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By Francisco Rodrigues, CD Analytics|Edited by Sheldon Reback
Jul 3, 2025, 2:04 p.m.
- PEPE surged 10% in 24 hours to as high as $0.00001049, driven by a golden cross technical pattern that suggests sustained bullish momentum.
- The rally was accompanied by a significant spike in trading volume, with 13.7 trillion tokens traded in a single hour, and has established a strong support level near $0.0000101.
- The token has outperformed the wider cryptocurrency market, with the CoinDesk 20 index rising 5.92% in the same period.
The popular frog-themed memecoin PEPE surged 10% in 24 hours to reach $0.00001049, fueled by technical signals that could point to more upside amid a wider memecoin market rise.
The token climbed from $0.00000949 to $0.00001049, hitting a peak of $0.00001077 in early trading before retracing slightly.
STORY CONTINUES BELOW
A key technical pattern, a golden cross, where the short-term moving average rises above the long-term average, has formed on PEPE’s chart, hinting at sustained bullish momentum.
A golden cross is widely watched in trading circles because it suggests that recent buying pressure might carry over into a longer-term rally.
Trading volume spiked significantly during the rally, hitting 13.7 trillion tokens in a single hour as the price started lifting, and 7.7 trillion later on, underscoring the intensity of the rally.
Meanwhile, the wider memecoin sector, according to the CoinDesk Memecoin Index (CDMEME), rose 11.4% in the last 24 hours.
Despite a pullback from the highs, PEPE has established a strong support level near $0.0000101, according to CoinDesk Research’s technical analysis data model. Fibonacci extension levels suggest the price could push toward $0.0000110 if the rally holds.
The cryptocurrency has outperformed the wider cryptocurrency market over the last 24 hours, as measured by the CoinDesk 20 (CD20) index, which rose 5.92% in the same period.
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk’s $1,000 disclosure threshold.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
