Pepe Spike Massively Following Coinbase & Robinhood Listings

13 nov

Pepe Coin (PEPE), one of the most prominent meme coins, is setting the stage for a potential meteoric rise with its new listings on both Robinhood and Coinbase. This double listing event has provided a notable boost to the token’s price, adoption, and visibility, reinforcing the broader trend of meme coins taking center stage in this bullish crypto market. With a new all-time high (ATH) and technical indicators showing strong bullish momentum, PEPE may be entering a high-growth phase, reminiscent of previous meme coin surges like Dogecoin and Shiba Inu.

Coinbase and Robinhood Listing: A Bullish Catalyst
Coinbase’s Chief Legal Officer, Paul Grewal, revealed that the platform will list PEPE, noting its popularity within the crypto community. The announcement comes on the heels of Robinhood’s decision to list the coin, adding PEPE to an exclusive list of meme coins supported on both platforms. Given Coinbase’s high user base and influence in the crypto space, this listing is expected to attract significant retail interest, potentially setting PEPE up for a prolonged rally.

In a light-hearted social media post featuring a frog emoji, Coinbase’s team confirmed their commitment to listing PEPE. The listing not only brings increased visibility but may also boost the token’s liquidity and trading volume, essential factors that can drive market interest and price appreciation. Following this announcement, PEPE surged, reaching a new ATH of $0.00001944 with an impressive $8 billion market cap.

The Meme Supercycle and PEPE’s Growing Popularity
The current bull run, dubbed a ‘meme supercycle,’ has seen meme coins gaining exceptional traction. Exchanges have been quick to ride this wave, adding popular meme tokens that draw considerable community engagement and trading volume. Binance recently listed Solana-based meme coins ACT and PNUT, which saw post-listing price surges of 1,300% and 250%, respectively. With Robinhood and Coinbase adding PEPE to their rosters, a similar price trajectory for PEPE seems plausible.

Crypto analysts predict that PEPE could replicate the performance of Shiba Inu, which experienced a 10x price increase after its Coinbase listing. This growth potential is bolstered by PEPE’s strong community and meme appeal, which tends to drive significant retail interest and social media activity. According to Crypto Rover, the price of PEPE could still increase tenfold from its current level, given its favorable position in the meme coin trend.

Technical Analysis
Technically, PEPE is exhibiting strong bullish momentum, currently trading within a rising trend channel. As of the latest data, the token is up 33% on the day, with an overbought RSI of 86. Despite this overbought condition, the market appears poised for a continuation of this bullish trend, supported by broader positive sentiment in the crypto landscape. Many traders anticipate that Bitcoin could reach $100,000 by Thanksgiving, which may bolster meme coins like PEPE in the coming weeks.

The high RSI does indicate a potential for some short-term consolidation, but the rising trend channel and strong market interest suggest that any pullbacks could be temporary. Additionally, PEPE’s position above key moving averages provides support for a sustained uptrend.

Strong Community Backing and Growing Demand
PEPE has a dedicated and active community, which has been instrumental in driving the token’s visibility and demand. Meme coins rely heavily on social sentiment most especially twitter meta, and PEPE’s community continues to push the narrative around the token’s growth potential. This community-driven momentum has often been a key driver behind meme coin price surges, as evidenced by Shiba Inu’s journey from a $4 billion to a $40 billion market cap following its Coinbase listing.

Crypto commentators also posits that the meme coin trend, especially on platforms like Robinhood, has opened the door for new retail investors to explore and invest in crypto assets. Robinhood and Coinbase, both accessible and widely trusted, offer a unique opportunity for PEPE to reach a broader audience, potentially spurring another wave of buying activity.

Market Sentiment
Analysts and commentators are largely bullish on PEPE, with expectations of continued growth as it gains traction on major exchanges. Some compare its potential to that of Shiba Inu, which saw its market cap skyrocket after its Coinbase listing. With Binance’s recent listings of other meme coins yielding significant gains, market watchers believe PEPE is well-positioned to benefit from this growing trend.

Conclusion
Pepe Coin’s new listings on both Robinhood and Coinbase mark a pivotal moment for the token, enhancing its visibility, accessibility, and potential for widespread adoption. The current bullish sentiment in the crypto market, coupled with the meme coin supercycle, makes this an opportune time for PEPE to capture additional market share and possibly reach new price highs. Although technically overbought, PEPE’s fundamentals and the current meme coin craze suggest a bright future ahead.

As more investors turn to PEPE, its listings on major exchanges could be the catalyst needed for exponential growth, making this meme coin one to watch closely in the coming weeks.