A popular Solana meme coin Pepe Coin (PEPE) increased by approximately 5% today. It is stated that this increase occurred before the permanent futures listing on the Coinbase International Exchange. Additionally, the PEPE breast crypto has also encountered increasing interest.
Coinbase International Exchange Will List Pepe Coin Perp
Coinbase International Exchange announced that Pepe Coin perpetual futures will be listed on the platform at 9:30 UTC on Tuesday, April 23. However, this launch was expected to be listed on the previously scheduled date of April 18 and hence was postponed.
The latest update from Coinbase included the following statements: “@CoinbaseIntExch, Coinbase International Exchange and Coinbase Advanced will add support for Pepe perpetual futures. The opening of the 1000PEPE-PERP market will take place on or after 9:30 UTC on April 23, 2024.”
Previously, when the listing of Pepe Coin futures was postponed, meme coin experienced a decline. While the price drop was triggered by a general downward trend, the launch delay accelerated this decline. However, the crypto community welcomes Coinbase’s adoption of Pepe Coin. Because there had been an argument between the two parties before.
Coinbase exchange once marked Pepe Coin as a “hate symbol”. However, tensions eased after the conflict. Now the crypto trading arena is preparing to introduce PEPE perpetual futures on its platform.
PEPE Price Increase
At the time of writing, the PEPE price rose 4.86% to $0.000006836 on Tuesday. At the same time, the market value of meme coin was recorded at $2.90 billion. The 24-hour transaction volume for Pepe Coin exceeded $1 billion, increasing by 12.33%.
According to Coinglass data, PEPE open interest increased by 9.35% to $64.59 million. Short positions resulted in liquidations, with $1.15 million of a total position of $2.12 million liquidated. These short liquidations show that sudden buying pressure can momentarily increase the price of Pepe Coin while trying to minimize losses on short positions.
End crypto- In his analysis, Because Bitcoin founder Max Schwartzman hinted that Pepe Coin could rise to $0.0001. Max emphasized the importance of learning from the rejections at key levels and stated that it is important to break these levels. He argued that pullbacks were necessary and beneficial for market health. However, he stated that he expects the rise to continue.
Additionally, Max Schwartzman noted that PEPE has significantly emerged from its multi-month accumulation phase by reaching the 1.618 Fibonacci extension level. This development is considered positive news as it confirms the validity of the 1.618 Fibonacci extension and carries the potential for further gains. Schwartzman also stated that “the 2.618 and 3.618 levels are also valid and in play.”
These levels predict that the price of Pepe Coin may rise first to $0.0004 and eventually to $0.0001. Schwartzman also rated PEPE’s future trajectory as “very bullish.” “I haven’t sold a single dollar from my purse and I’m still expecting multiples to be realized over the next few quarters,” he added.
