PEPE Tops Memecoin Gains as Whales Increase Holdings

Meme-inspired cryptocurrency PEPE jumped over 2.5% in the last 24 hours, outpacing the CoinDesk Memecoin Index (CDMEME), which rose 2.24% in the same period.

The token advanced from $0.00000969 to an intraday high of $0.00001027, with trading volumes surpassing 314 billion tokens during a sharp rally in the final hour of trading, according to CoinDesk Research’s technical analysis. Activity between $0.00001000 and $0.00001003 created a temporary support floor, while resistance emerged near $0.00001007, indicating accumulation as investors build positions rather than flip for short-term gains.

PEPE also outperformed the broader crypto market, with the CoinDesk 20 (CD20) index rising 1.8% over the same period.

Whale accumulation continues to drive momentum. Nansen data shows the top 100 PEPE addresses on Ethereum increased holdings by 4.28% over the past 30 days, while exchange wallets added 2.15%. Open interest in PEPE futures has risen to nearly $645 million, according to CoinGlass.