Pepe (PEPE) Price Surges 40% as Memecoin Market Returns to Focus

The memecoin market is back in focus after Pepe recorded a dramatic 40% surge in the past 24 hours, outperforming Dogecoin, Shiba Inu, and other top tokens.

The memecoin market is back in focus today after a dramatic 40% surge saw Pepe outperform Dogecoin, Shiba Inu, and other top tokens.

The broader altcoin rally followed Bitcoin’s break past the $100,000 level and Ethereum crossing $2,200.

As a result, memecoins are now leading gains across decentralised finance, with some tokens recording double-digit increases in a matter of hours as renewed investor confidence returns.

Pepe, one of the more volatile assets in the segment, has just punched through a critical resistance at $0.000009 amid rising whale accumulation and a 150% jump in trading volumes.

Technical indicators suggest this breakout could lead to a major price discovery phase and potentially a new all-time high for the token.

Whale demand and volume boost breakout

Trading volume for Pepe skyrocketed as larger investors, often called ‘whales’, began accumulating substantial amounts of the token.

The breakout above $0.000009 was a major technical milestone, as this level had acted as a stubborn resistance in the past.

This price move was also accompanied by a huge surge in volume, with trading activity increasing around 150%.

According to crypto analytics platforms, whale wallets were spotted buying millions of dollars’ worth of Pepe, which helped drive momentum past key price levels.

At the time of writing, PEPE is trading at $0.00001334, having now surpassed the $0.000011 range that previously marked the token’s April high.

Technicals point to next leg of bull run

Pepe’s price chart shows a classic double-bottom reversal formation, with the neckline recently breached. Weekly technical indicators are also supporting a bullish continuation.

The Relative Strength Index (RSI) is showing a breakout into overbought territory, while the MACD has flipped bullish with a crossover above the signal line.

The token is currently testing its 200-day moving average on the weekly timeframe.

If it manages to sustain support above this level, analysts suggest a move towards $0.00001712 could be on the cards, followed by a continuation to $0.00002118.

Beyond that, the chart suggests Pepe could test the resistance channel top at around $0.00006, which would mark a new all-time high and potentially attract fresh speculative capital.

Memecoin sector gains accelerate

The broader memecoin sector has seen some huge gains in the past 24 hours.

BOOK OF MEME (MEME) surged 30%, Fartcoin (FRT) and Mog Coin (Mog) both added 20%, and FLOKI (FLOKI) rose 18%.

Several other tokens, including some of the top 100 cryptocurrencies by market cap, registered 15% gains or more.

The rally is being fuelled by Bitcoin’s strength, which is usually a catalyst for speculative altcoins.

Ethereum’s move above $2,200 has also restored confidence in riskier crypto assets, especially tokens with strong community backing like Pepe and others that have experienced prior bull cycles.

Unlike some of the smaller tokens, Pepe has managed to break key resistance with strong on-chain activity.

The bullish divergence across technical indicators hints at sustained buying interest, particularly as the meme sector enters what some traders call a “parabolic” phase with high volatility.