As the crypto market endeavors to recover from a recent crash, the spotlight remains on cryptocurrencies like Pepe Coin (PEPE) and their potential to reclaim lost ground. With the completion of the fourth Bitcoin halving over the weekend, investors are closely monitoring market movements and seeking opportunities for growth. As PEPE displays a mix of short-term volatility and long-term potential, will it regain its all-time high of $0.00001074 this month? Let’s delve into possibilities.

Pepe Coin Price Market Performance

Pepe Coin price has shown varying market performance recently, displaying both short-term fluctuations and long-term trends. Based on the most recent information, Pepe  the Ethereum meme coin has a value of $0.000006416, showing a rise of 5.43% in the last day.

Nevertheless, when looking at the coin’s performance on a weekly basis, there has been a significant increase of 21.33%, suggesting a favorable trend in the medium run. However, this increase sharply differs from the 19.47% decrease seen in performance over the previous month.

Pepe Coin is ranked at 44th among cryptocurrencies based on its market capitalization of $2.7 billion, according to CoinMarketCap.
In the last 24 hours, the trading volume reached $888.81 million, having increased by 34.55%, demonstrating a heightened trading activity.

The ratio of volume to market cap, commonly used to assess a cryptocurrency’s liquidity and trading activity, is currently 32.66%. This shows that Pepe Coin has a relatively high level of liquidity.

Analyzing Pepe Coin’s tokenomics reveals a circulating supply of 420.69 trillion PEPE, matching the total and maximum supply.
The token’s past price trend shows highs and lows, reaching its peak on March 14, 2024, hitting $0.00001074. Nevertheless, the coin has since witnessed a downturn of 39.7%, suggesting a phase of consolidation and possible reassessment by investors.

Factors That Could Drive Up Pepe Coin Price

Various factors could potentially propel the value of PEPE to  reclaim its all-time high.

1. Pepe Coin’s Coinbase Listing

The possibility of Pepe Coin (PEPE) being listed on Coinbase, a top cryptocurrency exchange, may act as a major driver for the coin to rise and potentially reach its highest value again. As the overall cryptocurrency market shows signs of improvement, investors are more open to increased risks, which includes looking into meme coins like Pepe.

The announcement of Coinbase’s intention to list Pepe for futures trading on its Coinbase International Exchange indicates a growing recognition of Pepe’s potential. The exchange is catering to institutional players outside the United States.

Initially scheduled for listing on April 18, the launch was delayed due to technical issues, generating anticipation and speculation among the crypto community. Despite the setback, the surge in trading activity surrounding Pepe suggests that investors are eagerly awaiting the listing and its potential impact on the coin’s value.

Rumors swirling within the community hint at a possible delay due to preparations for an accompanying spot listing on Coinbase’s main exchange, accessible to both US and international retail investors.

The notion of a combined listing of perpetual futures and spot trading presents a compelling scenario for institutions to hedge their positions effectively. Coinbase could provide investors with a seamless way to handle risk and exposure to Pepe Coin. This could be achieved by allowing them to engage in both futures and spot trading at the same time.

This plan is in line with Coinbase’s commitment to broaden its range of products and meet the changing demands of both institutional and retail investors.

Prominent commentators like Plazma have suggested this idea, sparking significant excitement and expectation in the crypto community.
With over 300 likes on the tweet, there is evident enthusiasm for Pepe’s prospects in the wake of Coinbase’s involvement. The tweet discusses the potential synergy between futures and spot listings.

I bet the reason @coinbase delayed the $PEPE-PERP listing was so they can do it together with the spot listing.
That way institutions can easily hedge their futures possition with their spot possition. pic.twitter.com/xsPeJjcfQe

— Plazma (@Plazma0x) April 18, 2024

If these rumors materialize and Coinbase proceeds with the combined listing, it could instill renewed confidence in Pepe Coin among investors, potentially driving up demand and pushing its price higher. The increased accessibility and legitimacy afforded by a listing on a reputable exchange like Coinbase could propel Pepe towards reclaiming its all-time high and beyond.

This will mark a significant milestone in its journey within the crypto market.

2. Pepe Coin Poised to Break Resistance

Analysts are optimistic about Pepe Coin’s potential for a significant upswing as the recent crypto market recovery could lead to a resurgence in its all-time high. Experts, such as Davie Satoshi, have commented on the project’s potential, providing valuable information on the main factors influencing its path. Davie Satoshi’s assessment suggests that Pepe is poised for a higher time frame upswing, indicating a bullish sentiment within the community.

Satoshi highlighted the presence of several resistance levels that Pepe needs to overcome before experiencing a substantial surge in value. He emphasized that these old resistance levels have the potential to transform into new support levels once breached. This signifies a crucial shift in market dynamics.

This transition from resistance to support is often viewed as a bullish signal, indicating growing investor confidence and stability within the price action.

Old resistance levels become new support levels.
A few more resistance levels to break before $PEPE moons!
pic.twitter.com/qkIgRtgARr

— davie satoshi (@NFTdavie) April 20, 2024

Of particular significance is that Pepe Coin is expected to undergo an explosive uptick, once it surpasses the $0.0000075 threshold. Breaking through this resistance level could serve as a catalyst for a significant rally. Hence, potentially propelling Pepe towards its previous all-time high and beyond.

This prediction aligns with technical analysis principles, where key price levels act as psychological barriers and points of inflection in market trends.

Conclusion

Pepe Coin is positioned to leverage opportunities in the ever-changing cryptocurrency market. The possibility of a Coinbase listing and breaking key resistance levels are driving speculation about Pepe’s future. In the volatile market, Pepe Coin’s journey displays resilience and innovation in the crypto space. Whether it reaches its all-time high in April is uncertain, but its narrative highlights the lasting appeal of meme coins in the crypto market.

The post PEPE Price : How Is Pepe Coin Doing Today ? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am