Meme-inspired cryptocurrency PEPE gained over 2.5% in the past 24 hours, outperforming the CoinDesk Memecoin Index (CDMEME), which rose 2.24% in the same period.
The token moved from $0.00000969 to a high of $0.00001027, with trading volumes exceeding 314 billion tokens during a sharp surge in the final hour of trading, according to CoinDesk Research’s technical model. Activity between $0.00001000 and $0.00001003 established a temporary support floor, while resistance formed near $0.00001007—indicating accumulation as investors build positions rather than flip for quick profits.
PEPE also outperformed the wider cryptocurrency market, with the CoinDesk 20 (CD20) index rising 1.8% over the same period.
Whale activity appears to be driving the rally. Nansen data shows the top 100 PEPE addresses on Ethereum increased holdings by 4.28% in the past 30 days, while exchanges added 2.15%. Open interest in PEPE futures continues to rise, now nearing $645 million, according to CoinGlass.
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