PEPE jumps 70% as meme coins lead the crypto markets: trap or opportunity?

Source: Yellow Original Title: PEPE jumps 70% as meme coins lead crypto markets: trap or opportunity?

Original Link: https://yellow.com/es/news/pepe-salta-un-70-mientras-las-meme-coins-lideran-los-mercados-cripto-Trap-or-opportunity The meme cryptocurrency PEPE surged 76% in the first week of 2026, becoming the biggest gainer among the top 50 cryptocurrencies by market capitalization.

The frog-themed token led a broader rally in meme coins, with BONK rising 52%, FLOKI gaining 50%, and Pudgy Penguins advancing 40%.

Trading volumes of the top meme tokens exceeded $7.7 billion in 24 hours as speculative appetite returned to the cryptocurrency markets.

What happened

PEPE’s rally began on January 1, climbing from around $0.0000034 to over $0.0000059.

Open interest in PEPE futures doubled from $228 million to $470 million in four days.

Short position liquidations exceeded $10 million on January 2, the largest single-day event in over a year.

A whale turned $58,700 into nearly $490,000 through a 10x leveraged position executed in late December.

Users on a trading platform now hold approximately 8.3% of the total PEPE supply.

Why it matters

Meme coins accounted for six of the top 10 winners among the 100 largest cryptocurrencies in early January.

The rally occurred while Bitcoin was consolidating above $90,000, prompting a rotation into higher-volatility assets.

Technical indicators show PEPE entered overbought territory, with RSI readings above 72.

Analysts noted that meme coin rallies often coincide with periods when major cryptocurrencies trade sideways.

The rebound reignited the debate over whether 2026 will see sustained momentum or if it will repeat previous volatility patterns.