PEPE Surges 61% After Coinbase Listing

November 15, 2024

Key Points:

• PEPE experienced a 61% price spike within 24 hours of Coinbase's listing announcement.
• A whale earned $5.04 million profit on 52.62 billion PEPE in just 8 days.
• PEPE reached an all-time high of $0.00002524, ranking 15th on CoinMarketCap.

Whale Deposits and Price Surge

A whale deposited a substantial amount of PEPE (52.62 billion) into Binance, leading to a sharp increase in price. This whale later secured a profit of $5.04 million, a 97% gain in eight days.

Major Exchange Listings

Coinbase's announcement to list PEPE and Dogwifhat (WIF) triggered price spikes for both tokens. PEPE surged to an all-time high after the news, reaching the 15th position on CoinMarketCap. Other prominent platforms, such as Robinhood and Upbit, have also listed PEPE.

Another Whale Transfer

Another whale transferred 500 billion PEPE to Coinbase, indicating strong investor confidence. This whale had accumulated PEPE for $2.12 million and has the potential for a significant profit.

Analyst Observations

Crypto analysts believe that PEPE has the potential for further growth. Technical indicators suggest that PEPE's Relative Strength Index (RSI) is above 70, indicating an overbought asset. This could fuel continued rallying but may also result in a market reversal.

Meme Coin Market Gains

PEPE's surge is part of a broader trend in the meme coin market. Other tokens, such as Dogecoin (DOGE) and Dogwifhat (WIF), have also experienced significant gains. However, analysts caution that excessive market greed and emotional trading could lead to volatility.

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