The frog-themed meme coin PEPE has surged 11% in the past 24 hours, dramatically outperforming major meme assets like Dogecoin (DOGE) and Shiba Inu (SHIB). While DOGE managed a modest 3% gain and SHIB edged up just 1%, PEPE has leaped into double-digit growth—igniting renewed investor interest and speculation around its next price move.
This explosive momentum isn’t random. Behind the scenes, a wave of strategic accumulation by crypto whales has laid the foundation for PEPE’s bullish breakout. As demand surges and technical indicators flash green, the market is watching closely to see if this rally can be sustained.
Whale Activity Fuels PEPE’s Momentum
The recent spike in PEPE’s price is closely tied to a surge in large-scale purchases by high-net-worth investors—commonly referred to as “whales.” On-chain data reveals that three major wallets recently acquired a combined 689.79 billion PEPE tokens, worth approximately $5 million at current market rates.
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According to blockchain analytics platform Lookonchain, these funds originated from Tornado Cash, a privacy-focused crypto mixer. While this has raised eyebrows in the community, the focus remains on the impact: massive capital inflow directly boosting demand.
The breakdown of the buys:
- Wallet 0x7A7D spent 1,413.4 ETH (valued at $2.72 million) to acquire 437.7 billion PEPE
- Wallet 0x9212 purchased 158.58 billion PEPE for $1 million
- Wallet 0x7779 bought 93.51 billion PEPE at a cost of $574,000
Such concentrated buying from deep-pocketed players often precedes broader market rallies. When whales accumulate, it typically signals confidence in future price appreciation—especially when accompanied by rising trading volume and open interest.
Volume and Open Interest Confirm Growing Interest
Over the past 24 hours, PEPE’s daily trading volume has surged by 18%, reaching $1.05 billion. This simultaneous rise in price and volume is a classic sign of strong market demand and active buyer participation.
In traditional technical analysis, when both price and volume climb together, it confirms the strength of the trend. In PEPE’s case, this suggests more than just retail FOMO (fear of missing out)—it points to institutional-grade interest building beneath the surface.
Equally telling is the rise in open interest within PEPE’s futures market. Currently sitting at $120 million, open interest has skyrocketed 21% in just one day. This metric reflects the total value of outstanding derivative contracts and serves as a proxy for investor commitment.
When open interest increases during a price rally, it indicates fresh capital entering the market—rather than traders simply closing positions. If macroeconomic conditions remain stable and sentiment stays positive, this could pave the way for further upside.
Bullish Technical Signals Emerge
Beyond on-chain data, technical indicators are now aligning to support a sustained recovery for PEPE.
One of the most significant signs comes from the Elder-Ray Index, which has turned positive for the first time since January 19. This indicator evaluates market strength by comparing an asset’s price to its exponential moving average (EMA), measuring the power of bulls versus bears.
A positive reading means bulls are regaining control—suggesting upward momentum is building. For PEPE, this shift could be a turning point after months of sideways or declining movement.
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If bullish pressure continues, analysts project PEPE could target resistance near $0.0000083**—a roughly 25% increase from current levels. However, should buying momentum falter, support at **$0.0000062 will be critical. A breakdown below that level could open the door to a retest of $0.0000048, a multi-month low.
Market Sentiment Turns Optimistic
After prolonged consolidation and bearish sentiment throughout early 2025, confidence in meme coins appears to be returning. PEPE’s performance stands out not just for its percentage gain but for its ability to draw attention away from more established players like DOGE and SHIB.
This shift underscores a broader trend: investors are increasingly looking beyond legacy meme coins toward assets with stronger catalysts, tighter supply dynamics, and clear momentum drivers.
PEPE benefits from several advantages:
- Strong community engagement
- Low circulating supply relative to total supply
- Growing presence on decentralized exchanges (DEXs)
- High volatility potential attractive to speculative traders
These factors make it a prime candidate for rapid price movements when triggered by whale activity or broader market shifts.
Frequently Asked Questions (FAQ)
What caused PEPE’s 11% price surge?
The surge was primarily driven by large-scale purchases from three whale wallets totaling $5 million in PEPE tokens. This influx of capital boosted demand and triggered follow-on buying from retail investors.
Is PEPE a good investment right now?
While past performance doesn’t guarantee future results, current indicators—including rising volume, open interest, and a positive Elder-Ray Index—suggest bullish momentum. However, all investments carry risk, especially in volatile markets like meme coins.
How does whale activity affect meme coin prices?
Whale buys often act as catalysts, signaling confidence and attracting attention. Large purchases can create upward price pressure and trigger FOMO among smaller investors, amplifying gains.
Can PEPE surpass Shiba Inu or Dogecoin?
While unlikely in market cap anytime soon, PEPE has shown stronger short-term performance due to targeted speculation and tighter tokenomics. It may continue outperforming them in percentage gains during bullish cycles.
Where can I track real-time PEPE data?
You can monitor PEPE’s price, volume, whale transactions, and on-chain metrics using platforms like Santiment, CoinGlass, and TradingView. Many also offer alerts for large wallet movements.
Should I trade PEPE futures?
Futures trading offers leverage but comes with higher risk. With open interest rising, liquidity is improving—but only experienced traders should consider leveraged positions after thorough research.
Final Thoughts: A Meme Coin With Real Momentum?
PEPE’s latest rally isn’t just noise—it’s backed by measurable on-chain activity, growing trader interest, and improving technical structure. While meme coins remain speculative by nature, the current confluence of whale accumulation, rising volume, and bullish indicators paints a compelling picture.
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Whether you're a short-term trader or watching long-term trends, PEPE has re-entered the spotlight as one of the most dynamic players in the meme coin space. As always, conduct your own due diligence and consider risk management before entering any position.
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