PEPE Rallies 9% with $1B+ Trading Frenzy – Meme Coin Momentum or Mirage?

Frogs leap as PEPE leads meme coin charge—defying gravity (and common sense) with a 9% pump.

Volume explodes past $1 billion as traders FOMO into the greenest amphibian in crypto’s swamp.

Can this rally outlast the typical meme cycle? Wall Street analysts remain unconvinced—when did they ever understand internet money?

PEPE hits major market momentum

The top gainers list on CoinMarketCap—which tracks tokens with the most price movement over the past 24 hours—shows that Pepe has made significant volume gains.

Among these top gainers, PEPE is the only token to have surpassed $1 billion in trading volume.

Source: CoinMarketCap

This represents a 46% increase in volume. When an asset’s price rises alongside trading volume, the likelihood of further price gains increases.

AMBCrypto found that spot accumulation and Futures trading activity have been the main drivers behind this volume surge.

Futures traders stay bullish

In the Futures market, traders have remained firmly bullish over the past 24 hours. One indicator of this trend is the disparity in losses between short and long traders.

Short traders lost $2.55 million, while long traders lost only $708,000 during this period. This significant imbalance confirms a strong directional bias toward a rally.

Further analysis of Futures trading volume and the Open Interest-Weighted Funding Rate provide deeper insight into market sentiment.

Source: CoinGlass

Futures trading volume based on the long-to-short ratio shows that more than 51% of trades favor long positions.

At press time, the long-to-short ratio stands at 1.06. Notably, a ratio above 1 signals sustained bullish sentiment.

Similarly, the Open Interest-Weighted Funding Rate has stayed positive for three consecutive days—marked by a green cloud.

Source: CoinGlass

This indicates that market sentiment has remained bullish during this period. It’s a critical metric, as it suggests that PEPE is likely to continue trading higher.

Spot traders aren’t letting go

Non-leveraged, or spot, traders have continued to accumulate PEPE.

In the past 24 hours, long-term holders have purchased $6 million worth of PEPE and moved it into private wallets for storage.

Source: CoinGlass

If this trend persists, it could trigger a supply squeeze—pushing prices higher as limited supply struggles to meet market demand.