PEPE Price Tops Meme Coin Surge Amid Risk-On Shift

Pepe coin, the frog-themed meme cryptocurrency jumped over 8% during Thursday’s U.S. market hours to hit $0.000004 high. This upswing follows the broader recovery in the meme coin market as capital rotates to higher-risk assets, supported by stable market sentiment. However, a stagnant trend in PEPE’s open interest indicator suggests a lack of speculative force in the market. Can PEPE price manage to reclaim the $0.000005 barrier?

Meme Coin Market Climbs 12% Amid Risk-On Sentiment Shift 

In the last 24-hours, the meme coin sector witnessed a significant surge of over 12% to reach a market cap of $39.8 billion, according to Coingecko data. The buying pressure followed a sudden capital rotation to these volatile assets, as the escalation of the Middle East war has triggered a risk-on sentiment. 

Hopes for an extended U.S.–Iran ceasefire have stabilized markets, with Bitcoin reclaiming the $75,000 mark. The Fear and Greed Index of the cryptocurrency was at 56 as of April 16, 2026, which is squarely in the neutral zone. It is a level of equilibrium in the market sentiment, and investors are not really scared or greedy.

Meme coins saw noticeable price increases during the day. PEPE price climbed 9% to $0.000004, leading the segment. DOGE gained 3.07%, reaching $0.09601, while SHIB rose 3.41% to $0.00000606. These stable conditions showed positive price action in the meme sector in general.

However, the Pepe Open Interest (OI), projecting the outstanding value of outstanding futures and options contracts, averages around $194 million on Thursday. According to Coinglass, the OI value has remained stagnant since early February, indicating a wait-and-see approach from institutions and traders.  It suggests that while existing positions aren’t being aggressively closed, no significant “new money” is entering the market to drive a decisive trend.

Pepe Price Gives Major Breakout From Seven-Month Correction 

Over the past two weeks, the Pepe price has witnessed a slow yet steady recovery from $0.00000317 to the current trading price of $0.000004, registering a 25.5% increase. 

Amid this upswing, the coin price breached a long-awaited resistance trendline in the daily chart, which had carried a sharp, steady downtrend since July 2025. Thus, this breakout signals an initial change in market sentiment and bolsters buyers for a potential recovery. 

The momentum indicator RSI surged to 67%, further reinforcing the recovery opportunity for the asset, suggesting a 28% rally before the price challenges the $0.000005 resistance.

However, the aforementioned resistance, backed by the 200-day exponential moving average, creates a stiff supply zone against Pepe’s price recovery. If the sellers continue to defend these resistances, the coin price may enter a prolonged consolidation below the level.