Why is PEPE price up by double digits today?

PEPE price has jumped nearly 12% over the past 24 hours to approximately $0.0000048 on October 28, as reports of substantial holdings linked to Tron founder Justin Sun attract traders while derivatives activity and exchange withdrawals pick up. Summary PEPE price gained nearly 12% as Arkham identified $51.25 million in holdings linked to Justin Sun. Sun-linked wallets reportedly control 2.82% of PEPE’s supply, increasing attention to large-holder activity. Santiment recorded 4.77 trillion PEPE leaving exchanges on October 16, followed by partial reversals. CoinGlass data showed rising futures activity, alongside a reported $1.39 million in spot outflows. PEPE price faces resistance around $0.0000050, with $0.0000055 and $0.0000060 as potential upside targets. According to crypto.news market data, the meme coin traded between $0.0000043 and $0.0000050 over the past day, with trading volume near $476 million and market capitalization above $2 billion. The token has gained approximately 15% over the past month, although it remains well below its December 2024 record of $0.000028. The latest recovery follows reports that wallets attributed to Sun hold roughly $51.25 million in PEPE, re...