Pepe Coin Price Rallies Ahead Coinbase Futures Listing

Pepe Coin (PEPE) saw a 4.5% increase in value today. This growth occurred before the coin became available for perpetual futures trading on the Coinbase International Exchange. Additionally, there was a significant rise in the number of open contracts related to PEPE on derivatives platforms.

Coinbase International Exchange To List Pepe Coin Perp

Starting from 9:30 a.m. UTC on Tuesday, April 23, Coinbase International Exchange will add Pepe Coin perpetual futures to its platform. Originally planned for an April 18 debut, this rollout has been postponed.

Starting from the upcoming change regarding X, the announcement made by the exchange is that Pepe perpetual futures will be introduced on both Coinbase International Exchange and Coinbase Pro. The initiation of trading for this market (1000PEPE-PERP) will commence no later than 9:30am UTC on April 23, 2024.

Previously, the postponement of Pepe Coin’s futures listing on the exchange led to a price drop for the meme cryptocurrency. Although the market trend was generally bearish, the delayed launch worsened the situation. Nevertheless, the crypto community is thrilled to see Coinbase supporting Pepe Coin following their past disagreement.

Coinbase previously labeled Pepe Coin as a “hate symbol” on its exchange. However, this controversy has since subsided, and now Coinbase is preparing to offer PEPE perpetual futures to its users.

PEPE Price Surge

Currently, the value of PEPE cryptocurrency has increased by 4.86% to reach $0.000006836 as I pen this down. At the same time, its market capitalization stood at a substantial $2.90 billion. Furthermore, there was an impressive surge in the coin’s 24-hour trading volume, amounting to $1 billion – a 12.33% rise.

Additionally, Coinglass reports that PEPE open interest grew by 9.35%, reaching $64.59 million. Short sellers accounted for most of the liquidations, totaling $1.15 million out of $2.12 million. These short liquidations might lead to an immediate increase in Pepe Coin price as short sellers attempt to reduce their losses from the recent surge.

According to Max Schwartzman, founder of Because Bitcoin, there may be a surge in Pepe Coin’s value up to $0.0001 based on current crypto analysis. He underlined the value of understanding rejections at crucial price points and acknowledged their significance alongside breakthroughs. Although pullbacks can be unsettling, Max insisted that they play a vital role in ensuring market stability.

He also mentioned that PEPE has surpassed a prolonged consolidation period, hitting the 1.618 Fibonacci expansion point. This progress is viewed favorably as it underscores the significance of the 1.618 Fibonumeric extension and suggests potential for more growth. Furthermore, he pointed out, “The levels 2.618 and 3.618 are also significant and currently relevant.”

The price of Pepe Coin is predicted to initially rise by $0.0004 and then significantly surge to $0.0001 according to this person’s assessment. They are optimistic about PEPE‘s future direction, stating that it is “very bullish.” Moreover, they have not sold any of their investment in Pepe Coin yet and anticipate significant gains over the next few months.

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2024-04-23 10:18