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- PEPE has staged a remarkable rally, gaining around 50% as investors look to retest the March all-time high.
- Coinbase Futures has listed PEPE perpetual future contracts, helping drive investor interest, and increase liquidity.
PEPE continues to lead the crypto market amid bearish sentiments. The frog-themed memecoin has gone against the tide, recording gains amid market turmoil. The memecoin has enjoyed massive interest in recent weeks, more recently celebrating the launch of the PEPE perpetual features on the Coinbase platform.
As CNF reported, Coinbase listed PEPE on 23rd April after a delay on the 11th of April, because of technical issues. Following the announcement and listing, PEPE has performed exceptionally, proving Coinbase’s influence on the market.
Despite initial reservations due to its controversial associations, Coinbase’s move to offer PEPE futures signals a shift likely driven by market demand. Investors have taken an interest in memecoins, due to their volatility which offers huge profit-taking opportunities. In fact, market demand has led Coinbase to announce perpetual futures trading for Dogwifhat (WIF), the popular Solana-based meme coin, starting April 25th.
At the time of writing, PEPE is trading for $0.000007373 after a 5% plunge in the last 24 hours. This retracement takes away some of its weekly gains after earning 50% in 7 days. Bulls will be keen to sustain the bullish momentum with the dip offering a buying opportunity.
Crypto bulls have shown to be indecisive in recent days, with a majority of tokens stalling. Bitcoin (BTC) was anticipated to rally after the weekend halving but remains at the $64,300 support level. Experts are still optimistic about a rally in the coming months, but the short-term outlook shows that investors are cautious.
Developments around Binance founder Changpaneg Zhao continue to raise concerns for crypto investors. As CNF reported, the US Department of Justice has filed a sentencing memo in the lawsuit against Changpeng Zhao, recommending an extension of the sentence to three years.
PEPE Coin Eyeing ATH
PEPE coin is experiencing a bullish trend with several factors driving its growth. Whales, large investors, have been accumulating PEPE, injecting millions and boosting market confidence. Additionally, individual investors are attracted by the low price, hoping for significant returns.
Technical indicators also suggest continued growth. Moving Averages and MACD indicators show strong buy signals, while RSI remains neutral, indicating room for further price increases. However, some resistance levels might temporarily slow down the uptrend.
Overall, PEPE’s future looks bright. Investor enthusiasm, potential for high profits, and the Coinbase listing all point towards a continuing bullish trend.
