Pepe Pops 30%, Leapfrogs Meme Veterans Dogecoin, Shiba Inu

Pepe Pops 30%, Leapfrogs Meme Veterans Dogecoin, Shiba Inu In Trading Volume And Momentum

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Whale movements and liquidations spike as Pepe rallies sharply.
One trader sees a $10 billion market cap in sight this weekend, while another hints at a potentially historic crypto breakout.
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Pepe PEPE/USD has exploded for a 30% gain, triggering a wave of liquidations and whale activity; traders are now eyeing a massive weekend ahead for the meme coin.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Pepe PEPE/USD	$0.00001252	$5.26 billion	+29.9%	+42.7%
Dogecoin DOGE/USD	$0.2043	$30.5 billion	+9.1%	+12.3%
Shiba Inu SHIB/USD	$0.00001500	$8.8 billion	+9.4%	+10.7%

Trader Notes: Crypto trader MaxBecauseBTC highlighted that Pepe is approaching a critical resistance at the 180-day VWAP, coinciding with a key retest of the February trend breakdown. A breakout here, he says, could set off a rapid surge.

Meanwhile, trader EddyXBT is calling for a $10 billion market cap for Pepe by this weekend.

Adding to the intrigue, trader lyx pointed out that the current move comes exactly 420 days from Pepe's 2024 peak, a symbolic number in meme culture. They believe this alignment could kick off "the biggest rally in crypto history."

Unipcs noted Pepe's 43% surge in 24 hours, comparing the momentum to its early 2024 rally where PEPE soared 1,100% in just four weeks, often leading other meme coins.

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Statistics: Whale Alert data shows 7.14 trillion PEPE coins, valued at around $78.8 million, transferred from an unknown wallet to another unknown wallet, stirring speculation of accumulation, wallet reshuffling or OTC trading.

Coinglass data shows Pepe liquidations in the past 24 hours at $19.4 million. As of May 9, short liquidations of $9.4 million and long liquidations of $4.9 million indicate the highest levels since November 2024 and February levels.

Open interest of $545.4 million is at the highest level since mid-January. Pepe derivatives trading volume expanded by 305.8% in a single day.

IntoTheBlock data shows Pepe large transaction volume expanding by 244.7% and daily active addresses spiking by 115.8% in a single day. Transactions greater than $100,000 jumped from 141 to 597.

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