- Pepe Coin surpassed $0.000005 following a nearly 50% weekly surge.
- As PEPE extends its ongoing recovery, the meme coin’s trading volume has jumped by roughly 425%.
Driven by widespread buying pressure across the meme coin sector, Pepe Coin (PEPE) climbed past $0.000005 on Sep. 22, positioning the Ethereum-based asset among the day’s leading crypto performers.
CoinMarketCap data indicated PEPE was changing hands at approximately $0.000005106, marking a nearly 27% increase over a 24-hour period. During the session, the token hit an intraday peak of $0.000005332—its highest value since January.
Concurrently, the token’s 24-hour trading volume spiked over 425% to reach roughly $1.56 billion, pushing its market capitalization to approximately $2.1 billion. On CoinMarketCap, PEPE currently holds the No. 42 ranking by market value.
This upward momentum builds on a previous strong session on Sep. 21, when PEPE advanced 19.25% to close near $0.000004755. The token has rallied significantly from a price of about $0.000003389 on Sep. 17, continuing a multi-day streak that brought weekly gains to over 48%.
What Is Driving PEPE Higher?
There has been no official project-specific announcement or network upgrade cited for the recent price action. Instead, PEPE’s surge arrived alongside a broader market rally that saw Bitcoin break past $85,000 alongside gains for Ethereum, XRP, and Solana.
As of September 22, Bitcoin traded near $85,975 with a 24-hour gain exceeding 5%, while Ethereum rose about 3% and Solana advanced more than 5%. XRP also registered an increase of over 7%.
A massive wave of short liquidations further fueled the broader market’s momentum; figures from Coinglass showed that roughly $919 million in cryptocurrency short positions were liquidated during the surge.
Market data highlighted by Yahoo Finance shows that this heightened activity is especially evident in PEPE’s trading volume, with over $1 billion worth of the cryptocurrency changing hands within a single 24-hour window.
PEPE Forms Bullish Continuation Pattern on 4-Hour Chart
Analysis of PEPE’s 4-hour chart reveals a robust bullish breakout followed by a brief period of consolidation close to recent highs. The upward movement commenced when the token pushed past the $0.0000040 threshold and accelerated through $0.0000043, printing a succession of large green candles.
Following the push toward $0.0000052, the token experienced a mild pullback to roughly $0.00000475 before buyers re-entered the market, driving PEPE to a new local peak near $0.0000053.
On a granular level, Pepe Coin has sustained its position above short-term moving averages while trading near the upper boundary of its current range. The shorter moving average sits around $0.00000473, whereas the longer moving average rests near $0.00000429. PEPE remains above both metrics, with the shorter average maintaining its position above the longer one.
Consequently, the $0.00000525–$0.00000535 zone serves as the primary immediate resistance level on the chart, a region PEPE has tested without yet carving out a definitive, sustained break above it.
Should Pepe Coin fail to maintain its upward trajectory, the first support level to monitor is $0.00000500, followed by the short-term moving average near $0.00000473. A deeper support zone exists around $0.00000429–$0.00000437, derived from recent price action and moving average placements.
Despite the rally, PEPE trades far below its historic peak. CoinMarketCap records its all-time high at $0.00002825, set in December 2024, leaving the cryptocurrency down more than 80% from that benchmark.
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