Meme-inspired cryptocurrency PEPE climbed more than 2.5% in the past 24 hours, outperforming the broader memecoin sector, with the CoinDesk Memecoin Index (CDMEME) up 2.24% over the same period.

The token surged from $0.00000969 to a high of $0.00001027, with trading volumes surpassing 314 billion tokens during a rapid price move in the final hour of trading, according to CoinDesk Research’s technical analysis. Trading activity in the $0.00001000–$0.00001003 range formed a temporary floor, while resistance emerged near $0.00001007—a technical pattern often signaling accumulation rather than short-term flipping.

PEPE also outpaced the broader cryptocurrency market, with the CoinDesk 20 (CD20) index rising 1.8% in the same period.

Whale activity appears to be a key driver. Data from Nansen shows the top 100 PEPE addresses on Ethereum added 4.28% to their holdings over the past 30 days, while exchange wallets increased their PEPE holdings by 2.15%. Open interest in PEPE futures also continues to climb, now approaching a $645 million market, according to CoinGlass.