PEPE Price Rallies to Higher Lows Signals Strong Bullish Momentum
PEPE, an Ethereum-based meme coin, has been making headlines this month as one of the best-performing cryptocurrencies. Over the past week, PEPE has surged by an impressive 40%, and today alone, it has risen by 23%. As of 12:05 UTC, PEPE traded at $0.00001117, with trading volumes suggesting even higher gains.
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BREAKING: Ethereum memecoin $PEPE (@pepecoineth) price hits new all-time high of $0.00001161.
Up +23% in the past 24 hours.
— Whale Insider (@WhaleInsider) May 21, 2024
Ethereum Boosts PEPE And Other ERC-20 Tokens
The momentum driving PEPE’s rise is primarily attributed to the positive sentiment surrounding the Ethereum ecosystem. This renewed optimism is fueled by speculation that the U.S SEC might approve Ethereum-based Exchange-Traded Funds.
The #Ethereum Season 🔥
Biggest 1 Day Candle In Past 5 Years 🥹
I feel sorry for people who were shorting it and suddenly things went crazy in few hours 🤝
Kept saying to build longs from $3000-2600 🤑 $ETH #EthETF pic.twitter.com/DyOj33xvlQ
— Karan Singh Arora (@thisisksa) May 21, 2024
As one of the standout performers among Ethereum-based meme coins, PEPE is poised to benefit significantly from this optimism as investors flock to ERC20 tokens in anticipation of an Ethereum rally.
PEPE Has Credibility Not Many Meme Coins Can Match
Another factor driving PEPE’s credibility and appeal to investors is its listing on all top-tier cryptocurrency exchanges. These exchanges conduct rigorous due diligence before listing high-risk tokens, ensuring that only credible assets cut it. PEPE’s presence on platforms like Binance has substantially increased investor confidence.
While Coinbase has yet to make PEPE available to US investors, it does offer PEPE perpetual futures for international traders. There is growing speculation that PEPE will soon be listed on Coinbase’s main exchange, further boosting its accessibility and attractiveness.
Bitcoin Also Supporting PEPE’s Momentum
The listing on Coinbase could be a significant catalyst for PEPE, as it would open the door to a vast new audience of U.S. investors. This, combined with the existing international interest, could drive PEPE’s price even higher.
Investors are also likely to experience a FOMO effect, especially given the bullish signals from Bitcoin, the primary market direction indicator. Since bouncing off $57,000 last month, Bitcoin has been on a consistent upward trajectory, crossing the $71,000 mark today. This momentum has sparked hopes of a broader crypto bull rally, encouraging more investors to seek out low-cost, high-potential tokens like PEPE.
PEPE’s Deflationary Nature Attracting Investors
The rising interest in PEPE is not solely due to market speculation. The coin’s inherent characteristics and market positioning also play a crucial role. Unlike many meme coins, PEPE is deflationary. PEPE maintains its deflationary nature through token burns and redistribution of rewards to investors.
At the same time, PEPE is highly decentralized, eliminating the likelihood of founders becoming bad actors and pulling the rug on investors. This may explain why many top exchanges are comfortable with listing PEPE and, in the process, making it available to a broader number of investors.
PEPE Could Kill Two Zeroes Soon
The current market dynamics suggest that PEPE could be on its way to “killing a zero or two” soon. This means that PEPE’s price could increase to multiple times its last all-time highs. The combination of high trading volumes, strong market sentiment, and strategic exchange listings positions PEPE for continued growth.
PEPE’s recent performance highlights its potential as a standout cryptocurrency in the current market. The coin’s substantial gains over the past week and its increasing credibility and strategic positioning make it an attractive investment. As the market anticipates regulatory developments and broader crypto adoption, PEPE is well-positioned to benefit from the evolving landscape. Investors looking for high-potential, low-cost opportunities in the crypto space should keep a close eye on PEPE as it continues to outperform most large-cap cryptocurrencies.
Don’t Miss: PEPE Rallied 22% As Bullish Momentum Rises on Potential Coinbase Listing
PEPE Making Higher Lows Signal to Rising Bullish Momentum
Source: TradingView
PEPE is trading in a bullish channel on the day charts and is currently making higher lows. This means every price dip is being bought up. With this rising momentum, the odds are high that PEPE could be headed to prices above $0.000001200 within the day.
However, if bullish momentum eases up within the day, PEPE will likely consolidate around the $0.00001062 support. This could then be followed by another leg up as bullish momentum continues to build up across the cryptocurrency market.
PEPE Price Prediction
Going by PEPE’s internal price dynamics and the rising bullish momentum across the market, the odds are high that PEPE is headed higher. With Bitcoin and Ethereum all showing strong bullish momentum, the odds are high that PEPE is headed to $0.00001200 or more on the day.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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