4 Possible Reasons Behind PEPEs 50% Surge to New All-Time High
TL:DR;
- The third-largest meme coin has exploded by 50% in the past 24 hours and over 100% on a weekly scale.
- The asset was listed on a few global exchanges lately, which could be among the reasons of the massive rally and the new all-time high.
Exchange Listings
It does feel like a bull market now, especially for some more volatile cryptocurrencies, like meme coins. After the recent rallies by DOGE and SHIB, now is the time for the third-largest of the cohort PEPE. The frog-inspired meme skyrocketed by 52% in the past 24 hours and blasted through its previous all-time high. As such, it marked a fresh peak of $0.00002.
Perhaps the two most evident reasons come from Robinhood and Coinbase. The former said it will start offering trading services with the meme coin, as well as SOL, XRP, and ADA.
Almost at the same time, Coinbases Chief Legal Officer Paul Grewal indicated that the largest US-based exchange will follow the same path when it comes down to PEPE. Moreover, Grewal confirmed the speculations that PEPE will be listed as soon as today.
Youve long wanted the frog. Well, soon youll get the frog. @coinbase is adding PEPE to our listing roadmap with the goal of listing later today. Thanks for your patience.
paulgrewal.eth (@iampaulgrewal) November 13, 2024
Market Surge
The other two possible reasons are mostly related to the entire cryptocurrency landscape and are not so PEPE-centered. After all, the entire market has turned green today, with bitcoin exploding above $90,000 to register yet another all-time high of over $93,000.
Many altcoins have followed suit, while the meme coins have taken the main stage once again, which is actually the fourth possible reason. The majority of those within the top 100 alts are up by double digits, including DOGE, WIF, BONK, FLOKI, POPCAT, and BRETT. One, PNUT, has skyrocketed by triple digits, but thats a different story.
Consequently, it seems as if investors have turned to the ever-volatile meme coin niche during these bullish times for the promise of quick gains. However, please be advised that these tokens can go down just as quickly as they can surge, so investors should be wary before investing in them.
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