Date: Thu, Nov 14, 2024, 04:55 AM GMT
The cryptocurrency market has witnessed a surge in the past 24 hours, catalyzed by Bitcoin’s (BTC) fresh all-time high of $91,434. This rally has fueled prices of major memecoins, including Ethereum-based Pepe (PEPE) and Solana-based Dogwifhat (WIF), which have both experienced substantial gains. PEPE surged by over 80%, reaching a new all-time high of $0.00002524 and approaching a market cap of $10 billion, while Dogwifhat (WIF) climbed by over 40%, currently trading at $4.11.
Big Listings Driving PEPE and WIF
A key driver of this rally is the recent wave of significant exchange listings for both Pepe (PEPE) and Dogwifhat (WIF). PEPE was listed on Upbit, Korea’s largest exchange, today, following listings on Robinhood and Coinbase yesterday. Dogwifhat (WIF) was also listed on Coinbase, shortly after PEPE.
What to Expect Ahead?
With the market reacting positively to recent listings, both PEPE and WIF have shown potential for further gains. Here’s a closer look at each token’s outlook:
Pepe (PEPE):
After breaking out of a descending triangle pattern on Nov 7 at $0.00001070, PEPE saw significant upward momentum following the listing news. PEPE not only surpassed its previous all-time high of $0.00001718 but also surged to a new peak of $0.00002524.
Currently trading at $0.00002357, PEPE is holding above a support level of $0.00002235. If this level holds, PEPE could continue its rally towards the upper trendline on the chart, potentially representing an additional 50% gain from its current price. In case of a pullback, PEPE might revisit its support level, with a possible reversal from there targeting similar upside.
Dogwifhat (WIF):
WIF has also shown strong momentum, breaking out on Nov 11 at $2.68. Following its listing news, WIF nearly touched its all-time high resistance level of $4.85 but faced a slight rejection, currently trading at $4.09. This price aligns with a critical support level.
If WIF holds this level, it could attempt another run at its all-time high. However, if it fails to maintain this support, the next support level to watch is $3.59, which could offer a foundation for a bounce.
Conclusion
The recent exchange listings have sparked strong bullish momentum for both PEPE and WIF, pushing PEPE to new all-time highs and positioning WIF near its peak. If they hold their current support levels, both tokens could see further gains in the short term, with PEPE potentially aiming for a 50% rise and WIF targeting its previous high. However, if these support levels falter, we may see retests of lower levels before any further upward movement.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.