Cryptocurrency exchange giant Binance has once again captured significant attention from investors across the Middle East and North Africa, announcing important updates for Pepe Coin. The cryptocurrency exchange revealed on Friday that it is adding new trading pairs for PEPE, expanding market support for the frog-themed meme token. In response, traders and investors are widely focusing on meme cryptocurrencies, expecting prices to rise with a broader market recovery.
Binance enhances trading services for Pepe Coin, reflecting optimism.
According to the official announcement released by Binance on January 17, the cryptocurrency exchange's P2P division is increasing support for Pepe Coin. Notably, PEPE is now supported for exchange with fiat currencies in the Middle East and North Africa (MENA) region, the announcement added.
The platform's large user base can directly buy and sell the token in the new trading pairs in the MENA region. This enhanced product provides more market exposure for the asset, paving a bullish path for future trends as demand is expected to rise. Therefore, market observers anticipate that as one of the top cryptocurrency exchanges expands support for meme tokens, market support for meme tokens will strengthen.
At the same time, it is worth noting that the recovery trends in the broader cryptocurrency market have increased optimism surrounding the frog-themed meme coin.
Although CoinGape's report indicates that a savvy whale deposited 588 billion PEPE, investors remain optimistic about the cryptocurrency given the updates mentioned above. Moreover, numerous other market technical indicators pave a bullish path for the token's future trends.
Is PEPE ready for massive gains?
As of the time of writing this article, PEPE's price has risen nearly 1%, currently at $0.00001857. The token's 24-hour low and high prices are $0.00001798 and $0.00001886, respectively. The weekly chart of this cryptocurrency shows its value has increased by 7.5%. This upward trend, following Binance's announcement, has ignited significant enthusiasm among investors.
Interestingly, well-known market expert and BecauseBitcoin CEO Max recently posted on X, highlighting the bullish trend of Pepe Coin. The analyst focused on the Coinbase chart for the token, emphasizing the formation of significant bullish compression, indicating a bullish breakout is likely in the future. However, given that the second-largest cryptocurrency is unlikely to crash, this bullish expectation should also align with Ethereum (ETH).
Additionally, CoinGape's recent predictions for PEPE's price further solidify sentiments that the token will rise further, with the potential to surpass Shiba Inu. Against a backdrop of strong market technicals, Pepe Coin shows potential for a rebound, retesting its 2024 high of $0.00002826, a 52% increase from current levels. Investors are weighing at the aforementioned key point, expecting more gains in the future. Overall, market observers continuously monitor the price trend changes of meme tokens amid dynamic market trends and the Binance listing.
