The PEPE token is on steroids, as it has reached a new high of $0.00002133.
The surge in trading came after the listing on Coinbase, and Robinhood.
These listings were met with a rapid and intensive response. The 24-hour volume of trading for PEPE was above $10 billion. This is about 20% higher than the market capitalization.
The PEPE token’s price reaches new highs after Coinbase and Robinhood listings
PEPE’s current price increase shows the token has moved beyond being a meme coin and is now a contender for the cryptocurrency space.
Initial excitement was sparked by the announcement of Coinbase listing made by Paul Grewal Chief legal officer.
The simultaneous addition of PEPE by Robinhood had a greater impact as it has more than 24 million registered users. Many of them are retail investors who have been familiarized with meme coin.
PEPE can now reach more traders in the mainstream and increase its influence.
PEPE has grown due to the positive trends in the cryptocurrency market. Bitcoin (BTC), which is currently trading at $93,000, has been steadily climbing.
The bullish market has also affected other meme currencies. Dogecoin’s (DOGE), for example, has increased by 115% in the last seven days. Bonk has also risen 82% during the same time period.
The technical indicators point towards a possible reverse
PEPE is on a rise, but there are still risks. The coin’s technical indicators suggest that it may be facing challenges in the future. PEPE appears to be in an overbought state based on the widening Bollinger Bands, and RSI of 86.13. It could cause a correction in the market.
PEPE’s large trading volume in relation to its capitalization indicates intense speculation that often leads to price fluctuations.
PEPE’s price dropped significantly after it reached its ATHs of March 2024 and May 2024.
PEPE prices could fall again if there aren’t sufficient long-term buyers to sustain the current price.
Analysts say that, if price falls below $0.000017 level of support, the market could fall to $0.000015. If the PEPE token price stays above the $0.000020 level, this could indicate further gains, and it may even target the next support level of $0.000025.
This article PEPE token prices hit new ATHs after Coinbase listing and Robinhood listing first appeared on The COINPAPER.COM
