Skip to main content
The PEPE price traded near $0.00000289 on July 22, 2026, with 24-hour trading volume crossing $217 million per CoinDCX — a fresh monthly high that placed PEPE as the second most-traded meme coin behind only DOGE. The PEPE price sits with a $1.26 billion market cap, roughly 90% below the December 2024 all-time high of $0.00002803. Canary Capital’s S-1 filing for the first spot PEPE ETF remains under SEC review with no confirmed decision timeline, but the pending regulatory catalyst combined with strong on-chain volume has kept institutional-adjacent attention on what was once dismissed as pure meme speculation.
The honest setup: the PEPE price fundamentals are stronger than a 90%-below-ATH chart suggests. Trading volume that would be respectable for a mid-cap altcoin is happening on a meme coin with no product, no roadmap, and no yield mechanics — pure liquidity depth reflecting genuine sector interest. By contrast, the Canary ETF filing has sat with the SEC since April 2026 with no timeline, PEPE remains below its 200-day moving average, and the top 10 wallets control 41% of circulating supply — concentration risk that would flag any traditional security. This forecast breaks down what the volume signals and what the ETF timeline could deliver.
The $217M Volume Signal: What Actually Traded
The PEPE price 24-hour volume reading of $217M on July 22 per CoinDCX marks a fresh monthly high. Per TechBullion coverage: “PEPE posted $130 million in daily trading volume this month according to CoinMarketCap. That filing still sits under SEC review with no timeline, but a fund manager putting real paperwork behind a frog coin tells the market something changed.”
The volume ranking matters more than the absolute figure. Per CoinDCX’s ranking: PEPE is the second most-traded meme coin behind only DOGE. Above meme incumbents Shiba Inu, Bonk, Floki, and the newer Solana memecoin cohort. That’s genuine sector rotation preference — traders who want meme exposure choose PEPE second only to DOGE.
Per CoinMarketCap AI’s July 24 update: “PEPE maintained its position as the second most-traded meme coin by 24-hour volume, at over $130 million, trailing only Dogecoin. This high activity underscores its deep liquidity and persistent spot market interest, even during quieter market periods.” The liquidity signal is stability-anchored — deep books that facilitate entry and exit without slippage.
PEPE Price Technical Structure
The PEPE price at $0.00000289 sits within a well-defined technical range. Per TechBullion analysis: “A monthly close above $0.0000030 would open a path toward the $0.0000034 resistance that marked the 2026 high. A break below $0.0000027 risks a slide toward $0.0000026 where buyers stepped in earlier this year. The RSI reads near 44, which counts as neutral to slightly cold.”
Support ladder: $0.00000273 (immediate defense — July whale accumulation zone), $0.0000027 (double-bottom formation zone), $0.00000265 (deep drawdown floor), $0.00000230 (worst-case break of the multi-month range).
Resistance ladder: $0.0000030 (monthly close breakout confirmation), $0.00000320 (BeInCrypto resistance level), $0.00000340 (2026 high), $0.00000440 (DigitalCoinPrice July forecast peak), $0.00000450 (Changelly year-end target).
Per MetaMask coverage: “Technical analysts note PEPE forming higher lows in a multi-month accumulation zone near $0.0000028.” Higher lows in an accumulation zone historically precedes breakout rallies, though the pattern requires volume confirmation on the breakout itself — which the $217M day supports if sustained.
The Canary Capital ETF: Institutional Access Pending
Canary Capital filed an S-1 registration with the SEC in April 2026 for the first spot PEPE ETF. Per MetaMask: “The proposed Canary PEPE ETF would hold the token directly with a custodian and allocate up to 5 percent in Ethereum to cover network fees. The filing tests institutional demand for meme coins and remains under regulatory review with no set approval timeline.”
The structural implications matter. Per OpenPR coverage: “That filing brought institutional attention to PEPE, but large wallet holders are already looking past the ETF and scanning the presale market for bigger returns before exchange listings happen.” The ETF filing itself has produced institutional research attention — coverage from CoinMarketCap AI, CoinBird, TechBullion, and traditional financial data providers now includes PEPE in ETF pipeline tracking.
By contrast, the ETF timeline is unpredictable. The DOGE ETF cohort (REX-Osprey DOJE, 21Shares TDOG) launched in November 2025 and collectively holds only ~$20M AUM after nine months. Even if the Canary PEPE ETF clears SEC review, the base rate for meme coin ETF institutional uptake is measured in single-digit millions rather than the billions that BTC and ETH products captured at launch.
Whale Accumulation Anchors the Base
Per multiple sources including MetaMask on-chain data: whale addresses bought roughly $7.5 million worth of PEPE (approximately 1.3 trillion tokens) near the $0.0000027 support zone in early July 2026. This marked the largest single accumulation event of the year. Per OpenPR coverage: “This kind of buying from large holders while the price sits well below its 2024 high suggests confidence that PEPE has room to run.”
The accumulation timing matters. The $7.5M whale entry aligned with the same July 20-21 window that saw broader crypto risk-on positioning — BTC $66K reclaim, ETH testing $1,940, altcoin rotation activating. Whale positioning ahead of that move rather than after suggests informed rather than reactive capital.
