MEME-Inspired Cryptocurrency Pepe increased more than 2.5% in the last 24-hour period and surpassed the MEMECOIN sector measured by Coindesk Memecoin Index (CDMEME), which increased 2.24% over the same period.
The price ran from $ 0.00000969 to a high of $ 0.00001027, with trading volumes crossing 314 billion tokens during a quick price movement in the last trade hour, according to Coindesk Research’s technical analysis data model.
Trade activity in the range $ 0.00001000 to $ 0.00001003 created a temporary floor where resistance formed almost $ 0.00001007. This type of technical setup typically signalizes accumulation, a character investor is construction positions rather than turning to quick profits.
PEPE’s relocation also surpasses the wider cryptocurrency market, measured by Coindesk 20 (CD20) index, which increased 1.8% over the last 24 hours.
The increase appears to also be linked to growing whale accumulation. Data from Nansen shows that the top 100 PEPE addresses at the Ethereum network have added 4.28% to their inventory in the last 30 days, while stock exchanges have seen their Pepe Holding Lung 2.15% in the same period.
Open interest in Pepe Futures Products, meanwhile, has continued to rise to now stand near the market for $ 645 million according to Coinglass data.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
