Coinbase’s listing of the frog-themed meme coin Pepe (PEPE) has ignited a 75% price surge within 24 hours, triggering the highest profit-taking activity in nine months. While the rally presents short-term gains, on-chain signals suggest an impending correction.
PEPE’s Meteoric Rise Post-Listing
PEPE’s price leapt from $0.000013 to $0.000022 following Coinbase’s announcement, coinciding with Robinhood’s decision to list the token. The exchange teased the move via a cryptic X post from Chief Legal Officer Paul Grewal:
“Soon you’ll get the frog. Coinbase is adding PEPE to our listing roadmap.”
The dual listings propelled trading volume to $53.14 trillion (worth $1.16 billion), as holders capitalized on the uptick.
Key Indicators Signal Overheating
- Profit-Taking Spike: $1.16 billion in realized profits hints at selling pressure.
- RSI in Overbought Zone: The Relative Strength Index (RSI) exceeding 70 suggests a pullback is likely.
👉 Why RSI matters for crypto traders
PEPE Price Prediction: Short-Term Pullback Expected
Downside Targets
- Immediate support at $0.000019 (23.6% Fibonacci level).
- Extended sell-off could push PEPE to $0.000015.
Upside Potential
Sustained buying pressure might drive PEPE toward $0.000026, though RSI cautions against unchecked optimism.
FAQ: PEPE Coinbase Listing
Q: Why did PEPE’s price surge after Coinbase’s listing?
A: Exchange listings boost liquidity and visibility, attracting speculative demand.
Q: How does profit-taking affect PEPE’s price?
A: Large-scale profit-booking increases sell pressure, often leading to price dips.
Q: Is PEPE a good long-term investment?
A: Meme coins are highly volatile. Always assess risk tolerance and market trends.
👉 Explore meme coin trading strategies
Market conditions are dynamic. Conduct independent research before investing.
### SEO Keywords
1. PEPE Coinbase listing
2. PEPE price surge
3. Meme coin profit-taking
4. RSI overbought
5. PEPE price prediction
6. Frog-themed crypto
7. PEPE trading volume