Per CoinMarketCap AI’s assessment: “The Canary Capital ETF filing could change everything if the SEC clears it, because regulated access would open PEPE to capital that cannot buy the token today.” Whales appear to be positioning for that scenario — accumulating supply while retail sentiment remains subdued.
Holder Growth Despite Flat PEPE Price
Per Coin Gabbar coverage: “Holder counts climbed every month in 2026 even as price stayed flat, which tells you everything about where conviction sits beneath the surface.” That divergence — expanding wallet base against sideways spot action — is the durable base-building signal that historically precedes accumulation-driven rallies in cryptocurrency assets.
The PEPE price base at $0.0000027 has now held through multiple stress tests:
- The May 2026 macro selloff that pulled BTC toward $58,000
- The June 2026 record $4.5B BTC ETF outflow month
- The July 20 -23% DOGE crash on US-Iran tensions
- Pre-Fed positioning ahead of the July 29 FOMC decision
Multiple stress-test defenses of the same demand zone typically indicate accumulation supply exhaustion at those levels. Combined with expanding holder counts and the pending Canary ETF catalyst, the PEPE price setup carries genuine structural strength beneath the meme surface. The PEPE price base at $0.0000027 has now become one of the most-tested support zones in the memecoin sector this year.
PEPE Price Scenarios: Short and Long Term
| Timeframe | Bear Case | Base Case | Bull Case |
|---|---|---|---|
| Short-term (1-3 months) | $0.00000230 | $0.0000029 – $0.0000034 | $0.00000440 |
| Mid-term (6-12 months) | $0.00000180 | $0.0000045 – $0.0000060 | $0.0000072 |
| Long-term (2027) | $0.00000150 | $0.0000080 – $0.0000120 | $0.0000200 |
Short-term thesis: The PEPE price holds $0.0000027 base while volume expands. Base case $0.0000029-$0.0000034 aligns with monthly close breakout above $0.0000030 opening 2026 high retest. Bull case $0.00000440 matches DigitalCoinPrice’s July forecast peak and requires either SEC clearing the Canary ETF or a broader memecoin sector rally. Bear $0.00000230 triggers on Fed hawkish pivot + BTC breaking $60K.
Mid-term thesis: Base $0.0000045-$0.0000060 aligns with DigitalCoinPrice’s 2026 projection range. Bull $0.0000072 (85% above current spot per CaptainAltcoin analysis) requires ETF approval combined with sustained memecoin sector momentum. Bear $0.00000180 assumes prolonged sector fatigue plus ETF rejection.
Long-term thesis: Full recovery to ATH $0.00002803 equals approximately 9.7x from current spot. The mechanical mathematics are achievable given the base at $0.0000027 has now held through four stress tests. Base case $0.0000080-$0.0000120 assumes gradual accumulation-driven rerating over 12-18 months. Bear $0.00000150 assumes memecoin sector structurally weakens and PEPE loses its second-behind-DOGE positioning.
Named Risks to Any PEPE Price Recovery
SEC ETF rejection. Canary Capital’s filing could be denied. Precedent for meme coin ETF approval is limited to the DOGE cohort. Rejection removes a specific institutional catalyst and could compress the PEPE price back toward the $0.0000023 lower bound.
Concentration event. Top 10 wallets hold approximately 41% of PEPE supply. Any single large holder distributing size into the market could pressure the PEPE price sharply. The whale accumulation base helps but does not eliminate the concentration exposure.
Sector fatigue. Solana memecoin ecosystem (pump.fun) continues to fragment retail speculative capital. If sector attention shifts toward newer meme cohorts, PEPE’s second-behind-DOGE positioning could erode.
Macro risk-off. The Fed’s July 29 hawkish 9-3 hold vote leaves September/November hike probability elevated. Memecoin assets historically underperform in tightening cycles regardless of asset-specific catalysts.
The Bottom Line
The PEPE price at $0.00000289 combined with $217M in 24-hour trading volume signals genuine institutional-adjacent interest in what was once pure meme speculation. Second-place behind DOGE in meme volume rankings, whale accumulation of $7.5M near support, monthly-expanding holder counts, and the pending Canary Capital spot ETF filing at the SEC form a coherent structural setup. By contrast, PEPE remains 90% below its December 2024 all-time high, the ETF timeline is uncertain, and the top-10 wallet concentration at 41% creates meaningful distribution risk. For long-term memecoin allocators, the PEPE price setup — multi-month accumulation zone at $0.0000027, expanding wallet base, deep liquidity depth, pending ETF catalyst — is the strongest structural case since the December 2024 top. For short-term traders, the cleanest signal is a monthly close above $0.0000030 opening the 2026 high retest at $0.00000340. Below $0.0000027, the setup resets. Volume tells the truth; the pending ETF decision determines whether it accelerates.
FAQ
Why did the PEPE price 24-hour volume hit $217M?
