Surge in Cryptocurrency Market Boosts Memecoins PEPE and WIF

Introduction

The cryptocurrency market has witnessed a remarkable upswing in the past 24 hours, primarily driven by Bitcoin's (BTC) record-breaking peak of $91,434. This surge has had a positive impact on leading memecoins, namely Ethereum-based Pepe (PEPE) and Solana-based Dogwifhat (WIF), which have experienced significant gains.

Major Exchange Listings Catalyze PEPE and WIF's Rally

A key factor contributing to this rally is the recent wave of exchange listings for both Pepe (PEPE) and Dogwifhat (WIF). PEPE was listed on Upbit, Korea's largest exchange, today, following listings on Robinhood and Coinbase yesterday. Dogwifhat (WIF) was also listed on Coinbase shortly after PEPE.

PEPE's Outlook

After breaking out of a descending triangle pattern on November 7 at $0.00001070, PEPE has demonstrated significant upward momentum following the listing announcements. It has not only surpassed its previous all-time high of $0.00001718 but has also surged to a new peak of $0.00002524.

Currently trading at $0.00002357, PEPE is holding above a support level of $0.00002235. If this level remains intact, PEPE could continue its rally towards the upper trendline on the chart, potentially resulting in an additional 50% gain from its current price. Conversely, if there is a pullback, PEPE might retest its support level, with a possible reversal from there targeting a similar upside.

Dogwifhat's Outlook

WIF has also exhibited strong momentum, breaking out on November 11 at $2.68. Following its listing news, WIF nearly reached its all-time high resistance level of $4.85 but encountered a minor rejection. It is currently trading at $4.09, which aligns with a critical support level.

If WIF holds this level, it could attempt another run at its all-time high. However, if it fails to maintain this support, the next support level to monitor is $3.59, which could provide a foundation for a bounce.

Conclusion

The recent exchange listings have ignited robust bullish momentum for both PEPE and WIF. PEPE has achieved new all-time highs, while WIF remains close to its peak. If they maintain their current support levels, both tokens could experience further gains in the near term, with PEPE potentially targeting a 50% rise and WIF aiming for its previous high. However, if these support levels weaken, we may observe retests of lower levels before any further upward movement.

Disclaimer: This article serves as informational content only and should not be construed as financial advice. It is crucial to conduct thorough research before engaging in any cryptocurrency investments.