Pepe (PEPE) Rides Macro Squeeze Amid Broader Crypto Rally
Pepe (PEPE) has surged by 4.68% in the last few hours, contributing to a broader crypto rally.
The overall market cap increased by around 4.8% to $2.72 trillion and trading volume jumped 38.9% to about $103 billion. This surge was largely attributed to Federal Reserve Governor Christopher Waller's dovish comments, which reduced near-term rate hike expectations and led to a broad risk-on regime.
BTC rose above $80,000 and positive ETF flows further amplified the rally, with PEPE among the top gainers. The token's price moved from roughly $0.0000035091 to $0.0000038512 between 1pm and 4pm UTC, a 9.75% increase over three hours.
This acceleration coincided with BTC's breakout and the spike in short liquidations, indicating that PEPE was riding the macro squeeze rather than moving in isolation.