Today’s cryptocurrency market saw renewed upward momentum, with Bitcoin (BTC) gaining over 5% to approach $91,000. This rally has reinvigorated interest in memecoins, with Pepe ($PEPE )—currently the third-largest memecoin by market capitalization—leading the surge. PEPE climbed an impressive 46% to reach a new all-time high of $0.00001999, with 40% of these gains occurring within the last hour following a significant listing announcement.
Robinhood Lists PEPE, Driving Buying Interest
The primary catalyst behind PEPE’s remarkable rally is its recent addition to Robinhood Crypto’s U.S. trading platform. Just an hour ago, Robinhood announced that it has listed four new cryptocurrencies—Solana (SOL), Pepe (PEPE), Cardano (ADA), and XRP (XRP)—bringing the platform’s total offerings to 19 cryptocurrencies. Robinhood’s wide reach among retail investors has fueled significant buying interest in PEPE, propelling the token to new price highs.
Is This the Start of a Bullish Rally?
PEPE’s price chart shows a promising bullish setup. The token recently broke out of a descending triangle pattern on November 7 at $0.00001070, climbing to $0.00001459 before briefly pulling back to a support level at $0.00001275. Today’s listing announcement not only enabled PEPE to surpass its previous all-time high of $0.00001718 but also propelled it to $0.00001999.
Currently trading around $0.000018, PEPE may see a short-term retest of its previous all-time high before potentially resuming its upward trajectory. If the token holds its current support, it could continue rallying toward the upper trendline on the chart, with potential gains approaching 100% from current levels. Technical indicators also indicate strong bullish momentum, as the Relative Strength Index (RSI) is rising, though traders should remain vigilant for potential overbought conditions.
With Robinhood’s support driving heightened visibility and buying interest, PEPE could be well-positioned for additional gains. As always, traders should consider broader market trends and technical indicators when assessing the sustainability of the rally.
