Popular meme-inspired cryptocurrency PEPE (PEPE) rose roughly 3% in the last 24-hour period amid heavy trading volumes.

The token's price oscillated in a narrow band between $0.0000099035 and $0.0000102814 over the period, rising to recently 0.00001043.

While that range may be modest, traders shifted 5.64 trillion tokens during the busiest hour, hinting at strong interest despite lingering market jitters, according to CoinDesk Research's technical analysis data model.

Much of the buzz centered around whales, or large holders, whose total stash rose 1.75% to 303 trillion tokens, while the amount held on cryptocurrency exchanges dropped by 2.9% over the last 30 days, according to Nansen data.

A lower amount on exchanges coupled with larger numbers in the hands of whales could suggest that demand is picking up while supply — the funds available to trade immediately on exchanges — is temporarily lowered.

PEPE’s price found solid footing above $0.000010200 during the session, with bursts of activity pushing it higher in brief spikes.

The cryptocurrency’s price recovery comes amid a wider altcoin market rally, with the CoinDesk 20 (CD20) index rising 2.6% in the past 24 hours as the cryptocurrency market shrugs off U.S. President Donald Trump’s new tariffs, set to take effect Aug. 1.

Meme coins like PEPE often swing wildly on both technical signals and internet hype.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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