As a seasoned crypto investor with a knack for spotting trends and navigating market volatility, I must admit that the recent surge of PEPE has piqued my interest. The meme coin market is notorious for its unpredictability, but when a token skyrockets by 52% in a day and over 100% on a weekly scale, it’s hard to ignore.
TL:DR;
- The third-largest meme coin has exploded by 50% in the past 24 hours and over 100% on a weekly scale.
- The asset was listed on a few global exchanges lately, which could be among the reasons of the massive rally and the new all-time high.
Exchange Listings
Currently, there’s an energetic surge reminiscent of a thriving bull market, particularly noticeable within the more dynamic cryptocurrencies, including meme coins. Following the recent surges in DOGE and SHIB, it appears that PEPE, the third-largest in its group, is now poised for success. In the last 24 hours alone, this frog-themed meme coin has soared by an impressive 52%, breaking through its previous record high. Consequently, it reached a new pinnacle of $0.00002.
It seems that the primary factors stem from Robinhood and Coinbase. Notably, Robinhood plans to introduce trading for the meme coin, as well as Solana (SOL), Ripple (XRP), and Cardano (ADA).
Simultaneously, Paul Grewal, Coinbase’s Chief Legal Officer, hinted that the leading U.S. exchange would take a similar approach regarding PEPE. Furthermore, Grewal verified the rumors suggesting that PEPE could be listed on their platform as early as today.
For a while now, you’ve been eagerly awaiting the frog. Great news! It seems that very soon, the frog will be within your reach. In fact, @coinbase has announced plans to include PEPE in our upcoming listings with an aim to go live later today. Hang in there and thank you for your continued patience.
— paulgrewal.eth (@iampaulgrewal) November 13, 2024
Market Surge
Two other primary factors influencing this situation aren’t specifically about PEPE but rather pertain to the broader cryptocurrency market. Interestingly, today’s entire market is experiencing a surge, with Bitcoin breaking through $90,000 and reaching an unprecedented high of over $93,000.
Many altcoins have followed suit, while the meme coins have taken the main stage once again, which is actually the fourth possible reason. The majority of those within the top 100 alts are up by double digits, including DOGE, WIF, BONK, FLOKI, POPCAT, and BRETT. One, PNUT, has skyrocketed by triple digits, but that’s a different story.
As a result, it appears that investors are flocking to the unpredictable world of meme coins during market upturns, drawn by the potential for quick profits. Nevertheless, I must caution you that these tokens can plummet just as swiftly as they rise, so potential investors should exercise caution before making any investments.
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2024-11-13 19:36