PEPE Soars 10%—Memecoin Eyes Highs as Traders Ride the Hype Wave

Frogs fly again—PEPE’s latest pump sparks memecoin mania 2.0.

Subheader: From joke to juggernaut

PEPE isn’t just mocking the market anymore—it’s eating its lunch. A 10% surge in 24 hours puts the green amphibian within striking distance of its 2024 peak, leaving ‘serious’ investors scrambling to justify their portfolios.

Subheader: Liquidity > logic

The rally defies every fundamental metric—proving once again that in crypto, liquidity trumps logic. While Bitcoin maximalists seethe, degenerate traders are printing gains with cartoon frog money.

Closing jab: Watch Wall Street ‘experts’ suddenly discover memecoins—just in time for the next dump.

Key Takeaways

PEPE’s rally lifted profitable holders to roughly 68%, fueling talk that a Q4 2024-style surge could be brewing.

The memecoin market reclaimed the $80 billion mark, led by Dogecoin [DOGE] at $35 billion, shiba inu [SHIB] at $7.9 billion, and Pepe[PEPE] at $5.1 billion.

Ethereum-based memecoins drove the push as ETH reclaimed the $4,000 level. Naturally, Pepe rallied 10.8% in the past 24 hours to $0.00001237, at press time, per CoinMarketCap.

Month-to-date gains stood at 18.3%, though the token remained 36% lower on a year-to-date basis

“Interesting spot to start a bull run”

Analyst Galaxy suggested PEPE was mirroring a 2024 setup that delivered a threefold surge from $0.000010 to $0.000032.

The current consolidation appeared larger, which, in theory, could produce a stronger breakout. If history repeated, targets NEAR $0.000030 or higher were possible.

Having said that, failure to hold the retest could trap the token in extended consolidation, especially given August’s historical underperformance for crypto.

Source: Galaxy/X

PEPE’s max pain levels

From the liquidation data, the max pain levels for PEPE were at $0.0000126 with $1.29 million shorts, while $1.48 million longs were at $0.0000114. The overnight run liquidated more than $2.56 million shorts.

The highest liquidation leverage levels below price were at $0.0000121, $0.0000119 and $0.0000110. The three alone accounted for about $4 million. Another cluster was also forming at the $0.0000115 level.

Source: CoinGlass

On the upper side, the main levels were at $0.0000124 and $0.0000126 with $1.12 million and $1.14 million, respectively.

Clearing these zones could power more upward potential as a Ripple effect of short squeezes.

Assessing accumulation and profitability

IntoTheBlock data signaled growing retail accumulation, with addresses holding $10 to $1 million worth of PEPE hitting new highs. Whales, however, stayed flat.

Meanwhile, Dune data recorded 6.72 million total transactions, with 1.19 million buyers and 838,771 sellers.

Source: Dune

The rally lifted profitable holders to 68%, cutting ‘Out of the Money’ addresses to roughly 32%, at the time of writing.

Source: IntoTheBlock

The largest token concentrations sat at $0.000012, holding 38.87 trillion PEPE, and $0.000013, with 31.38 trillion tokens.

Of course, how holders react to these bands could decide if PEPE’s 2025 mirrors its 2024 rally.