Pepe Soars as Coinbase Listing Fuels Speculation and Optimism

Coinbase International Exchange will list perpetual futures trading for Pepe (PEPE/USD) on April 18, sparking anticipation among traders. The crypto community speculates on potential future listings on Coinbase Spot and Robinhood, leading some to predict a surge in PEPE's value. Popular traders cite meme coin trading principles and compare PEPE's current momentum to Dogecoin's earlier rise.

Pepe Surges on Coinbase Listing, Sparks Speculation and Optimism

The cryptocurrency market has been abuzz with excitement following the announcement by Coinbase International Exchange and Coinbase Advanced that they will list Pepe (PEPE/USD) perpetual futures on April 18th. The news has ignited a wave of optimism among traders and analysts, who anticipate significant growth and potential for the token.

Market Buzz and Speculation

The crypto community is abuzz with speculation about the potential for Pepe to follow a similar trajectory to other meme coins, such as Dogecoin (DOGE/USD) and Shiba Inu (SHIB/USD), which have experienced meteoric rises in recent months. Popular YouTuber Crypto Rover fueled these sentiments, tweeting, "I think that $PEPE will soon explode again."

Meme coin trader intuition, known for his analytical insights, had predicted Pepe's potential to surpass Shiba Inu in April, even before the Coinbase announcement. He cited several compelling reasons for investors to consider buying Pepe, including:

• Strong Community and Holding Power: Quality holders who have accumulated Pepe over the past year are unlikely to sell for small profits and instead intend to hold out for larger gains.
• Technical Opportunity: The current meme triangle correction, following a 10x surge, presents an opportunity for savvy investors to enter the market at a favorable price point.
• Historical Comparison to Dogecoin: Intuition drew parallels between Pepe and Dogecoin's tenfold increase in 2021, which was triggered by a Bitcoin breakout, calling it "basically a replica of DOGE."

On-Chain Activity Signals Bullish Sentiment

Data from IntoTheBlock reveals promising on-chain metrics for Pepe. Approximately 75% of Pepe holders are currently profitable, indicating a strong belief in the token's potential. Interestingly, there are no holders who have held the token for more than a year, suggesting that the majority of holders are relatively new to the market and have a strong appetite for growth.

Furthermore, the number of transactions exceeding $100,000 has surged from 133 on April 10th to 232 as of April 11th, reflecting increased institutional interest and whale activity.

Trading Volume Surges

Pepe's trading volume has witnessed a notable spike in the past 24 hours, rising by 49% to reach a staggering $711.5 million. This surge has surpassed both Shiba Inu and Dogwifhat, which reported trading volumes of $456.6 million and $263.3 million, respectively.

Price Action and Future Outlook

At the time of writing, Pepe is trading at $0.000006987, up 2.4% on the day. While the broader cryptocurrency market is experiencing volatility, analysts remain optimistic about Pepe's potential.

The upcoming Future of Digital Assets event on November 19th, hosted by Benzinga, will explore the influence of meme coins and the emergence of Bitcoin as an institutional asset class. The event is expected to provide valuable insights into the future of Pepe and other cryptocurrencies.

Conclusion

The Coinbase listing has injected a surge of optimism into the Pepe market. Strong community support, bullish on-chain metrics, and increasing institutional interest suggest that Pepe has the potential to continue its upward trajectory. The upcoming Future of Digital Assets event will provide additional insights into the future of Pepe and other digital assets.