PEPE Surges 6% as Trading Volume Spikes 130%, Signaling Potential Short Squeeze

PEPE has recorded a notable price increase of nearly 6%, reaching the $0.000003535 level. This price action was accompanied by a massive surge in trading volume, which spiked by approximately 130% over the last 24 hours. Market analysts suggest that these early signs of accumulation could trigger a potential short squeeze, despite the asset being stuck in a strong descending trend since the beginning of 2026. The sudden shift in momentum indicates a possible relief rally or a strategic move by speculators within a broader bearish environment. While the volume spike is significant for the meme coin, its overall impact on the wider cryptocurrency market remains limited compared to major assets. Traders are now closely monitoring whether PEPE can sustain this momentum to break its months-long downtrend.