The significant price increase of Pepe (PEPE) over the last 24 hours, despite a general downtrend over the past week, indicates a strong short-term bullish signal for investors. The decrease in trading volume and circulating supply, coupled with a stable market cap ranking, suggests a consolidation phase that might have contributed to the price surge. Given the volatility of cryptocurrencies, this uptrend could attract more attention to PEPE, potentially influencing its price further in the short term.