Coinbase has announced that the trading of 1000PEPE-PERP contracts will begin on April 23, 2024. This move by Coinbase to add perpetual PEPE futures to its platform reflects the company’s commitment to expanding its financial products and catering to the diverse needs of its global user base. The introduction of these futures contracts provides traders with more options for hedging and leverage in a highly liquid market.
PEPE, the memcoin, has shown a strong recovery, with its price rising to $0.000007 at the time of writing. It is worth noting that PEPE is the only memcoin in the top 10 that has experienced an increase in the past 24 hours. Over the past week, the price of PEPE has risen by 33.8%, surpassing Dogwifhat (WIF) to claim third place in the ranking of the most capitalized memcoins.
Technical analysis of the candlestick chart indicates bullish momentum, as the price has broken through key resistance levels and there is strong buying pressure. The relative strength index (RSI) has risen to 50, but it remains below the overbought threshold, suggesting that there is still room for the market to rise. Additionally, the MACD indicator shows a bullish crossover and rising histogram bars, further supporting the uptrend. If PEPE can maintain support above $0.00000740, it could potentially reach a new one-month high at $0.000008.
In summary, PEPE’s market performance deviates from recent consolidation trends, making it a potentially surprising investment opportunity for investors.
Disclaimer: This article is for informational purposes only and should not be considered as financial or investment advice. Please conduct your own research and consult with a professional before making any financial decisions.