Coinbase Launches PEPE Perpetual Futures, Expanding Trading Options: Price Impact

Coinbase International Exchange is set to broaden its trading portfolio by introducing support for PEPE perpetual futures.

The exchange confirmed that the 1000PEPE-PERP market is slated to open on April 23, 2024.

Coinbase Deepens Market Variety with Addition of PEPE Perpetual Futures

Coinbase Advanced will also mirror this move, offering seasoned traders enhanced financial instruments within the dynamic cryptocurrency marketplace.

Adding PEPE perpetual futures to Coinbase’s offerings marks a significant expansion of its derivatives market, providing traders with more strategies to hedge and leverage in a highly liquid environment. This development reaffirms Coinbase’s commitment to diversifying its financial products and catering to the sophisticated demands of its global user base.

PEPE Price Analysis: Notable Recovery Signals Bullish Momentum

The PEPE price has exhibited a spirited recovery, showcasing a 14.42% increase as the price climbed to $0.000007 in recent trading. Most notably, PEPE remains the only memecoin in the top 10 to see gains over the past 24 hours.

PEPE has seen an impressive 33.8% price increase over the last week, reclaiming third place from Dogwifhat (WIF)

Top 10 Memecoins by Market Cap. Source: Coingecko

This price increase overcame key resistance levels, signaling bullish momentum within the asset’s trading pattern. The technical analysis, denoted by the candlestick chart, reflects strong buying pressure. Conversely evidenced by the succession of green candlesticks on the daily chart.

Read More: Pepe (PEPE) Price Prediction 2024/2025/2030

Further reinforcing the bullish trend, the Relative Strength Index (RSI) ascends towards the midpoint of 50. However, it remains under the overbought threshold, indicating that there may be more room for growth before the market becomes saturated.

PEPE/USDT Price Chart. Source: Tradingview

Meanwhile, the Moving Average Convergence Divergence (MACD) depicts a positive crossover and rising histogram bars, suggesting a strengthening upward trend. Additionally, PEPE will seek to reclaim $0.00000740, which intersects with the 0.5 Fibonacci level. If the price can reclaim this level as support, it could then look to push towards $0.000008 next and potentially push for a new monthly high.

Consequently, investors are closely monitoring PEPE as its market performance defies recent consolidation trends.

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