PEPE coin experienced a significant price surge, climbing over 30% in 24 hours to approximately $0.0000056, following a prolonged six-month decline. This rally was accompanied by a dramatic increase in trading volume, which soared over 600% to surpass $1 billion. Additionally, derivatives open interest for PEPE rose by about 82% to $446.5 million, indicating heightened market activity and interest. The surge in PEPE's price and trading activity comes amid a broader resurgence in meme coins at the start of 2026. Traders attributed the rally to increased spot demand, higher leverage positioning, and renewed social media attention. Retail investors, particularly those on platforms like Robinhood, were noted to hold a significant portion of PEPE's circulating supply, further fueling the price movement. Analysts highlighted the alignment of spot and derivatives markets as a key factor in the increased volatility and price action. The market cap of PEPE also saw a notable increase, rising from $1.72 billion to $2.2 billion. Analysts remain optimistic about PEPE's potential, with some projecting a future market cap of up to $10 billion if current trends continue. The recent developments have positioned PEPE well above its previous lows, marking a potential turning point for the meme coin.