The long-awaited fourth Bitcoin (BTC) halving, which ushers in the parabolic rally of the crypto bull cycle, will happen next weekend. On-chain data shows more investors are entering the cryptocurrency industry led by Bitcoin which achieved over 370k new non-zero addresses in the past week.
As a result, it is safe to assume the meme coin season is around the corner led by dog-themed coins, frog-themed, cat-themed, and Solana-based mems.
Pepe Networks Thrives
After an initial glitch between the Pepe developers that affected the meme coin’s liquidity, the Pepe (PEPE) network has continued to grow in recent months. According to the latest market data, Pepe has a fully diluted valuation of around $3 billion and a daily traded volume of about $712 million.
With more than 200k non-zero holders, the Pepe network has attracted the attention of major cryptocurrency exchanges led by Binance and Coinbase Global. On Thursday, Coinbase International announced that it will add support for Pepe perpetual futures dubbed 1000PEPE-PERP by April 18, 2024.
Midterm Pepe Price Expectations
After an impressive first quarter of 2024, Pepe’s price has been consolidating in a triangular pattern on the daily time frame. Having rallied to a fresh all-time high (ATH) and entered the price discovery phase, Pepe’s price is expected to rally further in the coming months.
According to a popular crypto analyst Ali Martinez, Pepe’s price is on the cusp of a 50 percent growth in the near future if the buyers defend the bullish momentum. Notably, Martinez highlighted that Pepe’s price has been forming a triangular pattern that could result in a bullish breakout.
However, the crypto analyst noted that Pepe’s price must close above the range between $0.00000793 and $0.00000664 to ensure bullish momentum.
