- PEPE rose 3% in 24 hours with strong trading volume and price touching $0.00001043.
- Whales increased holdings by 1.75% while exchange supply dropped 2.9%, hinting at bullish sentiment.
- The CoinDesk 20 index rose 2.6%, signaling a broader altcoin recovery supporting PEPE’s price action.
Popular meme coin PEPE saw a 3% price increase over the past 24 hours, trading between $0.0000099035 and $0.0000102814 before hitting a high of $0.00001043. This upward move came alongside a massive trading volume of 5.64 trillion tokens during the busiest hour of the session, signaling heightened trader interest despite broader market uncertainty.
Whale Accumulation and Shrinking Exchange Supply
Data from Nansen reveals that large holders, or whales, increased their PEPE holdings by 1.75%, bringing the total to 303 trillion tokens. Meanwhile, the token’s supply on exchanges fell 2.9% over the last 30 days. This combination suggests reduced selling pressure and growing investor confidence, as whales typically move assets off exchanges when they plan to hold rather than sell.
Bullish Technical Signs and Market Support
PEPE held above the key level of $0.000010200 during the session, with multiple spikes showing strong demand at that support. These movements mirror a broader altcoin rally, where the CoinDesk 20 index climbed 2.6% over the same 24-hour period. The timing is notable, as this performance comes despite the market digesting news of U.S. President Trump’s upcoming tariffs set for August 1.
Meme Coins Regain Spotlight
As the crypto market heats up again, meme coins like PEPE are finding renewed momentum. Traders and analysts alike are watching closely, especially as technical signals and reduced circulating supply could fuel more gains in the near term. The current environment may offer short-term upside, driven by a mix of hype, whale action, and broader altcoin enthusiasm.
