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PEPE reclaimed a $2.08 billion market cap on October 24, 2026, after a 10.2% daily gain pushed its weekly advance to 20.6%, according to Ambcrypto. The move returned the memecoin to the $0.000005 price range and made it the top daily gainer among the largest 100 cryptocurrencies.
Ambcrypto reported that the rally came with $483.4 million in 24-hour spot trading volume. PEPE also entered the top 10 altcoins by 24-hour trading volume at $673 million, placing it in a group that includes Ethereum, Solana and XRP. Ethereum remained the volume leader at $11.4 billion.
Also read: Useless Coin falls 13% as USELESS signals oversold rebound setup
Key facts
- PEPE reclaimed a $2.08 billion market cap after a 10.2% daily rally, extending weekly gains to 20.6%.
- PEPE has struggled to clear resistance near $0.000005 since the October crash.
- Exchange supply fell by 4.77 trillion PEPE on October 16, coinciding with outflows and a 13% rally between October 17 and 22.
- Exchange supply has since risen by 2.11 trillion PEPE, reversing over 40% of the earlier outflows.
- The PEPE/ETH ratio rose more than 13% on the weekly timeframe.
Resistance and exchange flows test the rally
The technical picture is less one-sided than the headline gain suggests. Ambcrypto noted that PEPE has repeatedly failed at the $0.000005 level since the October crash, which leaves the token exposed to profit-taking. An intraday pullback toward $0.0000043 could mark the start of a larger correction if selling pressure continues.
On-chain data from Santiment, cited by Ambcrypto, supports that caution. The 4.77 trillion PEPE withdrawal from exchanges on October 16 preceded the 13% price rally between October 17 and 22, a period when BTC and ETH were largely flat. The subsequent 2.11 trillion PEPE inflow back onto exchanges suggests holders may be moving tokens to sell.
Also read: Altcoin exchange deposits hit 78,000 weekly, up 160% in 14 days
PEPE/ETH ratio as an altcoin signal
The case for wider altcoin interest rests on relative performance. PEPE’s gain against Ethereum on the weekly timeframe outpaced ETH itself, and Ambcrypto framed that ratio as an early indicator of capital moving toward riskier tokens in the fourth quarter. Trading volume rising alongside market cap is the second piece of that argument.
Whether the pattern holds depends on whether PEPE can break the resistance it has failed to clear for most of October. Bitcoin and Ethereum trading roughly sideways gives speculative capital fewer obvious places to go, but it also leaves memecoins like PEPE carrying more of the market’s risk appetite.
Why it matters
Memecoin rallies are often read as a gauge of how much risk traders are willing to take. When PEPE outperforms Ethereum while BTC and ETH stay flat, it suggests some capital is rotating out of the largest assets rather than new money entering the market broadly. For altcoin holders, that makes PEPE’s next move a possible signal for the rest of the fourth quarter. For PEPE holders, the same data that made the rally notable, namely rising volume and relative strength, now sits next to exchange inflows that point the other way.
What to watch
The level to watch is $0.000005, where PEPE has stalled since the October crash, along with the direction of exchange supply. A continued rise in deposits would support the profit-taking case, while a renewed drop in exchange supply would suggest holders are again moving tokens off trading venues. A move toward $0.0000043 would test whether the pullback is a pause or the start of a deeper correction.
This article is not financial advice. Cryptocurrency markets are volatile and uncertain, and readers should do their own research before trading.
Reported by ambcrypto.com.
Source: AMBCrypto