Pepe surges 11% as memecoin optimism returns

Pepe (CRYPTO:PEPE) has led the crypto gainers with an 11% bounce, reaching $0.0000069 and marking a 36% recovery from its recent lows.

This surge has pushed PEPE to the 10th spot on global crypto charts, with a 24-hour trading volume exceeding $1.1 billion.

The increase in open interest by 20% suggests renewed confidence among traders.

The broader meme coin sector is also experiencing a resurgence, with Dogecoin (CRYPTO:DOGE) rising 1%, TRUMP (CRYPTO:TRUMP) and Bonk (CRYPTO:BONK) jumping 3%, and SPX6900 (CRYPTO:SPX) surging 22%.

This uptick aligns with broader market optimism, as Bitcoin (CRYPTO:BTC) approaches $83,000 and altcoins like XRP (CRYPTO:XRP) and BNB (CRYPTO:BNB) post solid gains.

The excitement around PEPE is further amplified by the MIND of Pepe (MIND) presale, nearing $8 million.

MIND is an AI-powered meme coin that uses artificial intelligence to analyse market sentiment and provide trading insights.

Its staking app offers high APYs, attracting significant attention ahead of its official launch.

"The combination of staking rewards and AI capabilities makes MIND of Pepe a promising project," one analyst noted.  

YouTubers like Crypto Nautic have endorsed MIND, speculating it could become the "next billion-dollar AI project."

While PEPE remains 75% below its all-time high, the current momentum suggests a potential shift in investor sentiment.

Whether this marks the beginning of a sustained rally or a temporary blip remains uncertain, but the positive momentum is notable for meme coin enthusiasts.

The broader market conditions, including easing tariff concerns and lower-than-expected CPI data, have contributed to cautious optimism among traders.  

This environment could support further speculative buying across the crypto market, potentially benefiting meme coins like PEPE and MIND.