The post-holiday run is driven by the most risk-on sections of crypto, including major-cap meme coins like PEPE.
Pepe Token (PEPE) just bounced off the upper resistance line, now targeting the $0.0000100 zone. For the popular frog-styled meme coin to eat the zero, crypto analysts see trading volumes as the main catalyst. Posting a 69% weekly uptick, PEPE Token saw billions in daily trading volume every day since last week as capital began to rotate into risk-on assets.
Fundamentals Or Hype? What’s Driving PEPE
The meme coin section added $17 billion, now nearing $53 million in overall market cap. Notably, PEPE’s price is still 76.06% down from the all-time peak of $0.00002803, hit in December, 2024. With the regular trader’s appetite for risk rising, Futures markets had witnessed a massive upswing in trading volume, now reaching $2 billion in 24 hours.
If the Futures & Spot market daily volumes keep above billions a day, it’s well likely that PEPE’s price would retest the analyst’s named resistance level, last seen on October 7, 2025. The speculative appetite is mirrored in PEPE’s Open Interest-weighted funding rate, showing a breakthrough in positive PEPE coin price allocations.
Several Crucial Metrics Turn Bullish For PEPE
With the OI-weighted funding rate positive since January 4, 2026, this implies that short-sellers are paying for the upward PEPE price plays as bulls regain dominance. Some popular crypto whales, including James Wynn, had placed multi-million sensitively-leveraged PEPE plays, ranging from 3x to 10x. This portrays a story of shifted whale sentiment from fear to confidence.
Other key metrics were also favorable, as PEPE’s price remained in oversold condition, judging from the Stochastic Relative Strength Index (StochRSI). Large players, otherwise known as crypto whales, have also surfaced to grab a piece of PEPE’s 420.69 trillion supply – the Chaikin Money Flow (CMF) showcased massively green figures above 0.15 on the 4-hour PEPE chart.
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