PEPE rises 9% to $0.00000502 on heavy short liquidations

PEPE surged approximately 9% within four hours, trading close to $0.00000502 on October 23, 2026, marking a notable move among memecoins during an otherwise muted Bitcoin session. The rapid price increase occurred as Bitcoin hovered near $81,700, showing only a marginal 0.5% uptick in the same period, according to spot market data. While Bitcoin’s performance remained stable following a technology-sector sell-off, PEPE and other memecoins outperformed both Bitcoin and broader altcoins in short-term gains. PEPE, inspired by the popular Pepe the Frog meme, cleared local resistance at around $0.00000476 and quickly advanced toward $0.00000502.