Meme-inspired cryptocurrency PEPE experienced a price increase of over 6% in less than 24 hours.
The price rose from $0.000009138 to $0.000009627, with trading volumes nearly tripling to 5.61 trillion tokens.
This surge occurred during a broader crypto market shift, with the CoinDesk 20 index rising by over 4.3%.
High-risk altcoins like PEPE received capital inflow, boosting prices across the memecoin space, as evidenced by a near 5% rise in the CoinDesk Memecoin Index.
Whale accumulation contributed to the rally, with the top 100 non-exchange Ethereum addresses increasing their holdings by 3.4% while exchange wallets saw a 2% decrease.
Current support is around $0.00000900, and resistance is at the session high of $0.000009681.
Open interest for PEPE futures products has risen, now nearing the $600 million mark.
