The week in the cryptocurrency market begins in a stable manner, although the highlight is the meme coin PEPE, based on Ethereum, which surprises with a significant increase in value. In the last seven days, PEPE not only rose 20% in 24 hours but accumulated a gain of 35% in 7 days. This rise comes amid a halving period for bitcoin and Ethereum, which recorded modest increases below 3%.
The jump in PEPE price to $0,00000690 comes after the announcement that Coinbase International, a global extension of the leading US cryptocurrency exchange, will include PEPE perpetual contracts on its platform. The initiative, which was initially scheduled to begin on April 18, was postponed to April 23 due to technical issues.
This news was widely celebrated by the community of crypto enthusiasts, who expressed their enthusiasm through a series of memes on Crypto Twitter. In addition to PEPE, Coinbase is preparing to introduce perpetual futures for Solana meme coin Dogwifhat (WIF), expected to begin on April 25.
@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 23 APR 2024.
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) April 22, 2024
Technical indicators for PEPE also show promising signs. The coin recently surpassed the EMA55, which could indicate a recovery after a significant correction of almost 13% over the last month. If the positive trend continues, PEPE could reach new levels of resistance at US$0,00000755 or even US$0,00000900. On the other hand, a pullback could see the price test recent support at $0,00000510.
The entry of PEPE into perpetual contracts on Coinbase is an important milestone, as it offers greater liquidity and visibility for the currency. Such developments are essential to attract both experienced investors and newcomers to the world of cryptocurrencies, increasing interest and participation in the crypto ecosystem.
