Pepe has displayed immense strength over the past 24 hours, pumping 15%.
Meanwhile, the new meme coin Dogeverse looks primed to explode next as its presale surges past $10 million.
Coinbase’s institutional-focused arm, Coinbase International Exchange, has launched Pepe perpetual futures contracts trading, enabling clients outside the United States to leverage trade the asset.
The move sparked widespread excitement, and its launch on Tuesday was well-received by the market, with Pepe dominating the meme coin sector since.
It is currently trading at $0.000007907, up 15% today, 47% this week, and 4.5% this month. Currently, Pepe holds a $3.3 billion market cap and a $1.6 billion 24-hour trading volume, up 62% today.
It is the 37th largest crypto by market cap but the 9th largest by trading volume. This reflects the market’s immense interest.
Coinbase’s futures listing has also ignited anticipation that a spot listing on the main platform may follow.
“Coinbase added PEPE perpetual for institutional investors. Spot is next,” tweeted prominent market commentator Plazma recently.
The analyst also noted Pepe’s relative strength, highlighting that it has broken out on its price chart and is “pumping towards a new ATH.”
Other traders are also bullish on Pepe, with Max Schwartzman, CEO of Because Bitcoin, underscoring the significance of its recent bounce:
“You can learn just as much (if not more) from a rejection at a key level as you can from a breakout. After breaking out of a multi-month re-accumulation, Pepe tagged the 1.618 Fibonacci extension level.”
He continued, “The good news here is that since the 1.618 is now officially confirmed as valid and in play, that means that the 2.618 and 3.618 are also valid and in play. I’m very bullish. I expect multiples to be accomplished over the next couple of quarters.”
Based on the analyst’s chart, Pepe could soar to $0.00016 this year, over a 1,900% gain from its current price.
However, Pepe is not the only meme coin expected to return outsized gains in the upcoming bull rally. Another is the newly launched presale Dogeverse, which has raised over $10 million in its opening weeks.
Amid the recent market pullback, Dogeverse has pushed ahead unfazed and has now surpassed the $10 million mark at presale.
Dogeverse’s relentless strength is a sign of things to come, but its use case supercharges this potential.
The project unleashes a new paradigm of meme coin innovation, launching on six blockchains to ensure seamless and ubiquitous accessibility.
The presale is already live on Ethereum, Base, Polygon, BSC, and Avalanche, and the token is also set to launch on Solana.
This negates the risk of users migrating from one blockchain to another, bolstering Dogeverse’s stability and long-term potential.
Another advantage is its staking mechanism, which encourages users to lock up tokens for passive rewards. They can garner a 107% APY, but this will fall as the staking pool grows.
Analysts are overwhelmingly bullish, with Micheal Wrubel recently notifying his 311K YouTube subscribers he has gone “all in” on the presale.
Meanwhile, prominent low-cap trader Jacob Bury dubbed it a “new 100x potential meme coin.”
The presale price will rise throughout the campaign, with the next uptick coming in one day or when the total raise hits $11.2 million.
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