PEPE Coin Triggers Memecoin Rally With New Listing, Key Levels To Watch

PEPE coin recently experienced a surge in its price level following the announcement of a listing on the Japanese cryptocurrency exchange BitFlyer.

This marked a significant milestone for the frog-themed memecoin, especially in its push for global expansion.

PEPE Coin Listing on Japan’s BitFlyer

According to an X post, BitFlyer listed the PEPE token on January 30, making it available to its Japanese users.

Going forward, these users can trade the memecoin, although deposits and withdrawals were temporarily unavailable on BitFlyer.

The exchange has promised to inform the public once the service becomes activated.

In most cases, such listings on major crypto exchanges are always instrumental to the growth of any coin they are engaged with.

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Earlier this month, Binance announced the expansion of its support for the token in the Middle East and North Africa (MENA) region. Almost immediately, the token surged by 3%, underscoring the potential of increased accessibility to PEPE.

Hence, PEPE’s recent price rally hardly comes as a surprise to the broader crypto market. At the same time, it marks a tangible rebound for the token.

Meanwhile, Ethereum co-founder Vitalik Buterin bought a significant amount of PEPE a week ago. Blockchain transaction data showed that he acquired 508.6 million PEPE tokens.

Thereafter, crypto community members began speculating whether PEPE’s price would rise to $1 based on Buterin’s endorsement.

Notably, some perceived the move as a signal of Vitalik’s confidence in the further growth of the asset. However, another group pointed out that the massive quantity bought is relatively small ($10,500) in financial terms.

It wasn’t long after that the newly launched TRUMP overtook PEPE in the market, taking the spotlight away from PEPE.

Impact on Price Outlook

PEPE has experienced some price fluctuations at the time of this writing, moving through the “green” and the “red” candles, respectively.

In the meantime, the PEPE price was trading at $0.00001303 after gaining 3.39% of its price in 24 hours. Following this growth, PEPE has reclaimed the 3rd largest memecoin position from TRUMP.

Historically, PEPE coin is not overbought yet. According to market data, around January 22, the token’s Relative Strength Index (RSI) rested at 39.

This hinted at a potential bearish market, but the Moving Average Convergence Divergence (MACD) suggested otherwise.

The MACD line was located below the signal line, indicating that traders are cautious. This was perceived as more of a consolidation zone for PEPE, with the possibility of a breakout if the broader market conditions turn positive.

The current outlook shows the foundations set earlier as pointed out are poised to materialize. Moving forward, the PEPE price will likely attain the $0.00002000 mark and beyond, and its recent price rally supports this stance.

PEPE Forecast, General Memecoin Rivalry

By all indications, TRUMP is competing for market share with PEPE coin, as is not unseen with newly launched crypto projects.

Still, market watchers and experts anticipate PEPE will register a massive gap in valuation soon. As an established memecoin, the volatility is reduced and the prospect for growth remains high.

Notably, many still hold the position that it has the potential to make millionaires from its investors.