PEPE Rallied 22% As Bullish Momentum Rises on Potential Coinbase Listing
Pepe (PEPE) has captured significant attention in the cryptocurrency market over the past month, emerging as one of the best-performing meme coins. PEPE has demonstrated remarkable resilience and growth, with a staggering 98% increase in value over the last 30 days. As of 08:22 UTC today, PEPE rallied by 22% as continuing its bullish momentum and was trading the day earoler at$0.00001094.
PEPE Kills A Zero
The driving force behind PEPE’s impressive performance is the rising FOMO among investors. Many are eager to capitalize on its upward trajectory, expecting the cryptocurrency to reach even higher prices soon. The recent price surge, which saw PEPE “kill a zero,” reflects growing investor confidence and anticipation of further gains.
Possible Coinbase Listing
Looking ahead, the prospects for PEPE appear highly favorable, particularly with speculation about a potential listing on Coinbase, one of the most prominent cryptocurrency exchanges in the world. Such a listing would significantly enhance PEPE’s accessibility, especially to US investors, and could catalyze further price appreciation. The anticipation surrounding this potential listing has been a significant factor in PEPE’s recent rally.
Recent Perpetual Futures Listing A Positive Signal
Coinbase has already shown a positive disposition towards PEPE by listing PEPE perpetual futures on its Coinbase Advanced and Coinbase International Exchange platforms back in April.
Our 1000PEPE-PERP market is now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available. pic.twitter.com/hO32wARVFu
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) April 23, 2024
This move increased PEPE’s visibility and underscored its growing legitimacy within the crypto community. The correlation between PEPE’s rising momentum and the announcement of these perpetual futures is evident, as it has fueled investor optimism and buying activity.
Read More: Why PEPE Is About To Make New All-Time Highs
PEPE Available On All Top-Tier Exchanges
If Coinbase does proceed with listing PEPE, it could trigger an unprecedented surge in demand. The cryptocurrency is already available on other major exchanges like Binance, which adds to its credibility. A listing on Coinbase, known for its rigorous listing standards, would further solidify PEPE’s standing in the market. This would distinguish PEPE from many meme coins often confined to smaller, less reputable exchanges and frequently viewed as short-term speculative investments or “pump and dump” schemes.
The presence of PEPE on all the major exchanges signals to investors that it is a credible asset, making it an attractive option for those seeking exposure to meme coins in 2024. This broad exchange support adds a layer of trust and legitimacy critical in cryptocurrency’s highly volatile and speculative world.
Bullish Sentiment Returns To The Crypto Market
Adding to the positive outlook for PEPE is the broader market environment, which is starting to exhibit bullish signals. Bitcoin has found strong support at the $60,000 level. A bounce from this support level could uplift the cryptocurrency market, creating a favorable backdrop for further gains in PEPE and other digital assets.
Overall, PEPE’s recent performance has been nothing short of extraordinary, driven by robust investor enthusiasm and favorable market conditions. The potential for a Coinbase listing represents a significant milestone that could propel PEPE to new heights. As Bitcoin and the broader market show signs of bullish momentum, PEPE is well-positioned to capitalize on these trends, further entrenching itself as one of the top-performing cryptocurrencies today.
PEPE Trading At Key Resistance But Buying Volumes Rising
After a slight correction yesterday, PEPE rebounded substantially today but hit strong resistance at $0.00001079. However, buying volumes are high, and PEPE is pushing against this resistance. If bulls succeed, PEPE could easily hit a high of $0.00001150 in the day.
On the other hand, PEPE bulls lose momentum at the $0.00001079 resistance, and then they could enter a consolidation phase between $0.00001079 resistance and $0.000000971 support.
In the adverse scenario where bears take control in the day and push PEPE through the $0.00000971 support, the price could drop to a low of $0.00000871, a critical inter-day support level.
Why Bulls Are Likely To Remain Strong
Of all the scenarios that could play out today, the odds are higher for PEPE to continue its upside momentum. That’s because PEPE bulls already show signs of breaching the $0.00001079 resistance intra-day. At the same time, Bitcoin has been showing bullish signals in the last couple of days and could easily break out at any point now. Such a move could boost PEPE, which is already in a bull rally.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Kamal Masri
Kamal is an experienced financial analyst with a demonstrated history of working in the Financial Market. Skilled in Equities, Capital Markets, Portfolio Management, Risk management, and Corporate Finance. Kamal has worked at some of the leading online finance publications providing his expert knowledge on cryptocurrency. Kamal has written widely on digital assets across the stock and crypto media space and beyond, including for Coindesk, Ethereum World News and The FinTech Times.
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