Following a 10% rally on Wednesday, Pepe PEPE/USD has caught the attention of cryptocurrency traders, who think the frog-themed meme coin is destined for further gains.
What Happened: Crypto analyst Bluntz remarked that "frogs are back in fashion"
Trader Jameson predicts an "inevitable monster breakout" for Pepe, expecting an uptrend once Bitcoin moves. He believes the "real rewards" will come as Ethereum reverses its downtrend against Bitcoin, dubbing Pepe the "chosen altcoin of this cycle". He forecasts it will surpass Shiba Inu.
Don’t Miss:
- If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.
- Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O’Reilly and Rudy Giuliani are using this platform to create customized gold IRAs to help shield their savings from inflation and economic turbulence.
VikingXBT also predicts upside, though only after a retrace:
Also Read: Dogecoin millionaires are increasing – investors with $1M+ in DOGE revealed!
Why It Matters: With Donald Trump winning the U.S. presidential election, major centralized exchanges like Kraken and Robinhood Crypto announced news for Pepe.
Kraken listed the meme coin for its U.S. clients; Robinhood announced Pepe transfers live on its app. By withdrawing and depositing Pepe, traders will get 1% deposit bonus for a limited time.
IntoTheBlock shows a 252.9% increase in large transactions and a 61.8% rise in daily active addresses. Transactions over $100,000 have increased from 162 to 409 in one day, holders balances stand at $1.8 billion.
What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next:
- The global games market is projected to generate $272B by the end of the year — for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.
- This well known prop trading firm is offering 100% of your first $25,000 profit per account and 90% after that. Here's how to get a special 50% OFF CODE that lets you start out with monthly investments as low as $147 today.
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
