- PEPE tops the list of the top-performing meme coins after an impressive 70% rally.
- A trader secured 700% plus return from a 10x PEPE long position executed a week ago.
- Can PEPE sustain the momentum after entering deep overbought territory?
The PEPE coin price experienced a steep vertical rise over the last 7 days, capitalizing on the bullish momentum that ushered in 2026. A steep enough rally that it not only outperformed its fellow meme coins but became the biggest weekly gainer in the top 50.
The PEPE coin price has so far surged by over 76% since the start of 2026. This effectively made it the biggest gainer among the top 50 cryptocurrencies by market cap.
According to the RSI indicator, the aggressively bullish PEPE price action was now overbought. This meant that short-term profit-taking may occur, particularly if uncertainty persists.
Nevertheless, it was still heavily discounted compared to its 2025 highs.
Its performance reflected the recent surprise surge in liquidity inflows into the meme coins segment. This was after the segment’s underperformance and weak demand last year.
Pepe Whale Pulls Off 700% Plus Weekly Return on PEPE Trade
While the PEPE coin price uptick was impressive, even more interesting was that a whale got in at the right time and rode the bulls into outstanding profits.
Lookonchain data revealed that the particular whale invested just over $58,700 into PEPE coin through Hyperliquid about a week ago. The same whale was up over 738% in the last 24 hours, and the nominal value of that investment pushed close to $490,000.
The PEPE coin whale executed the trade at the tail end of 2025. Note that this was around the same time that analysts contemplated the meme coins segment’s underperformance and discounted nature in 2025.
While the particular whale’s positioning was impeccable, it also highlighted the return of excitement in the derivatives segment. Open interest in the PEPE coin doubled in the last 4 days after jumping from $228.6 million to $470 million at the time of observation.
Will PEPE Coin Price and Meme Coins Segment Maintain Their Rally?
Meme coins represent the most speculative segment of the market. Therefore, the fact that they have been rallying meant that bullish confidence might be making its way back into the market.
However, the tail end of the crypto market was characterized by a lot of speculation even after minor bullish attempts. As a result, an assessment of the downside risks might be necessary.
The surge in open interest confirmed that bullish speculation was back after weeks of consistent long liquidations. This also means that PEPE longs were on the rise and may be at risk of liquidation if the meme coin experiences a sudden reversal.
PEPE whale activity showed an overall bearish bias from this category. For context, whales had $18.3 million worth of net buys in the spot market in the last 24 hours, while OKX canceled out through $18.4 million worth of sell pressure.
Coinbase whales had about $16 million in net spot outflows during the same period. On the derivatives side, both OKX and Binance derivatives contributed about $982 million in net short positions at the same time, indicating expectations of a brief rally followed by profit-taking.
Although PEPE whale activity may highlight short-term rally expectations, the bulls may extend their reign if market conditions allow. Investors have been particularly keen on how the US-Venezuela situation will affect market sentiment in the coming days.