PEPE outpaces DOGE but trails BONK – Here’s truth behind 14% rally

PEPE rallied 14%, but its biggest test may come at the next resistance level.

Written by Erastus Chami

Reviewed by Renuka Tahelyani

Updated 12:00 EDT July 4, 2026

PEPE climbed 14.06% over the past 24 hours as buyers returned after the token rebounded from recent lows.

The memecoin traded at $0.00002808 while its market capitalization reached $1.16 billion, reflecting the same 14.06% daily increase.

Trading activity also strengthened as the token recorded $274.5 million in volume, representing a 49.6% increase over the same period. The gains suggested renewed market participation rather than an isolated price jump.

In addition, PEPE maintained its position among the market’s leading memecoins as investors responded to improving sentiment.

This latest recovery followed several sessions of weakness, leaving traders focused on whether stronger participation would continue supporting higher prices.

Did spot buyers take control of PEPE?

Spot market activity strengthened faster than derivatives participation during the latest rally. PEPE’s spot trading volume climbed 80.46% to $62.41 million, while futures volume increased 69.27% to $622.40 million over the same period.

That difference suggested fresh buying demand entered the spot market at a quicker pace than leveraged speculation.

Although futures trading still accounted for a much larger dollar value, the stronger growth rate in spot volume indicated buyers increasingly acquired the token directly instead of relying primarily on leverage.

Open Interest also rose 21.60% to $178.35 million, showing traders continued opening new futures positions as prices advanced.

However, the slower increase in futures activity compared with spot volume reduced concerns that excessive leverage alone had driven the recovery.

PEPE lagged BONK but stayed ahead of DOGE

Trading activity across the memecoin sector expanded broadly, although PEPE delivered mixed relative performance.

BONK attracted the strongest participation, with spot volume surging 131.53% and futures volume jumping 136.49%, comfortably exceeding PEPE’s respective gains of 80.46% and 69.27%. Those figures showed traders concentrated more aggressively on BONK during the latest market recovery.

However, PEPE clearly outperformed DOGE, whose spot volume increased only 19.57% while futures volume rose 17.04%.

The comparison suggests PEPE captured stronger speculative interest than the largest memecoin despite falling behind BONK’s exceptional growth.

As a result, PEPE occupied a middle ground within the sector, attracting meaningful capital without becoming the strongest destination for new trading activity.

Can PEPE clear the next resistance?

At press time, PEPE recovered sharply after bouncing from the $0.0000231 support zone and approached the important $0.0000300 resistance level.

Buyers steadily reclaimed lost ground instead of producing a single explosive move, leaving the broader structure more constructive.

The Relative Strength Index [RSI] was at 55.96, moving above the neutral threshold after recovering from oversold territory earlier in the decline. That reading suggested buying strength improved without reaching overheated conditions.

Price also remained below the next major resistance around $0.0000400, which continued defining the broader recovery objective.

If buyers maintain current participation and successfully push above $0.0000300, the chart would likely open the path toward that higher resistance. However, repeated rejection beneath $0.0000300 could encourage another period of consolidation before the next directional move emerges.