The post ‘PEPE Breakout Starts Now’ Says Analyst As Market Cap Shoots $10B Amidst Listing News appeared first on Coinpedia Fintech News
Pepe’s market capitalization has briefly topped $10.2 billion from around $5.7 billion just a day ago fuelled by the optimism on the recent listing news by major exchanges like Coinbase and Robinhood. Its market cap currently stands at $9.5 billion.
PEPE Surges 77%!
PEPE stands at an impressive 24-hour trading volume of $14.65 billion and a market cap of $9.57 billion, giving it a market dominance of 0.31%. Remarkably, the meme coin’s price surged 77% in the last 24 hours.
Robinhood Crypto yesterday shared that it listed Pepe, Solana, Cardano, and XRP for U.S. customers. Robinhood’s listing of Pepe comes amidst the platform’s relisting of Solana, Cardano and XRP, which were previously discontinued after the U.S. Securities and Exchange Commission targeted various centralized exchanges with charges of offering unregistered securities.
Coinbase also started to allow Pepe trading on Wednesday. Furthermore, Upbit also opened the Pepe trading pair today.
PEPE’s massive surge in price is attributed to its major boost in visibility and demand following its listings on Robinhood and Coinbase on November 14. While Robinhood is the popular exchange among daily US traders, Coinbase is just behind the world’s largest crypto exchange, Binance.
PEPE Outperforms DOGE
PEPE has also outperformed Dogecoin (DOGE). Trading volume for Dogecoin recorded $28 billion over 24 hours. Pepe, meanwhile, clocked $24 billion in mere hours after the listing announcements. In terms of weekly performance, Doge is up 104%, while the frog-themed meme coin has notched roughly 131% over the same period.
Analysts Optimistic Over PEPE’s Potential
Crypto analysts claim that Pepe could follow Dogecoin’s trajectory despite a slow start during the initial few days following the election. “The Pepe breakout starts now,” Daan de Rover, founder of automated crypto trading platform CryptoSea, said Wednesday on X, noting that the token could see another 900% jump.
Crypto trader Smiley Capital shared his views on Pepe that it could potentially reach “SHIB/DOGE 2021 levels” and expects a 5-10x gain from current levels, expecting a “generational top.” Daniel Got Hits suggests that the Robinhood listing is particularly influential due to its reach beyond just crypto-focused platforms.
PEPE has displayed remarkable growth over the past year, rising by an impressive 1,843% and outperforming 88% of the top 100 crypto assets. Its sustained performance, surpassing giants like Bitcoin and Ethereum shows the level of interest and confidence PEPE has gained in the industry.