nansen data shows the top 100 PEPE addresses on Ethereum increased holdings by 4.28% over the past 30 days, while exchanges added 2.15%. Open interest in PEPE futures has climbed to nearly $645 million, according to CoinGlass.
