PEPE is bouncing back. A 2.2% lift in the past 24 hours and a spike in trading activity have reignited speculation that the meme coin could once again become one of crypto’s breakout stories.

Volume Swells as Market Rebounds

The open interest in PEPE derivatives has surged to an average of $241 million over the past three days. Daily trading volume hit $600 million, underscoring PEPE’s status as one of the most actively traded tokens in the space.

With this activity representing nearly one-fifth of the circulating supply, PEPE appears to be in the spotlight again among retail and leveraged traders.

Outshining Meme Coin Peers

While Dogecoin and Shiba Inu have both slipped recently, PEPE has gained nearly 2% over the week—marking it as one of the few meme coins showing resilience during a turbulent stretch for the broader market.

The coin still trades far below its all-time high of $0.00002825, but if history is a guide, that may not be the case for long.

What the Charts Suggest

If the $0.00000580 support level holds, there’s potential for a move back toward recent highs. Technical signals—including a weakening bearish MACD and a stable RSI—suggest that momentum could be shifting.

A return to $1 remains a tall order, but with renewed interest and strong fundamentals in the meme coin narrative, the door isn’t closed. For now, all eyes are on support levels and volume strength.