PEPE (CRYPTO: PEPE) jumped roughly 15% Friday, outperforming Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) even as a Binance security breach rattled the broader market.
Why PEPE Is Beating Its Meme Coin Rivals
Over the past seven days, PEPE rose 5.5%, while Dogecoin fell 5% and Shiba Inu dropped 6.5%, according to CoinGecko. Dogecoin and Shiba Inu both slipped further over the past 24 hours, falling 3% and 2.5% respectively.
PEPE trades above all four major EMAs, with RSI near 64 signaling bullish momentum without reaching overbought territory.
PEPE’s $2.03 billion trading volume exceeds Dogecoin’s and Shiba Inu’s combined volume, pointing to notably stronger trading activity behind the rally.
Meanwhile, spot netflows for PEPE flipped to $7.52 million in inflows Friday, following $19.86 million in outflows the day before, according to Coinglass, though combined flows over the two-day stretch remain negative at roughly $12.34 million.
Why Shiba Inu Traders Stayed Positioned for Upside
Shiba Inu posted on X that 24-hour SHIB futures volume reached $49.3 million against spot turnover of just $10.8 million, with roughly $20 million in SHIB positions liquidated over the same period.
- Futures volume: $49.3 million
- Spot turnover: $10.8 million
- Total liquidations: roughly $20 million, with longs absorbing $12.9 million of that
- Long-to-short ratio: 2.71, showing most SHIB traders remained positioned for upside despite the token’s price decline
“Please take care of your trades,” the account wrote. “Bulls and more burns we need!”
Why the Binance Hack Shook the Market
Binance said the estimated total impact from the hack reaches roughly $6.3 billion, more than four times the losses from the 2025 Bybit hack, which previously held the record for the largest crypto theft.
The company said around $3 billion in assets have already been frozen, and it’s coordinating with law enforcement, Tether, Circle and industry partners to trace and freeze additional funds, pledging to cover all losses so users don’t bear any financial impact.
The broader backdrop stayed tense Friday after Binance founder Changpeng Zhao told Elon Musk to stop trolling over concerns the exchange’s hack losses could mirror FTX’s 2022 collapse.
Where PEPE Stands Technically
PEPE faces resistance around $0.00000530, followed by a zone between $0.00000560 and $0.00000570 along its upper rising trendlines.
Meanwhile, the 20-day EMA near $0.00000446 provides initial support, with the 50-day EMA around $0.00000418 serving as a deeper floor if the rally fades.
Image: Shutterstock
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