PEPE rebounds 5% to $0.000004 as futures open interest hits $269 million

PEPE , an Ethereum-based meme coin, gained approximately 5% in the past 24 hours, returning above $0.000004 as trading activity surged across meme coin markets. The token traded near $0.00000409 on October 19, signaling a partial recovery after a recent pullback. PEPE futures markets saw open interest remain close to $268 million as of Monday’s price rebound, representing around 16% of the token’s $1.69 billion market capitalization. This high ratio highlights the dominance of derivatives trading in PEPE’s current market structure but does not necessarily suggest directional conviction among traders. The futures market posted a 24-hour turnover of approximately $307 million, significantly outpacing spot volume, which stood at $56 million for the same period.

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