Yesterday, Coinbase listed the meme coin Pepe (PEPE) on its exchange, leading to a 75% increase in price within 24 hours. However, on-chain analysis suggests that the price could soon decline. The announcement of the listing coincided with Robinhood's decision to also list PEPE, further driving up the price. The increased price led to a rise in transaction volume, indicating potential selling pressure. The Relative Strength Index (RSI) suggests that PEPE might undergo a brief decline, as it is currently in overbought territory. The daily chart shows no resistance at overhead levels but the overbought condition suggests a potential pullback. If the price declines, it could drop to $0.000019, but if buying pressure continues, the coin could rally to $0.000026.
- Content Editor ( beincrypto.com )
- 2024-11-14
Coinbase Listing Boosts PEPE by 75%, Drives Profit-Taking to 9-Month High