The volume expansion aligns with broader crypto risk-on positioning in the July 20-22 window (BTC $66K reclaim, altcoin rotation activating) plus the ongoing Canary Capital spot PEPE ETF filing keeping institutional-adjacent attention on the token. Deep liquidity at these levels supports the PEPE price base building thesis regardless of near-term direction.
When will the SEC decide on the Canary PEPE ETF?
No timeline confirmed. Canary Capital filed the S-1 in April 2026 and the application remains under regulatory review. The DOGE ETF cohort took approximately 6-9 months from filing to launch. If Canary Capital’s PEPE ETF follows similar timelines, decision would come Q4 2026 or Q1 2027. Approval is uncertain given meme coin ETF precedent is limited.
How much of PEPE do the top wallets actually hold?
Top 10 wallets hold approximately 41% of circulating PEPE supply per multiple on-chain analytics providers. That’s concentration meaningfully above what would flag any traditional security. The recent $7.5M whale accumulation reduces immediate distribution risk but the underlying concentration structure remains a risk factor for any PEPE price rally.
Can the PEPE price return to its all-time high?
ATH is $0.00002803 (December 2024) — approximately 9.7x above current spot at $0.00000289. Full recovery requires either sustained memecoin sector rotation, Canary ETF approval driving institutional inflow, or renewed retail speculation cycle. Multi-year rather than months timeframe. DigitalCoinPrice’s 2026 upper bound projects $0.00000440-$0.0000072 — well below ATH but 52%-149% above current.
What are whales doing at these PEPE price levels?
Whale addresses accumulated $7.5M in PEPE (roughly 1.3 trillion tokens) near the $0.0000027 support zone in early July 2026 — the largest single accumulation event of the year. Holder counts have expanded every month in 2026 despite flat spot action. That divergence between expanding wallet base and sideways spot typically indicates accumulation supply exhaustion at these levels.
About the Author
Daniel Okafor is the Crypto News Reporter at CryptoLikeThis, covering sector developments, adoption stories, and market-moving news across the majors and altcoin sectors. He writes regularly on institutional access developments, ETF pipeline dynamics, and the intersection of retail and professional capital in cryptocurrency markets.
Disclaimer
This article is published by CryptoLikeThis for news, education, and information purposes only. It is not financial advice or a recommendation to buy, sell, or hold PEPE. Cryptocurrency markets are highly volatile. Memecoins carry additional risk due to sentiment-driven price behavior, concentration exposure, and the absence of underlying product or yield mechanics. Always carry out your own research and seek independent financial advice.
Sources
- TechBullion — PEPE ETF Filing Fuels Fresh Interest (Canary Capital first spot ETF for pure meme token, $130M daily trading volume this month per CoinMarketCap, PEPE $0.0000027 late July 2026 $1.26B market cap top 50 tokens globally, 24h volume crossed $217M per CoinDCX second most traded meme coin behind DOGE, monthly close above $0.0000030 opens path to $0.0000034 resistance, RSI near 44 neutral-to-cold)
- MetaMask — PEPE Price Live Data (PEPE $0.00000289 today, July 22 2026 approximately $130M 24-hour trading volume second among meme coins behind DOGE, whale accumulation near support levels contributing to observed volume, Canary Capital S-1 April 2026 first spot ETF holding actual PEPE tokens up to 5% Ethereum for network fees, PEPE forming higher lows in multi-month accumulation zone near $0.0000028)
- OpenPR — PEPE Whale Wallets $7.5M Load ($7.5M whale addresses in early July 2026, PEPE held above $0.0000027, 1.3 trillion tokens on-chain data from MetaMask, buying while token 90% below 2024 high $0.000028)
- OpenPR — PEPE Canary Capital ETF Focus (Changelly July 2026 average $0.0000024 peak $0.0000028 yearly ceiling $0.0000034, DigitalCoinPrice July $0.0000043-$0.0000044, PEPE $0.0000027 late July 2026 $1.2B market cap per CoinMarketCap)
- CoinMarketCap AI — PEPE Latest Updates (second most-traded meme coin 24h volume $130M behind DOGE only, robust volume provides stability eases entry exit for traders, PEPE trades $0.0000028 approximately 90% below December 2024 ATH, capital rotating toward earlier-stage projects, no utility product or roadmap community-driven cultural asset)
- CaptainAltcoin — PEPE $1.6B Market Cap Analysis (PEPE $0.0000038 April 2026 with $1.6B market cap, 1.23T tokens whale load, ATH $0.00002803 leaving PEPE 86% below peak, DigitalCoinPrice 2026 projection $0.0000057-$0.0000072 roughly 46%-85% upside from that reference)
- OpenPR — PEPE Could Multiply From Here (whale accumulation largest single event of the year, Canary Capital S-1 registration first spot PEPE ETF holds token directly, approved ETF would bring regulated institutional capital into meme coin for first time in market history)
- Coin Gabbar — PEPE Price Analysis (holder counts climbed every month in 2026 even as price stayed flat, whale wallets loading $7.5M in PEPE near $0.0000027 demand zone, deep value at these levels signal from large holders)
