PEPE Coin Gains Support for MENA Fiat Pairs on Binance Platform

PEPE coin is gaining significant attention as it expands its reach. The latest development of PEPE is that Binance, the latest cryptocurrency trading platform, has launched a new trading pair for PEPE.

Cryptocurrency exchange Binance has added new trading pairs for the popular meme coin PEPE (PEPE) with fiat currencies in the Middle East and North Africa (MENA) region.

The development follows a period of sluggish performance for PEPE, which had seen its price drop by as much as 2% in the past 24 hours. However, the addition of the new trading pairs is expected to boost demand for the meme coin and improve its market position.

Binance Adds MENA Fiat Pairs for PEPE Coin

Binance has announced the addition of support for PEPE crypto to trade with local currencies in the MENA region, enabling users to trade the meme coin directly with their fiat currencies.

With a large user base to trade PEPE through new pairs, the demand should increase. It should improve the market position of the PEPE coin.

According to the statement, the new trading pairs will allow users in the MENA region to trade PEPE directly with fiat currencies such as the Egyptian pound (EGP), the Moroccan dirham (MAD), and the Tunisian dinar (TND).

The move is seen as a positive development for PEPE, especially given the recent slowdown in the broader cryptocurrency market. It has attracted investors’ attention, especially after the performance of other meme coins, such as DOGE and SHIB.

PEPE Whales Make Large Accumulation

In a recent post on X by Onchain Lens, a crypto whale has made a large purchase in the last 24 hours.

Per the transaction, a crypto whale bought over 107.89 Billion PEPE coins at an average price of $0.0000194, amounting to $2.1 Million.

The significant whale accumulation shows that large investors have reignited their interest in PEPE’s potential for a rally in the coming days.

Crypto whales are known to make large-volume trades that can significantly impact the price of a cryptocurrency. The recent accumulation of PEPE by a whale suggests that they are bullish on the meme coin and expect it to rally in the coming days.

PEPE Price Action and Metrics Standpoint

PEPE price action indicated a double bottom formation around the $0.00001700 mark. It traded in a strong bullish phase and held gains above the key EMAs. However, the meme coin was facing a trendline hurdle of $0.00002000 and struggled to register a decisive close above it.

Once it clears the barrier of $0.00002000, it could see a significant upswing and move toward the $0.00002500 mark in the coming days.

The Relative Strength Index (RSI) had a reading of 50, depicting neutral indications on the chart. However, the MACD indicator remained firmly positive, signaling a bullish crossover on the chart.

The increase in daily active addresses for PEPE was encouraging as well. In the last seven days, new addresses rose over 52.79%, while active addresses soared over 57%, highlighting growing user engagement and interest in the ecosystem.

This surge in network activity coincides with the recent price growth, as increased demand often drives strong market confidence.

The price action signals the likelihood of a breakout above the $0.00002000 mark in the near term and continuing its upward trajectory.

However, if the immediate support zone of $0.00001700 was breached, the bullish thesis would be invalidated.