PEPE Climbs 6% as Traders Defend Key Levels, Memecoin Index Gains 7%

PEPE surged more than 6% over the last 24 hours, climbing to $0.00001285. Volatility remained intense, with the token swinging between $0.000011981 and $0.000013081, a nearly 9% intraday range.

While PEPE’s performance stands out, the CoinDesk Memecoin Index (CDMEME) surged 7.12% in the last 24 hours. That compares with a 3.3% gain in the CoinDesk 20 Index of largest, most active cryptocurrencies.

Resistance appears to be around the $0.00001286 level, where algorithmic trading systems triggered two sharp reversals on volumes above daily norms, according to CoinDesk Research’s technical analysis data model.

Repeated rebounds off support near $0.000012600 suggested market participants were stepping in to defend price levels.

In the final stretch of trading, volumes topped 4.6 trillion PEPE, a figure that, in dollar terms, could dwarf the daily trading of many mid-sized stocks.

Yet bids around $0.000012820 held firm, suggesting that investors aren’t abandoning the token. Balance on exchanges, according to Nansen data, has plunged 2.6% over the past 30 days.

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.