- PEPE Coin jumps 7% after Trump shares meme, pushing trading volume to $1.63B.
- Whale moves shift over 2T tokens, fueling investor interest in PEPE’s rally.
- PEPE market cap exceeds $6B as futures open interest rises 11% to $667M.
PEPE Coin is once again under the spotlight following a Truth Social post shared by U.S. President Donald Trump that featured a PEPE meme. The post gained immediate attention across crypto communities, prompting a sharp reaction in the market. As a result, PEPE Coin jumped by 7% within hours of the post going live. This surge brought its daily trading volume to $1.63 billion, marking a significant increase of 37$.
Whale Moves and Hype Fuel PEPE’s Breakout Hopes
The timing of the meme’s release comes as PEPE Coin was already experiencing bullish momentum, recording a monthly gain of over 60%. The latest spike helped PEPE retest a crucial resistance level of $0.000016, raising speculation around a potential breakout. Influential crypto figures quickly responded to the post, amplifying the narrative and driving more eyes toward the token.
Besides the hype generated by Trump’s post, large movements of PEPE tokens have stirred further investor interest. Notably, a significant whale transfer involving over two trillion tokens from Bybit to an unknown wallet was recorded, suggesting heightened accumulation. On-chain activity indicates increased confidence among major holders despite the volatile nature of the asset.
Wynn’s Bet and Trump Ties Spark PEPE Speculation
Meanwhile, trader James Wynn entered the spotlight after executing a 10x leveraged long bet on PEPE. Though the position was closed shortly after with limited returns, the trade caught attention due to Wynn’s previous $87 million gain during last month’s rally. His recent losses have only added more intrigue to the market’s response to meme coins like PEPE.
PEPE futures data from Coinglass also reflect the increased enthusiasm. Open interest rose by 11% to reach $667 million. This figure aligns with the overall rise in trading activity and highlights the current speculative environment surrounding the token.
Trump’s involvement with meme coins has grown noticeably over the past year. Earlier in 2024, he introduced the TRUMP coin and even hosted a private dinner event for its holders. That initiative led to a temporary rally in the TRUMP coin’s value, though it later lost momentum. The former president’s latest post is viewed by some as a continuation of his meme coin engagement, fueling ongoing speculation around PEPE.
Social Media Buzz and Whale Moves Drive PEPE Momentum
Social media was quick to catch up on this, with influencers sharing their views on the US president’s tweet. Crypto influencer Evan Luthra tweeted, suggesting it is really something big upcoming or just a glitch. Also, with the market cap of PEPE reaching $6 billion, it remains one of the largest meme coins.
The market reaction suggests that traders are closely watching his social media activity for potential market signals. As the price of PEPE Coin increases, analysts are still trying to determine if it can withstand the influence of active whales and betting with high risk.
