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Following
DOGE 
ETH 
PENGU 
PEPE 
SHIB PEPE achieved double-digit gains, and the Meme coin market returned.
According to CoinMarketCap data, the current trading price of $PEPE is US$0.0000031127, up 15% in 24 hours and a weekly increase of 17%. Most of the week's gains came from a one-time breakout that started on Tuesday, with the token currently ranked 50th by market value.
PEPE's daily trading volume on August 20, 2026 reached US$502,807,156, reflecting a significant increase in market activity.
PEPE itself does not generate income and is not backed by reserves. Its price fluctuations depend on market sentiment, social media activity, exchange launches and broader cryptocurrency market trends.
This development was fully demonstrated this week: as the crypto market as a whole turned to risk appetite, a large amount of new funds poured into the Meme coin sector.
The Meme coin sector generally followed suit
This round of gains is not limited to $PEPE. $DOGE,$SHIB and Fat Penguin's $PENGU all recorded double gains for several days, making the entire crypto market red.
Currently, the total market value of the Meme coin sector has exceeded US$68 billion. This increase has attracted the participation of tokens of different sizes.
Online data shows that 4.54 trillion PEPE tokens flowed out of the centralized exchange in a single day, setting the largest single-day outflow since November 2024. At the same time, the top 100 addresses have increased their holdings by more than 6% in the past 30 days, thereby alleviating immediate selling pressure.
This supply-side shift may have amplified the price response when buying returns.
Observers point out that a broader rebound in altcoins or positive developments in pending spot ETFs could serve as further catalysts.
In April 2026, Canary Capital submitted Form S-1 with the U.S. Securities and Exchange Commission to apply to launch the first spot ETF that directly holds PEPE. The proposal contains a small number of ETH configurations to pay for network fees and holds PEPE by the custodian.
Historically, the price volatility of Meme coins has generally been greater than that of other types of cryptocurrencies, and the trend of this sector is mainly driven by market sentiment rather than fundamental value. Traders should be aware that markets of this magnitude can quickly reverse.
