PEPE Defies Gravity: 22% Price Surge in 48 Hours Sparks Meme Coin Frenzy
Another day, another meme coin pumping while ’serious’ investors scratch their heads. Here’s what’s fueling PEPE’s rally:
The Whale Effect: On-chain data shows two seven-figure buys hitting Binance just before the spike—because nothing moves crypto markets like anonymous money with a frog meme fetish.
FOMO Tsunami: Retail traders piled in after PEPE breached $0.0000015, proving once again that price alerts trump fundamentals every time.
Derivatives Domino: Open interest in PEPE perpetual swaps jumped 300% on BitMEX, creating the perfect self-fulfilling prophecy of liquidations and squeezes.
Will it last? Probably until the next influencer dumps their bag. But for now, PEPE’s chart is greener than Kermit’s abs—and that’s all that matters in crypto’s circus of speculative capital.
It was just a couple of days ago when Pepe struggled below $0.0000076. And it was just a month ago when it had plunged to a massive low of under $0.0000057. The current price tag of almost $0.0000093 means that the frog-themed meme coin has soared by roughly 22% since May 6 and by more than 60% since the early April bottom.
Aside from the obvious market-related reason, meaning that almost all cryptocurrencies are well in the green today, the other thing worth mentioning when it comes down to PEPE is the activation of a certain whale. Data from Lookonchain reveals that an unknown entity purchased 500B PEPE (worth $4.36 million) and their holdings have shot up to 2T PEPE (valued at $17.42 million).
This whale just bought 500B $PEPE($4.36M) again and currently holds 2T $PEPE($17.42M).https://t.co/lj4QaP0DUW pic.twitter.com/sx7hOqkcKG
— Lookonchain (@lookonchain) May 8, 2025
Although PEPE is still 67% away from the all-time high reached in early December, this positive rally has fueled Optimism among its community, with multiple predictions of a big year incoming for the meme coin.
In terms of price action, this popular X user indicated that PEPE is currently testing a key resistance at $0.00000926, which could send the token flying if it falls (it trades inches above it at press time).
James Wynn told his 35,000 followers on X that he had expanded his PEPE long position today. He outlined several reasons behind this MOVE after turning “insanely bullish” for the first time in a “very long time.”
He dismissed PEPE’s brief rally at the end of 2024 as a “hype pump,” but it wasn’t the “bull run pump” the community had waited for.
“For the past 17 weeks pepe has been bearish on the MACD on the weekly candles. Bearish momentum has been weakening and it looks like the MACD line is going to cross over the signal line and begin huge bullish momentum on macro time scales.”
He concluded that his long-term prediction is for PEPE’s market cap to rocket to $42 billion at a minimum (matching SHIB’s levels from the previous cycle) or over $100 billion (exceeding DOGE’s top). PEPE’s current market cap is just under $4 billion, which means that it WOULD need to surge by 950% to reach his more modest target and by 2,400% to fly past $100 billion.
