Looks like the meme coin market is rebounding.

Pepe (PEPE), the OG frog coin, is up 10% in the past 24 hours.

Meanwhile, a new project called Pepe Unchained (PEPU) is creating a buzz, having raised over $9.5 million in its ongoing ICO.

PEPE Rallies 10% as Retail Traders Jump Back In

PEPE has staged a comeback, climbing to $0.0000081 after dipping as low as $0.0000071 yesterday morning.

This 10% rally has brought the coin roughly back to where it was last Wednesday.

However, PEPE is now approaching minor resistance at $0.0000084.

And it’s still well below its 50-day exponential moving average (EMA), indicating that the medium-term trend is still bearish.

Despite this, trading activity has surged.

Spot volumes are up 63% since yesterday to $713 million, making PEPE the most traded meme coin – even outpacing Dogecoin (DOGE).

Open interest has also jumped 29% to $55 million.

These metrics suggest that speculative trading is ramping up once more.

Although PEPE isn’t out of the woods yet, traders seem to be piling back in, hoping for further gains.

As such, the coming days will be crucial in determining if PEPE can sustain this bounce – or whether it’s just a temporary reprieve.

Pepe Unchained ICO Nears $10M as Staking Rewards Drive Demand

A new meme coin is also doing well this week.

Pepe Unchained has just hit $9.5 million in its ICO, with the $10 million milestone now within reach.

This surge in demand is mainly due to the discounted PEPU tokens on offer at $0.009163 each.

Investors are jumping at the chance to grab these tokens at pre-market prices.

However, what’s really getting attention is how investors can