Pepe is showing signs of a buildup in buying momentum after being a sleeper for months. In the last 7 days, PEPE is up by 13%, and that momentum is sustained today when PEPE is up by 5% and gaining.
Pepe is one of the most popular meme coins on the Ethereum network and is known for its deflationary tokenomics. While it was initially created to ride the Shiba Inu and Dogecoin waves, Pepe has, over time, gained a life of its own. Investors have increasingly been drawn to PEPE because it does not have a tax, as with most meme coins. PEPE is also one of the most transparent meme coins in the market today. While some meme coins lie about their supposed utility and non-existent roadmaps, PEPE is clear that it is purely a meme coin, and investors love it for what it is.
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lord of the memes $PEPE pic.twitter.com/3bohwApCFd
— Pepe (@pepecoineth) February 22, 2024
Coinbase Soon?
There has been a renewed investor interest in PEPE in the past week. This is mainly due to speculation that PEPE could soon be listed on Coinbase. PEPE is already available on the Coinbase wallet, but investors cannot trade it on the exchange. The excitement around a possible Coinbase listing is not without basis.
First, there is the hype that usually comes with a new crypto listing, especially on tier-one exchanges. As such, speculators are taking positions ahead of such an outcome. Besides, now that such a listing could come at a time when the cryptocurrency market is in the early stages of another bull cycle, it means that FOMO could build up pretty fast.
Closely linked to exchange listing hype is the fact that Coinbase is one of the most used exchanges in a major market – the US. This means such a listing could open up significant demand for PEPE in the US, similar to how the listing of Dogecoin on Robinhood did to the price of DOGE in the last crypto cycle.
Coming Ether Tokens Pump
There is also a connection between PEPE’s awakening and the upcoming Ethereum hard fork slated for March 13th. The hard fork is expected to make it cheaper for investors to transact in Ethereum-based tokens through layer-2s such as Optimism. The result is that there could be a major shift towards Ethereum tokens, and PEPE, one of the better-known Ethereum-based meme coins, could be up for a surge in demand.
EigenLayer, eip4844 will pump even your shitcoin on EVM!
— 〽️ᄃﾑt 🐾 (@mztacat) January 10, 2024
The best part is that PEPE is easily available to the average investor today. Investors can buy PEPE through top centralized exchanges like Binance, KuCoin, and Kraken. PEPE is also available through top DEXs such as Uniswap V3 and Pancake V3.
In the section below, we look at PEPE’s possible price direction going into the future. The idea is to determine whether it is the best meme coin to buy now.
PEPE Crypto Price Prediction
When going to press, PEPE traded at $0.000001354, a market capitalization of $569.08 million. Volumes were also rising, up 12% to $172 million.
PEPE is currently struggling at the $0.00000141 resistance, a price that it has failed to break decisively since January.
If PEPE bulls break the $0.00000141 resistance, the next critical level to watch would be the multi-month high of $0.00000175. If PEPE manages to push through $0.00000175, then FOMO could kick in, and PEPE could be on its way to killing a zero or several of them and hit new all-time highs.
However, if buying volumes stall and PEPE cannot break the $0.00000141 resistance, then two scenarios could play out. The first is a consolidation between the $0.00000141 resistance and $0.00000115, now a critical intra-day support level.
On the other hand, if bears take control and push PEPE through the $0.000000115 support, then the upside momentum built so far could be lost, and PEPE could easily add another zero with $0.00000063 as the next significant support level.
Why a PEPE Bullish Breakout Is Most Likely
While there is always a chance that a consolidation or a downside break could happen, the odds favor the bulls. That’s because the expectations of a possible Coinbase listing will likely keep the market glued towards PEPE. At the same time, the upcoming Ethereum upgrade will make it easier for investors to trade in Ethereum meme coins, and PEPE, being a giant in that space, could be set for significant inflows that could propel the price to new heights.
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