PEPE Price Prediction As Momentum Rises Post Coinbase Perpetual Futures Listing

• PEPE sustains momentum that started after Coinbase PEPE perpetual futures
• Surging volumes indicate a possible continuation of the current price rally
• Breaching key resistance could see PEPE test March highs this week

PEPE, the frog-themed meme coin, has been gaining for five consecutive days, outshining Bitcoin and most major altcoins. In today’s trading session, PEPE continues this upside momentum with increasing buying volumes, signaling a continuation of the strong investor interest in PEPE.

Coinbase Perpetual Futures A Gamechanger For PEPE

One significant factor propelling PEPE’s ascent is the recent announcement by Coinbase that it had added PEPE perpetual futures to its trading platform.

We are adding support for PEPE perpetual future on Coinbase Advanced.

The opening of our 1000PEPE-PERP markets will begin on or after 9:30am UTC on 18 APR 2024. pic.twitter.com/yGBWSswiRx

— Coinbase Traders (@coinbasetraders) April 11, 2024

Since Coinbase introduced PEPE perpetual futures on April 18, PEPE has experienced a consistent uptrend, marking higher closing prices each day. This trend underscores the growing appeal of perpetual futures as an avenue for investors to engage with PEPE.

Enhanced Credibility In The Eyes Of Investors

The introduction of perpetual futures on Coinbase has bolstered PEPE’s market position and enhanced its credibility within the meme coin space. This newfound legitimacy has attracted investors to PEPE, distinguishing it from the many other meme coins in today’s market. Amidst a backdrop of heightened anticipation for a Bitcoin halving-driven rally, PEPE’s rise stands out as a testament to its rising market appeal.

Post-Halving Momentum On The Rise Across The Market

With the halving event driving momentum across the market, investor interest in PEPE is poised to get stronger. Recent data reflects a significant surge in trading volumes for PEPE, soaring by 24.57% in the past 24 hours alone to hit $901 million. This surge in volume signals a rapid escalation in investor interest, setting the stage for a potential FOMO rally reminiscent of previous post-Bitcoin halving rallies.

Should PEPE maintain its current trajectory, market analysts speculate it could soon revisit its March highs of $0.00001080 in a few days. The deflationary nature of PEPE, coupled with its listing on esteemed exchanges such as Binance and OKX, provides a favorable environment for such a scenario to unfold in the short term.

In the section below, we do a PEPE price prediction to determine how it could trade within the day and the week. 

PEPE Price In Strong Recovery, Eyes $0.00000779 Key Resistance

PEPE is experiencing an upward surge in momentum, building upon the gains it accrued over the past week. Bulls are in control, driving PEPE towards a critical juncture marked by the $0.00000779 weekly resistance level. Should this resistance be breached, it could herald the onset of a short-term bull rally, potentially propelling PEPE toward its March highs of $0.00001083 soon.

However, the sustainability of this momentum hinges on buying volumes. If buying volumes drop, two plausible scenarios may unfold throughout the day. The first scenario entails a consolidation phase, with PEPE oscillating between the $0.00000779 resistance and the $0.00000490 support levels. Alternatively, should bears seize control, there is a risk of breaching the $0.00000490 support level. This would open the path toward testing the April 13 low of $0.00000400.

Technical analysis suggests that close monitoring of the $0.00000779 resistance and $0.00000490 support and resistance levels is imperative for gauging PEPE’s short-term trajectory. The $0.00000779 resistance level is a pivotal threshold, with a successful breach indicating bullish sentiment and potential for further upside movement. Conversely, failure to sustain momentum could result in a reversion towards lower support levels, exposing PEPE to downside pressure.

Why Bulls Are Likely To Remain In Control

While there is always a case where the unexpected happens, the odds are high that PEPE will remain bullish for the remainder of the day and possibly through the week. One key factor likely to drive this momentum is the rising bullish sentiment in the market after the Bitcoin block halving. A pointer to rising optimism is that most altcoins, especially meme coins, gained by double digits over the weekend. 

With PEPE’s high level of credibility in the market, the odds are high that it could be headed to new highs in the short term. That’s because it is in bull markets that many scam meme coins come up, making it safer for investors seeking parabolic gains while preserving their capital to seek out tried and tested meme coins. The recent introduction of PEPE perpetual futures on Coinbase adds to this credibility.