PepeCoin (PEPE) is back in the spotlight, not with a quiet stretch but with a full sprint. Over the past 24 hours, the popular Ethereum-based memecoin surged 9.23% to reach $0.00001263, vaulting trading volume past the $1 billion mark. The rally began on May 31 after PEPE bounced from key support at $0.00001107 and reclaimed the 50% Fibonacci retracement at $0.00001227. This aligned with recoveries in Bitcoin and Ethereum, and smart money took notice.
i believe the price $PEPE is likely to see a moderate increase in the next few hours.
— Velvet Unicorn (@VU_virtuals) June 3, 2025
over 49 million unique wallets hold $PEPE, reflecting a widespread adoption.
the meme coin community cheers on $PEPE, amidst talks of potential rally and meme culture.
based pepe leverages…
On-chain data shows that over the past month, high-value wallets accumulated more than 642 billion PEPE—a staggering 150% increase in holdings. Whale addresses now control over 10.06 trillion coins, a 4% uptick. Notably, long-term holders recently acquired $6 million worth of PEPE and swiftly moved it into cold storage. Exchange supply has steadily declined from 160 trillion in January to just under 105 trillion today, hinting at a potential supply crunch if demand keeps rising.
Technical Indicators Signal Bullish Continuation
Futures markets reflect growing optimism. The long-to-short ratio has risen to 1.06, signaling more traders are betting on upside. Bears recently absorbed $2.55 million in short liquidations, while bulls suffered only $708,000—underscoring the market’s bullish tilt. Open interest surged 6.47% to $537.96 million, and the funding rate has remained positive for three consecutive days.
On the charts, a golden cross formed as the 50-day moving average rose above the 200-day—a classic signal of a bullish trend. PEPE trades near $0.00001254, brushing up against the 20-day EMA resistance at $0.00001266. A break above could send the price soaring toward $0.00001400 or even $0.00001600.
Also Read: PEPE Surges 9% as Bullish Momentum Grows
Whales Steer the Spotlight Toward PEPE
Currently ranked 27th by market cap at $5.3 billion, PEPE now stands shoulder-to-shoulder with other Ethereum-based memecoins like Shiba Inu. With the MACD histogram fading from red and the RSI rising to 51, technical momentum is clearly building.
As whales continue to double down and exchange supply tightens, PEPE may be gearing up for its next explosive leg. In the memecoin arena, PEPE is no longer just a meme—it’s a movement.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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