PEPE Price Surged 50% To Target A New ATH

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As a seasoned crypto investor with years of experience, I’ve seen my fair share of market ups and downs. And let me tell you, the recent price drop in Bitcoin and the subsequent losses for most cryptocurrencies, including PEPE, is nothing new. However, it’s important to note that despite the current bearish trend, meme coins like PEPE have shown remarkable resilience and have the potential to bounce back stronger than ever before.

The crypto market is facing another setback with the Bitcoin price drop. As a result, the majority of cryptocurrencies are under losses, including PEPE. The frog-themed meme coin, PEPE has succeeded in staying in a profit overall this week as the price has surged by 50%, but compared to its yesterday’s value, the token is in a 7% decline. The meme coin is currently trading at $0.000007373, which is just 31% away from its all-time high record set just a month and a half ago.

The recent drop in the crypto market can be attributed to two main factors: first, the heightened volatility following Bitcoin’s halving event, which has caused sharp declines; second, the deteriorating geopolitical situation in the Middle East, adding to the market’s turbulence.

Changpeng Zhao, head of crypto businesses, has been waging a lengthy legal battle against US regulators for nearly three years without forgetting. Unfortunately, an additional challenge arises as the Samourai Wallet founders have recently been taken into custody, facing money laundering allegations.

Inspite of numerous setbacks, the meme stock market remains relatively robust as investors shift their focus toward meme coins in pursuit of lucrative short-term profits.

Can PEPE Achieve A New ATH Soon?

PEpe is a popular meme coin with a strong following, often bouncing back from downturns in the market. Currently, cryptocurrency experts like Captain Faibik predict that PEpe could reach a new all-time high due to emerging bullish trends indicated by distinct flag patterns.

As I observe the price action of $PEPE, it’s becoming increasingly evident that a bullish flag pattern has formed. A bullish flag is typically seen as a continuation of an uptrend, and when this pattern breaks out, it can lead to new all-time highs. Therefore, if this breakout occurs for $PEPE, we could witness prices reaching unprecedented heights.
— Bitcoinsensus (@Bitcoinsensus) April 25, 2024

In addition, there’s been a notable increase in whale activity. Specifically, there’s been a jump of around 11% in the number of whale transactions worth over $100,000. The count of these substantial investors has grown from 246 to 273 within just one day.

Coinbase Futures Listed PEPE

I came across an exciting announcement from Coinbase on the 22nd of April. They unveiled the introduction of PEPE‘s perpetual features on their platform. Unlike traditional contracts with set expiration dates, these perpetuals are Smart Contracts that continue indefinitely. They mimic the performance of the underlying spot asset.

I’ve observed that Coinbase revealed their intention to offer PEPE perpetual futures contracts starting from the 23rd of April. Earlier, they had disclosed this plan on the 11th of April; however, due to some technical complications, the implementation was postponed until then.

The trading of our 1000PEPE-PERP market has commenced in its entirety on both Coinbase International Exchange and Coinbase Pro. Traders can now place various order types, including limit, market, stop, and stop limit orders.
— Coinbase International Exchange (@CoinbaseIntExch) April 23, 2024

I’ve noticed PEPE making great strides in expanding its reach to meet the growing interest in its token during March. The coin put on an impressive show, resulting in heightened demand for the meme currency. As soon as March began, PEPE’s price took off from its low of $0.000002738 and reached a record-breaking high of $0.00001074. However, unfortunately, April hasn’t been kind to the crypto market, including PEPE.

Conclusion

Based on some positive signs, PEPE has the potential to reach its all-time high (ATH) if the crypto market provides a strong uplift. The meme coin is poised for success and only requires a significant bullish surge to regain the momentum it previously enjoyed. Should the market revert to its previous conditions, PEPE may surpass its ATH before the month concludes.

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2024-04-25 20:10