PEPE, the frog-based meme token, noted substantial gains over the past few days, gaining significant traction among investors. Here are some of the top reasons to buy and hold Pepe coin.
STORY HIGHLIGHTS
Pepe coins rallies phenomenally, targeting a new ATH.
Coinbase expands support for Pepe coin.
PEPE accumulation by whales and a market maker on the rise.
The frog-based meme token notes a price jump today.
Pepe Coin (PEPE), one of the most renowned meme cryptocurrencies, has recently garnered noteworthy attention among crypto market traders and investors globally as its price surged phenomenally over the past few days. This price rally has in turn sparked speculations over the frog-based meme token’s price trajectory ahead, with crypto market enthusiasts expecting the token to potentially target a new ATH soon.
Here are some of the top reasons why now could be the best time for crypto traders and investors to buy PEPE.
Coinbase Expands Support For PEPE
Notably, Coinbase, one of the leading CEXs worldwide, recently commenced Pepe perpetual futures contracts trading on its platform, expanding the support offered to the meme token. This perpetual listing event appears to have brought about a remarkable rising price action in PEPE, enabling participants outside the United States to leverage trading the asset.
Staging as optimistic news for PEPE, this listing event was followed by nearly 50% gains noted by the token. Meanwhile, it’s also worth noting that Coinbase initially planned to commence perpetual trading for the token as of April 11. However, the listing was postponed due to technical hurdles until it was unveiled on April 23.
PEPE Accumulation by Whales & Market Maker Burgeons
Additionally, blockchain data surfacing over the crypto horizon spotlighted PEPE accumulations by whales and a market maker on the rise. Amber Group, a market maker, accumulated a staggering 110 billion PEPE from Binance today, April 25. Moreover, a recent analysis by CoinGape Media further highlighted a 211.6 billion PEPE accumulation by a whale, pouring a flurry of market optimism to the token.
This phenomenon, showcasing colossal accumulations surrounding the frog-based meme coin, projects a ray of optimism into Pepe coin’s future, underscoring increased confidence in the asset’s cryptographic journey.
Derivatives Data Underlines Market Uptrend
Further, Coinglass’ data garnered substantial investor optimism today, reinforcing a strong market uptrend for the meme coin.
PEPE’s open interest surged 4.28%, whereas its derivatives volume spiked 9.66%, portraying a bullish mindset of investors. Aligning with this, substantial new money entered the market as open interest rested at $75.42 million, whereas the derivatives volume stood at $1.13 billion.
Pepe Coin Gains Nearly 45% Over The Past Week
Meanwhile, the frog-based meme token’s weekly charts illustrated a whopping 43.98% surge over the past week. Further underscoring a constant increase in buying pressure within the market, Pepe reflected signs of a bull run with its abovementioned surge in the past seven days. This adds a layer of market optimism to the meme token, flagging Pepe coin’s immense potential to offer investors significant gains.
PEPE Price Jumps
Meanwhile, as of writing, PEPE’s price traded at $0.000007419, up 1.07% in the last 24 hours. Its 24-hour lows and highs are $0.000007079 and $0.000008056, respectively.
Moreover, the token’s 24-hour trading volume spiked 4.80%, reaching $1.2 billion, whereas the market cap jumped 1.05%, resting at $3.11 billion. Collectively, this phenomenon has further ignited bullishness on Pepe Coin, as a post-BTC halving rally has yet to be witnessed in the market. Pepe Coin is among the most renowned meme coins that are expected to witness a rally mirroring BTC’s parabolic uptrend post-halving.