After weeks of volatility, PEPE is showing signs of recovery. The token has risen 2.2% in the last 24 hours to $0.00000683, with trading interest also spiking—hinting at a potential turnaround.
Volume and Open Interest on the Rise
Open interest in PEPE contracts has increased significantly, with data from CoinGlass revealing a three-day average of $241 million—an 18% jump over the previous period.
Trading volumes also surged to $600 million in a single day, representing about 20% of PEPE’s circulating supply. These figures suggest a renewed appetite from speculative traders looking to capitalize on potential price movements.
Relative Strength in the Meme Coin Sector
PEPE has outperformed several leading meme tokens in the past week. While Dogecoin (DOGE) and Shiba Inu (SHIB) posted weekly declines, PEPE managed a 1.8% gain—indicating stronger investor confidence.
The token remains 76% below its December 2024 high of $0.00002825. Still, historical patterns suggest the potential for strong rebounds if key support levels remain intact.
Can PEPE Return to Its Highs—or Even Hit $1?
PEPE has repeatedly rebounded after retracements, with prior post-selloff rallies yielding gains between 200% and 370%. The $0.00000580 level appears to be a strong support zone—recent price action suggests buyers are defending it.
Technical indicators support a bullish narrative. The MACD histogram has shown four weeks of weakening negative momentum, while the RSI has stabilized around 37.
If this support holds, PEPE could revisit its previous highs over the next few months. While the $1 mark remains speculative, crypto’s history has shown that meme coins can defy logic and expectations.
