PEPE Jumps 13.7% to $0.00000386: OI Climbs to $372.9M

PEPE rides the risk-on wave back to the top of its range

PEPE is trading at $0.00000386 on OKX, with the 1000PEPE pair on Binance at $0.0038583, up 13.7 percent in 24 hours. Bitcoin's recovery to near $81,000 has pulled the whole market along, and the squeeze shows up in the liquidation data: $537 million was wiped out across exchanges in 24 hours, 86 percent of it shorts. PEPE's session range is $0.00000336 to $0.00000387, so the token is pressing against the top of the band it has traded in for the past day.

Open interest climbs to $372.9 million, led by MEXC and Binance

Futures open interest on PEPE and 1000PEPE contracts stands near $372.9 million combined. PEPE perps rose 13.7 percent to $242.7 million while the 1000PEPE book expanded 18.7 percent to $130.2 million. The build is concentrated: MEXC added 33 percent in the last four hours, KuCoin is up 20.8 percent over 24 hours, and Binance's 1000PEPE position rose 15.7 percent. Gate holds the largest PEPE book at $75.9 million but only added 3 percent and trimmed slightly in the four hour window. New money is coming through the faster moving venues rather than a broad re-leveraging across every exchange.

Funding stays mild while shorts pay most of the liquidations

PEPE liquidations over 24 hours totaled about $2.1 million, and 84 percent of that was short sellers, which points to spot demand and short covering rather than an aggressive long build. Funding rates back that up. The average rate across venues is near 0.0056 percent per eight hours, and the open interest weighted figure sits around 0.0093 percent. Mildly positive funding means longs are carrying a small cost but the book is not crowded yet. Hot funding, above roughly 0.01 percent per interval, usually shows up before a squeeze stalls.

What to watch next

The immediate line is the 24 hour high at $0.00000387. A daily close above it gives the move room toward $0.0000040, while a rejection would leave a double top against the current range. The four hour funding prints and the MEXC and Bybit books are the places to watch, since those venues added leverage the fastest in this leg. If open interest keeps climbing while funding flips strongly positive, longs become the crowded side and the next flush would hit them instead of shorts. For now the data reads as an early stage meme rally: price leading, leverage building behind it, and shorts still paying the bill.

Data as of 00:50 Beijing time on September 4, 2026, covering Binance, OKX, Bybit, Gate, Bitget, Hyperliquid, MEXC, KuCoin and other major exchanges.