Popular meme-inspired cryptocurrency PEPE rose more than 4% over the last 24 hours to trade up nearly 10% over the past week.
The surge comes amid renewed interest in meme tokens, with the CoinDesk Memecoin Index (CDMEME) rising more than 11% over the past week, outperforming bitcoin’s 1.4% move. Over 24 hours, the memecoin sector is up 2.5%, compared with BTC’s 0.2%.
PEPE rallied from $0.00001013 to $0.00001074, setting a new short-term resistance near $0.00001082, according to CoinDesk Research’s technical analysis data model. Trading activity spiked significantly, with over 5.89 trillion PEPE tokens changing hands during the peak of the rally, more than double the 24-hour average.
The price action shows a steady pattern of higher lows, a signal that buyers are stepping in consistently at increasingly elevated levels. That sort of structure is often interpreted as a sign of accumulation by more engaged investors.
During the most active phase of the move, the token also touched $0.00001081 before settling slightly lower. That quick spike drew a new resistance line while a firm support level emerged around $0.00001017.
These price boundaries, tested multiple times, help shape traders’ expectations about where the coin might go next.
The rally was marked by strong liquidity and sustained demand. Activity surged around several retests of the $0.00001069 mark, a level that held each time, reinforcing its strength.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.