The crypto market rose across the board, with BTC briefly breaking through $67,000, a rebound for the fifth consecutive trading day. ETH encountered strong resistance at $3,200 and is currently fluctuating below $3,200. BTC and ETH have rebounded, and public chain assets such as Near and Solana have performed well. Market funds are gradually becoming active, and BTC is likely to fluctuate in the range of 60,000-72,000 for a period of time. The U.S. 10-year Treasury yield peaked and fell back, and the U.S. dollar index temporarily slowed down, which is beneficial to the risk market. The three major U.S. stock indexes all rose, boosting the crypto market. The Federal Reserve's net liquidity index fell, and the BTC ETF had a net inflow of $62.2 million on the first trading day of the new week. However, the market has not yet reached a consensus, and the impact of the U.S. dollar index on the crypto market needs to be paid attention to in the future. As investors rushed to buy Meme tokens, PEPE coin saw a sharp increase of 14.7% in the last 24 hours and was trading at $0.00000786 as of 10:30 a.m.
Pepe surges ahead of Coinbase listing
Coinbase announced that it will launch Pepe for perpetual futures trading on its institutional-focused division, Coinbase International Exchange. This move provides more trading options for customers outside the United States, further boosting Pepe's market popularity. As the listing approaches, Pepe has been enthusiastically sought after by the market. Its price has risen by 168% during the week. Currently, Pepe has a market value of $2.9 billion and a 24-hour trading volume of $1.1 billion. Pepe ranks as the 42nd largest cryptocurrency by market value and jumps to 11th by trading volume, fully demonstrating the market's continued interest.
Coinbase originally planned to list Pepe futures on April 11, but it was postponed due to technical difficulties. However, on Monday, Coinbase confirmed that the release will be on April 23, bringing new expectations to the market. Even more exciting is that Meme coin traders predict that Coinbase may also include Pepe in spot trading, further driving up its price.
After the halving, why did meme take off first?
Memes performed the strongest. Of the top ten, 4 coins fall into the meme category, and of the top 15, 7 ($ordi and $sats I also consider memes).
The vitality and consensus of the Meme track in this cycle are incomparable to the previous cycles. First of all, don't be prejudiced against Meme. Meme has the strongest spread and consensus, and the panic buying of foreign investors is beyond your imagination. In this round of bull market, new Meme tokens will definitely emerge, and their market value may reach tens of billions or even hundreds of billions of dollars.
Here, we have to mention the "celebrity effect". In the last bull market, Musk single-handedly led to a global craze for Doge and Shib, giving birth to Meme tokens with a market value of $100 billion. If we were to say which token may be most affected by the celebrity effect in this round, it should be Pepe. The reason is: Musk has mentioned the "frog totem" more than once in his tweets, so Pepe may have his support. Once Musk starts to seriously recommend a token many times, it will represent the global consensus, and it is worth a try to chase the high!
Another thing to note is that Solana must be highly valued in this bull market. Binance has quietly launched Solana since the Bonk bome, and there is a certain probability that the main battlefield of this bull market will shift to Solana. It is recommended to take out a part of the position and buy a few Meme tokens you like. In the later stage of the bull market, there will be a crazier increase. Old investors who have experienced the last bull market know how crazy the second half of the bull market is. A tenfold increase in a Meme token is usually completed within a month.
