Pepe (PEPE) gained 10.6% in value in the last 24 hours, rising to $0.000007981 as the market continues to recover after the selling wave at the beginning of the month.

While the meme coin has followed a strong uptrend for the past two weeks, it has made a dynamic start to the third week as well. Trading volume has risen by 71% in the last 24 hours, reaching $605 million.

Although many tokens have gained value recently, PEPE is currently showing the best performance among the top 5 meme coins. Its market cap has managed to increase the gap with Official Trump (TRUMP) to approximately $1 billion, making it the third most valuable token in this category.

Interest in PEPE, which experienced a sharp decline since the end of January, began to rise again from March 13, as market sentiment fell to record low levels and the panic atmosphere dispersed. This could be an early signal that the market has seen its bottom level. Between March 13-23, PEPE's open interest (OI) increased by 30%.

The need for futures traders to hedge their positions by buying in the spot market and the increasing demand for PEPE contracts are among the key reasons behind the recent value increase of the token.

If PEPE Breaks This Resistance, It Could See a 35% Increase
Looking at the charts, PEPE's daily price movements indicate that positive momentum is gaining strength. The token is preparing to retest its recent low peak at the $0.00000900 level. Breaking above this level could reverse the downtrend and signal the start of a new bullish cycle. Momentum indicators also support the bullish scenario for PEPE. Particularly, the Relative Strength Index (RSI) continues to stay above the signal line, while today the oscillator has moved significantly away from this line. This indicates that positive momentum is accelerating.

At the current price levels, PEPE has approximately 15% upside potential if it tests the next critical resistance, and this scenario looks quite likely. Additionally, if a strong bullish breakout occurs, the token could approach the $0.000011 level, potentially yielding up to 35% gains in the short term.

The rise of PEPE could have a positive effect on other Pepe-themed meme coins as well. One of them, Pepe's MIND ($MIND), stands out as one of the most notable AI crypto presale projects of 2025.