Pepe Coin Futures Listed On Coinbase: 'Basically A Replica Of DOGE In 2021,' Claims Trader

Author: Khyathi Dalal | April 12, 2024 10:28am

Pepe (CRYPTO: PEPE) perpetual futures will be listed for trading on Coinbase International Exchange, prompting traders to remain optimistic on the token.

What Happened: The exchange announced the listing on Coinbase International Exchange and Coinbase Advanced, with trading set to commence on Thursday, April 18.

The crypto community is buzzing with speculation about whether Pepe will soon be listed on Coinbase Spot and Robinhood as well. Popular YouTuber Crypto Rover tweeted, "I think that $PEPE will soon explode again."

Meme coins trader intuition stated on his X account that even before the Coinbase announcement, he had predicted that Pepe could surpass Shiba Inu (CRYPTO: SHIB) in April. He provided several reasons why investors should consider buying Pepe:

• Quality holders who have accumulated over the past year are unlikely to sell for small profits and will instead hold out for larger gains.
• Following a 10x surge that left many investors on the sidelines, the current meme triangle correction presents an opportunity for savvy investors to buy into a clear winner.

He also compared Pepe to Dogecoin (CRYPTO: DOGE) in 2021, when it experienced a tenfold increase in just two days, triggered by a Bitcoin breakout, calling it “basically a replica of DOGE.”

However, he cautions traders that this scenario is contingent on Bitcoin not experiencing a significant pullback, stating that he is long and will take profit by the end of the month: "SHIB is just a 5x away. Let’s hope for the best."

Also Read: Pepe Down 9% But Being ‘Top Meme That Isn’t A Dog’ Allows It To ‘Do Stupid Things Potentially,’ Says Trader

Why It Matters: IntoTheBlock data reveals that 75% of Pepe holders are currently profitable, while 14% are at break-even. Interestingly, there are no Pepe holders who have held the token for more than a year. 81% of holders have held the token for 1 to 12 months, while 19% have held it for less than a month.

The number of transactions exceeding $100,000 has increased from 133 on April 10 to 232 as of April 11.

Over the past 24 hours, Pepe’s trading volume has surged by 49%, reaching 711.5 million and outpacing both Shiba Inu and Dogwifhat, which reported trading volumes of 456.6 million and $263.3 million, respectively.

Price Action: Pepe is up 2.4% on the day, trading at $0.000006987 at the time of writing.

What's Next: The influence of meme coins and Bitcoin as an institutional asset class are topics expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.

Read Next: Is Shiba Inu About To Get Dethroned? The Rise Of PEPE Coin

Image: Shutterstock

Posted In: $DOGE $PEPE $SHIB