Memecoin $PEPE hit a market cap of $5.29 billion today after a sharp move in volume and price, the coin’s tracker shows. The token trades at $0.00001259 and is up 13.26% over the past day.
Trading volume over 24 hours jumped to $1.09 billion, a rise of 42.05% that helped push the unlocked market cap to $5.25 billion. The surge comes after weeks of volatility that saw the meme coin fall and then recover, drawing fresh interest from retail traders and whales.
Recent moves and market action
PEPE’s price has been through big swings in a short span. Small holders have piled in, whereas whales have shifted their positions, and that mix has driven both big intraday moves and quick rebounds.
Traders point to technical signals and onchain flows as reasons for the renewed buying. The daily chart shows momentum that some analysts call bullish.
Why whale behaviour matters?
A key concern is the drop in whale dominance. Major holders now control roughly 43% of the circulating supply. That is a two-year low for whale ownership, and when a few large holders control supply, they can steady prices.
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With less whale control, retail traders now set much of the day-to-day volume. That raises the odds of more extreme swings. It also means sharp sell-offs could happen faster, and liquidity can thin quickly when big holders step back.
Analyst view
Analyst Ali Martinez flagged a potential rebound. He said, “$PEPE could be gearing up for a rebound as the TD Sequential flashes a buy signal on the daily chart!”
Traders who follow Martinez say the signal often marks short-term buying opportunities. Others caution that technical buys can reverse quickly when liquidity is thin.
What does this mean for investors?
For investors, the picture is mixed, and strong volume and fresh momentum can offer quick gains. But the lower whale dominance raises risk, and retail-driven markets can move fast and may lack deep support at lower prices.
That creates a higher chance of sharp drops, and investors should size positions accordingly and use risk limits. Those who plan to hold through swings need a clear exit plan. Short-term traders should expect volatility and wide spreads.
Broader memecoin dynamics
PEPE’s rise is part of a larger trend in meme tokens. Many new coins attract large groups of small traders. That crowding makes moves more violent, and memecoins can spike on social buzz and technical triggers.
They can also fall hard when sentiment shifts, so the current setup shows both high interest and a fragile market structure.