- PEPE surged 9% in 24 hours with over $1 billion in trading volume, making it the top gainer on CoinMarketCap.
- Strong spot accumulation and bullish Futures activity suggest the rally could continue if momentum holds.
Pepe (PEPE), the popular meme coin, has taken the crypto spotlight once again after leading the market with a sharp 9.23% price surge in just 24 hours. With over $1 billion in trading volume, PEPE not only topped CoinMarketCap’s list of top gainers but also positioned itself as the only token in that list to surpass this volume milestone.
This impressive uptick has captured the attention of traders and analysts alike. According to AMBCrypto, the rally is being powered by a blend of heavy accumulation and bullish Futures trading activity — a combination that could signal a sustained uptrend.
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Volume Confirms the Hype
The 46% spike in trading volume isn’t just noise. When rising prices coincide with growing volume, it often indicates that the market momentum is real and not just a flash in the pan. Analysts are now speculating that PEPE’s recent move could spark a broader rally across the meme coin sector.
Futures data reinforces this outlook. Over the past day, short sellers suffered $2.55 million in losses, while long positions lost only $708,000 — a strong indicator of bullish dominance. The long-to-short ratio stands at 1.06, suggesting more than half of traders are betting on continued gains.
Bullish Funding and Accumulation Surge
Supporting this narrative is the Open Interest-Weighted Funding Rate, which has remained positive for three straight days. This green signal suggests that leveraged traders are paying to maintain their long positions — a further vote of confidence in PEPE’s upward potential.
Spot market activity is just as telling. In the past 24 hours, long-term holders have moved $6 million worth of PEPE into private wallets, signaling strong accumulation. If this trend continues, it could lead to a supply crunch — driving prices even higher.
What’s Next for PEPE?
With bullish momentum in both the spot and Futures markets, and rising confidence among long-term holders, PEPE’s rally might still have room to run. However, as always in crypto, momentum can shift quickly — so traders should stay alert.