PEPE, the popular frog-themed memecoin, surged over 6% in the past 24 hours, supported by strong trading activity and resilient price defenses near key support levels.
Volatility Meets Strong Buyer Interest
PEPE’s price moved sharply between $0.00001198 and $0.00001308, reflecting a highly volatile 9% intraday range. Despite the swings, buyers consistently stepped in around $0.00001260, defending the token from deeper pullbacks. This level acted as a reliable support zone throughout the trading session.
According to technical models, resistance remains at $0.00001286, a level where algorithmic trading systems triggered two sharp reversals on above-average volumes. Still, firm bids held around $0.00001282, indicating confidence among market participants.
4.6 Trillion PEPE Tokens Traded
In a sign of rising activity, PEPE trading volumes exceeded 4.6 trillion tokens — a figure that, in dollar terms, rivals the daily turnover of some mid-cap U.S. equities. This underscores the growing participation of both retail traders and automated strategies in the memecoin sector.
Adding further bullish sentiment, PEPE balances on exchanges have declined 2.6% over the past 30 days, according to on-chain analytics platform Nansen. This trend suggests long-term holders are moving tokens to cold storage or decentralized wallets, reducing immediate selling pressure.
Memecoin Sector Momentum Builds
PEPE’s surge is part of a broader upswing in the memecoin space. The CoinDesk Memecoin Index’s 7.12% gain highlights renewed speculative interest and momentum-driven trading. PEPE remains a standout within this group, thanks to high liquidity, community support, and visibility across major exchanges.
While volatility remains high, recent market behavior points to accumulation near key support levels — a potentially bullish signal heading into the week’s close.
Conclusion
PEPE is once again attracting market attention, showing resilience in the face of volatility and a supportive technical setup. With exchange balances declining and volume rising, traders may see this as a precursor to a potential breakout if resistance is cleared in coming sessions.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.