The meme coin world is buzzing with excitement as Pepe (PEPE) has experienced a remarkable 10% surge, leaving traders eager to capitalize on what they believe is a promising trajectory. This frog-themed token has captured the attention of cryptocurrency enthusiasts, sparking predictions of even greater gains to come.
Crypto analyst Bluntz, known for their sharp insights, has declared that ‘frogs are back in fashion’ with a tweet highlighting Pepe’s break out of its downtrend accompanied by significant volume. This sentiment is echoed by trader Jameson, who predicts an ‘inevitable monster breakout’ for Pepe, forecasting an uptrend that will take off once Bitcoin makes its own move. Jameson goes as far as to label Pepe the ‘chosen altcoin of this cycle,’ believing it has the potential to surpass Shiba Inu in popularity.
While VikingXBT also sees upside potential, they believe a slight retrace might occur before the full ascent begins. Their strategy is to ‘ladder in buys’ after the expected retracement.
The increasing adoption of Pepe is further evidenced by its listing on prominent exchanges like Kraken and Robinhood Crypto. Kraken has made Pepe available to its U.S. clients, while Robinhood is facilitating Pepe transfers on its app and offering a 1% deposit bonus for a limited time. This influx of activity has translated into a 252.9% increase in large transactions and a 61.8% rise in daily active addresses, according to IntoTheBlock. Transactions exceeding $100,000 have skyrocketed from 162 to 409 in a single day, with holder balances reaching a staggering $1.8 billion.
The influence of meme coins and the potential of Pepe will be a key discussion point at Benzinga’s upcoming Future of Digital Assets event on November 19th. It seems the meme coin market is alive and well, and Pepe is rapidly becoming a major player. Whether it will truly live up to its potential remains to be seen, but the current momentum suggests a captivating story unfolding in the cryptocurrency world.
