PEPE has risen by a massive 57% today, reaching a new ATH of $0.00002457 yesterday and settling at around $0.00002098 after Coinbase and Robinhood listed the meme token.
These two listings have pushed PEPE up by 100% in a week, with the alt seeing a 120% gain in a fortnight, which the recent election of Donald Trump has also helped.
The listing of PEPE on two of the biggest trading platforms in the US has seen the coin’s trading volume explode to $27.2 billion today.
Not only does this represent a huge increase in demand, but it also indicates that PEPE could continue posting significant returns over the coming days and weeks.
PEPE Explodes 100% After New Exchange Listings – Is 10x the Next Target?
PEPE’s chart would suggest that the coin may experience a corrective dip today, as traders take profits following its big surge following the listing announcements.
For instance, it looks as though the alt’s current price will drop below its 30-period moving average (orange), which itself looks like it could halt its aggressive climb above the 200-period (blue).
We also PEPE’s relative strength index (purple) decline from an overbought 80 yesterday evening to just over 50 as of writing, a sign that selling pressure is increasing.
But as mentioned above, one bullish detail for PEPE today is that its trading volume stands at an impressive $27.6 billion, which marks an 820% in a week.
This underlines just what a big difference the Coinbase and Robinhood listings will make to the coin’s price action going forwards.
As some traders have pointed out, the price of Shiba Inu (SHIB), for instance, absolutely ballooned after Coinbase listed it back in September 2021.
We have also seen whales continue to accumulate PEPE in the immediate aftermath of the two new listings, a sign that the token will quickly recover from any dips today and resume an overall medium-term climb.
And of course, these two new listings come at a perfect time for PEPE, given that the market is in a very bullish mood following Donald Trump’s victory in last week’s US presidential election.
The expectation is that a new Trump administration will result in favorable regulations for crypto, and in such a context the PEPE price could reach $0.00010 in only a few weeks.
New Pepe Token Shows Strong Potential in Presale
PEPE is certainly in a very enviable position, but the market’s transition into a bull phase means that many other tokens are likely to surge in the coming weeks.
Traders should therefore consider diversifying in order to widen their exposure to potential upside, with one new presale token in particular looking very promising.
This is layer-two project Pepe Unchained (PEPU), which has raised over $29.5 million in its sale, a sign of exciting things to come.
Pepe Unchained L2 Sneak Peek!
— Pepe Unchained (@pepe_unchained) September 26, 2024
What we're building is not just a new chain, but an entire ecosystem.
Pepe Unchained L2
Block Explorer
DEX
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Pepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
Pepe Unchained’s sale will end in just over 28 days, giving late investors one last window of opportunity in which to buy PEPU early.
Investors are excited about Pepe Unchained because it’s building a layer-two network for Ethereum, with its L2 set to provide low fees and transactions that are 100x faster than what you’d get on its parent chain.
It’s aiming to become an ecosystem for meme tokens, with its platform offering a launchpad that will make launching your own coins very simple.
And because of the platform’s scalability and efficiencies, it will provide double the staking rewards it would have as a layer-one coin.
It has a max supply of 8 billion PEPU, with 30% of this going to staking and 20% to the ongoing presale.
It’s also highly bullish that the coin’s X account now has over 50,000 followers, another exciting sign of its future.
Read More: Pepe Unchained Price Prediction
While PEPU’s sale has entered its final phase, latecomers can still join it by going to the coin’s official website.
It’s currently selling at its final presale price of $0.01281, and given its success so far, this is price it could eclipse very soon.
The post PEPE Explodes 100% After New Exchange Listings – Is 10x the Next Target? appeared first on Cryptonews.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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