Pepecoin continued its upward move on Thursday. At the time of writing, PEPE is trading at around 0.000004012, posting gains of 6.08% in the last 24 hours. The recovery follows a period of cautious trading linked to geopolitical developments, with easing tensions helping risk appetite return. The shift toward a risk-on environment has brought renewed attention to meme coins. Pepe is among the assets benefiting from this change. Both derivatives data and on-chain metrics indicate growing confidence among traders and large investors. Market Recovery Fuels PEPE Demand The broader crypto market rebound is supporting speculative assets. Traders are showing increased willingness to take on risk, which often translates into higher demand for meme-based tokens. Pepe has responded with stronger price action and rising participation. Data from derivatives markets shows a sharp increase in activity. Open Interest in PEPE futures has climbed by roughly 20% within 24 hours, reaching $228.67 million. This jump suggests that more traders are entering positions, with a bias toward further upside. Higher Open Interest often reflects stronger conviction. In this case, it indicates that market participants expect continued price expansion in the short term. The increase also points to improved liquidity, which could support sustained momentum if it holds. Retail interest is also trending upward. Growing social attention and trading volumes are reinforcing the asset’s visibility. This combination of retail activity and derivatives growth is contributing to the current rally. Whale Accumulation Strengthens Bullish Outlook Large wallet investors are playing a key role in the current trend. On-chain data shows consistent accumulation among holders with significant balances. These investors are often seen as long-term participants, and their behavior can influence market direction. Wallets holding between 100 million and 1 billion PEPE tokens have increased their combined holdings to 10.64 trillion tokens. This marks a steady rise from earlier levels recorded in mid-February. The accumulation suggests confidence in the asset’s medium-term prospects. At the higher end, wallets with more than 1 billion tokens have also expanded their positions. Their holdings now stand at 3.64 trillion tokens, up from 3.60 trillion in late February. The increase is modest but consistent, reinforcing the broader accumulation trend. This pattern indicates that large investors are positioning ahead of potential gains. Such behavior often supports price stability during pullbacks and can provide a foundation for further upside.
