During Friday’s U.S. market session, the cryptocurrency market experienced a resurgence of buying pressure, spurred by Bitcoin’s 3% surge to an all-time high of $98,616. This bullish momentum spilled into the altcoin market, leading to significant price action for various cryptocurrencies, including PEPE coin, which saw a decisive breakout from a two-week corrective phase.
PEPE Gains Ground Amid Bitstamp Listing
PEPE coin has officially joined Solana (SOL) in being listed on Bitstamp for U.S. trading, opening new avenues for American investors to trade the popular meme cryptocurrency. As of now, PEPE is trading at $0.00002, reflecting an intraday gain of 9%, with its market cap standing at $8.1 billion and a robust 24-hour trading volume of $3.2 billion, according to Coingecko.
This strategic listing by Bitstamp has bolstered market sentiment, injecting fresh liquidity and confidence into the PEPE market. The exchange’s move is anticipated to attract increased trading activity, further fueling the rally as December approaches.
Bullish Technical Indicators Signal Continuation of Uptrend
The PEPE coin’s breakout from its flag pattern is a strong indicator of continued bullish momentum. This technical setup, characterized by converging trendlines during a brief consolidation phase, has now resolved in favor of the bulls, pointing toward a sustained uptrend.
Adding to the optimism is a bullish crossover between the 20-day and 50-day Exponential Moving Averages (EMAs), which supports the case for further gains. Analysts suggest that the 100-day EMA could act as a critical support level during any potential pullbacks, ensuring that the recovery trend remains intact.
PEPE Coin Price Outlook – Aiming for New Highs
Over the past three days, PEPE’s price has climbed from $0.000016 to $0.000020, marking a 19.5% surge. This recovery aligns with the broader market’s positive momentum, led by Bitcoin’s ascent. If the breakout pattern holds, PEPE could be on track for a 70% rally, potentially targeting the $0.000035 level.
The listing on Bitstamp and the renewed market enthusiasm underline PEPE’s resilience and ability to capitalize on bullish market conditions. As meme coins are highly speculative by nature, traders are advised to monitor key support levels and broader market trends closely.
The Bitstamp listing of PEPE and Solana for U.S. trading is a pivotal moment for both assets, particularly PEPE, as it seeks to solidify its position in the cryptocurrency market. With robust technical indicators and increasing accessibility, PEPE appears poised for continued growth, making it a coin to watch as the year closes out.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
