Pepe Coin Up By 50% – Is This A Profit Or A Loss?

The second largest memecoin on the Ethereum Blockchain is finally progressing after being sidelined for almost a month by Solana-based memecoins like BONK. The Pepe coin price has surged by 50% but compared to its yesterday’s value, it’s showing a 7% decline. 

Currently trading at $0.000007373, the Pepe coin is even trending on Twitter with more than 53,000 posts on the topic. However, in general crypto market is facing a setback. The post-Bitcoin halving volatility is to blame for the current downfall of the cryptocurrency market, as cryptocurrencies experience steep drops due to liquidity concerns. The geopolitical tensions in the Middle East are also becoming a problem for the market.

But in general, the meme market is doing fine with investors gaining some short-term profits. 

Will Pepe Coin Achieve A New ATH Anytime Soon?

One of the most popular meme coins, PEPE has a history of rising beyond these pessimistic circumstances. Because of the obvious bullish flag patterns, cryptocurrency experts like Captain Faibik still think PEPE can rise to the highest point in history.

In addition, whale activity has increased recently as seen by an 11% increase in whale transactions. In just one day, the number of these whales rose from 246 to 273.

Also, the pepe coinmarketcap is at present resting at $895 Million and it is assumed if it keeps going on like this, it will soon occupy the third spot. 

Coinbase x Pepe 

Coinbase declared on April 22 that the PEPE everlasting features would be available on their platform. These perpetual protocols mimic the underlying spot asset performance and are Smart Contracts without an expiration date.

These alternatives were added to Coinbase’s listing on April 23rd, which is what caused its prior spike. Coinbase first revealed its plans for PEPE perpetual future contracts on April 11; however, due to technical difficulties, the announcement was postponed until April 23.

In order to meet the demand for the token, PEPE has been able to grow its market thanks to this innovation. PEPE had a fantastic performance in March, which raised interest in the meme coin. The token has increased dramatically since the month of March began, rising from a low of $0.000002738 to an all-time high of $0.00001074. However, that was short-lived because April hasn’t been kind to the cryptocurrency market!

Conclusion- 

There’s a possibility that PEPE will turn things around and hit the ATH goal if there are any positive signs. All the meme coin needs to regain its previous month’s momentum is a bullish push from the cryptocurrency market. PEPE may be able to surpass the ATH before the month is out if the market reverts to its levels from the previous month.

What an unpredictable world right?

And if you want to stay at par with it, we would advise you to join our team of enthusiastic readers at ReadingCrypto where our team of experts posts everything about the crypto world daily. 

See you again, tomorrow! 

Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.