Meme Coin PEPE Surges 2.5%, Outperforming Memecoin Index
Meme-inspired cryptocurrency PEPE surged over 2.5% in the last 24 hours, outperforming the CoinDesk Memecoin Index, which rose by 2.24%. The price increased from $0.00000969 to a high of $0.00001027.
- Trading volumes exceeded 314 billion tokens during a rapid price move.
- A trading range of $0.00001000 to $0.00001003 formed a temporary floor, with resistance near $0.00001007, indicating investor accumulation.
PEPE also outperformed the broader crypto market, as reflected by the CoinDesk 20 index's 1.8% rise.
- Whale accumulation contributed to the rise; top 100 PEPE addresses on Ethereum added 4.28% to their holdings in the last 30 days.
- Exchanges saw a 2.15% increase in PEPE holdings during the same period.
- Open interest for PEPE futures reached approximately $645 million.