The Bitcoin split that is supposed to happen on April 20, 2024, is getting closer and there is a lot of interest and talk in the cryptocurrency market. Every four years, this event takes place. Its goal is to lower the number of new coins that are made and available on the market. In the past, halving has been linked to big price raises for Bitcoin, which can spill over into some altcoins. In the middle of all this, Pepe Coin (PEPE), a famous Solana joke coin, stands out as a way for the market to make money. Even though PEPE had a rough month because the market was going down, it has started to show signs of recovery in the last week. Even though the price has gone up and down, is the frog-themed joke coin about to go up in price before Bitcoin?
Pepe Coin’s Possible Rise
Ali Martinez is a crypto expert who thinks Pepe Coin will have a bright future. Depending on how high PEPE goes above a key price level, he thinks it could experience a big 54% rise. Martinez specifically names the area between $0.00000793 and $0.00000664 as a key area. If Pepe Coin’s daily close goes above or below this area, it could mean that there is a strong positive trend.
Martinez thinks that PEPE could hit a new all-time high of $0.0000122 if it can close above $0.00000793. The all-time high price is now $0.00001074, which it was on March 14, 2024. For buyers who are keeping a close eye on PEPE’s performance, this possible rise is a great chance.
The perpetual futures offerings on Coinbase International
Coinbase was hesitant to add PEPE in the past because it was linked to hate symbols. Still, the decision to add PEPE futures to the list is a move that was likely caused by market demand and the success of joke coins.
From a market value point of view, PEPE is the fourth largest meme coin, worth $2.91 billion. It’s worth between $0.000006826 and $0.000007536 right now. The value of the coin has gone up by about 5% in the last week, even though it is still 33.32% less than its all-time high of $0.00001074.
Coinbase may have thought about letting people trade futures for PEPE because the market is excited about meme coins and PEPE is a very important Ethereum (ETH) token.
@CoinbaseIntExch will add support for Pepe perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our 1000PEPE-PERP market will begin on or after 9:30am UTC on 18 APR 2024. pic.twitter.com/DKu8YPGRYB
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) April 11, 2024
PEPE’s Current Market Position
Launched in April 2023, Pepe Coin is currently the fourth most valuable meme coin by market size, with a value of about $2.91 billion, according to CoinMarketCap. Even though it has been in trouble in the past for being linked to the figure Pepe the Frog, the community is still focused on the coin’s growth and listing goals.
In addition to what Coinbase International offers in permanent futures, Binance has also added Pepe Coin to its loan services to make them better. This smart move might have an effect on PEPE’s price soon, making it more appealing to a wider range of buyers.
Price Levels to Keep an Eye On
An important price level for PEPE is being closely watched by investors. The price of the coin is just above a turning point at $0.0000071. If it stays above this level, positive signs might start to show up. If the price does go down, though, it will show that prices are going down.
The price of Pepe Coin will face barriers at $0.0000074, $0.0000076, and $0.0000079 if there is a lot of selling pressure. If the price of the token goes up even more than these amounts, more gains will be made. But if people keep buying, the price of the coin will find support at $0.0000070, $0.0000067, and $0.0000064.If the price falls below these support levels, it means that you should buy.
The future and the end
The upcoming split of Bitcoin and other market events have a lot to do with the future of Pepe Coin. Even though the mood is a little negative right now and economic signs are sending mixed messages, Pepe Coin still has a lot of promise in the long run.
As the first split of Bitcoin gets closer, investors and fans are closely watching the next private movement for PEPE coin. Traders should also keep an eye on key levels and important changes at markets like Binance and Conbase. There are a lot of unknowns in the cryptocurrency market because it is so changeable. How PEPE does in the coming days and weeks will show us a lot about its future.
As the market changes quickly, the chance that PEPE will rise before Bitcoin is split in half is an interesting chance for both experienced and new buyers.
