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| PEPE Meme Coin |
Market Euphoria Builds as PEPE Deletes a Zero and Short Sellers Retreat
PEPE, the frog-themed meme coin, has surged 44% in 24 hours, driven by a mysterious whale transfer and Bitcoin’s rally. The transfer of 7.14 trillion PEPE—worth nearly $78.8 million—between unknown wallets ignited speculation across the crypto world.
This sharp rise follows Bitcoin breaking the $104,000 mark, setting the stage for altcoin momentum. PEPE, once trading at $0.00000759, now sits at $0.00001328, marking a 52% gain over the week. The coin effectively deleted a zero, which is a strong psychological trigger for meme coin investors.
Momentum is clearly visible in trading activity. PEPE’s 24-hour volume spiked 368% to $3.57 billion, according to CoinMarketCap. This marks the fourth consecutive day of gains for the coin—an unusual feat in the meme coin space.
Adding fuel to the rally, CoinGlass reported that $837 million in short positions were liquidated within a single day. This is the largest daily short squeeze since 2021. Liquidations drove further price action, attracting more buyers into the market.
While the whale wallets remain anonymous, the massive transfer hints at either OTC deals or accumulation by large holders. This strategic movement suggests confidence in PEPE’s short-term trajectory.