Pepe (PEPE) Jumped 24% in a Week While Bitcoin Fell. Can the Memecoin Rally Last?

Pepe (PEPE) jumped about 23% in a week, becoming the top performer among the 50 largest cryptocurrencies as Bitcoin fell roughly 1%. The token traded around $0.00000507 after gaining 13.4% in 24 hours, a daily move not seen since at least Oct. 10. The article notes the surge may reflect a short squeeze rather than broad spot buying, pointing to total crypto trading volume dropping 25% during the rally. Dogecoin and Shiba Inu each declined roughly 2%–3%, suggesting no wide rotation into memecoins. Analysts say it’s unclear without open interest and funding-rate data whether shorts were forced out or spot demand drove the move. The piece also mentions a SoFi promotion for new Active Invest users.