Today the market has once again experienced an interesting wave. PEPE has increased by 20% to 37% in the past 24 hours. Not only has PEPE risen, but also established Meme coins like FLOKI and BONK have surged over 15%. On the heat ranking, PEPE is ranked second. This upward movement is not coming out of nowhere; several forces are driving it.

First, regarding market sentiment. An analyst, James Wynn, posted a very optimistic view on social media, believing that if the market continues its bullish trend, PEPE might replicate the path of SHIB in the last cycle, potentially reaching a market cap of $69 billion. This immediately raised market expectations, and the sentiment clearly warmed up.

From a technical perspective, signals are also being emitted. The price successfully broke through and stabilized above the key resistance level of $0.000005, forming a bullish pattern known in technical analysis as the "Adam and Eve Bottom"—which is quite meaningful for short-term trends. More importantly, the derivatives market is showing movement: open interest surged approximately 82% in 24 hours, reaching as high as $446.5 million, indicating a large influx of new funds. Such capital movements often sustain the trend for some time.

Looking at the broader environment, there was a general upward expectation at the beginning of the year. Plus, Meme coins have recently become a focus again. Multiple factors stacking together have created this synchronized upward movement. Of course, how long this rapid rebound can last remains to be seen.