Robinhood Crypto Announces Support For PEPE, Price To Rally?

Robinhood Crypto Europe has just announced support for the popular meme token, Pepe (PEPE), allowing users to withdraw and deposit the token seamlessly on its platform. For a limited time, customers can also earn a 1% deposit bonus when they transfer PEPE through the official app, adding extra incentive for enthusiasts of the meme-based cryptocurrency who  hope the PEPE price could rocket.

This update marks another step in the exchange’s broader strategy to enhance crypto accessibility. Recently, the company also unveiled new functionality for its European customers, enabling cross-border crypto transfers in and out of the app. These new features highlight it’s dedication to expanding its crypto services and providing a more robust experience for its global user base as it ramps up its international expansion efforts.

Robinhood Crypto Now Supports Deposits, Withdrawals of Popular Memecoin Pepe

Starting today, Robinhood Crypto has announced that users can deposit and withdraw the popular Pepe memecoin ($PEPE) and earn a 1% deposit bonus for a limited time.

Known as a “meme coin darling,” Pepe was first listed for trading on Robinhood Crypto EU on February 14, which triggered an immediate 15% price rally. This listing fueled optimism among analysts about Pepe’s long-term potential as interest in meme-based assets continues to grow.

$PEPE transfers are LIVE on Robinhood Crypto.

Withdraw + Deposit #PEPE, and get PEPE rewards with our 1% deposit bonus for a limited time.

Terms apply. Learn more: https://t.co/sb4gDoO6Ls#RobinhoodOnchain pic.twitter.com/05Pd8h7kNW

— Robinhood Crypto EU (@RobinhoodCrypto) November 4, 2024

Since the initial listing, PEPE has drawn attention for its volatile yet promising market activity. Analysts have been watching closely, suggesting that the exchange’s support could further boost its visibility and adoption.

As the platform expands its crypto offerings, this recent addition emphasizes its commitment to capturing the growing demand for meme coins in the crypto space, a trend that continues to gain momentum among traders and enthusiasts alike.

Will PEPE Rally?

Now that the US presidential election season is in high gear, crypto analysts are pointing out a bull case for Pepe coin. Recent Pepe coin prediction shows that it could surge as high as 1,400%. Crypto analyst Waleed.Eth looks at a similar wave pattern in the Pepe coin price action, which indicates the bull run from February to May 2024.

Waleed explained in detail how the preliminary allocation, made in mid-2023, set a level that analysts call “Wave 1,” described as a slow and gradual upward movement with the highs marked as Top 1 and Top 2.

Following the rally, Pepe has been in a corrective phase to cool off the bullish momentum before what some believe is an impending breakout.

The PEPE price briefly fell below the 200 Exponential Moving Average (EMA), something analysts believe was a “fake breakdown” aimed at shaking out some short-term holders and bringing in long-term investors. This now three-time pattern in eight months has nurtured expectations of an extended big rally. The third wave could drive Pepe coin to $0.000118, and if the forecast big rally were to come into play, its market cap would reach around $50 billion.

At the time of writing, the price of the popular memecoin hovered around $0.0000082672984, rising by 1.36%.

EU Customers to Gain More Control Over Their Crypto

On October 1, Robinhood announced a significant milestone for its European customers: Starting immediately, they can transfer cryptocurrencies in and out of its app to broaden product capabilities in the region as it grows globally. The move will see users in the European Union deposit and withdraw over 20  digital currencies, including leading assets like Bitcoin, Ethereum, Solana, and USD Coin.

Because of this update,  the exchange effectively offers a way for European customers to “self-custody” their assets and take full ownership of their crypto in a personal wallet rather than relying on third-party platforms for services.

The added support for transferring PEPE also signals an uptick in the renewed momentum of Robinhood Crypto amid the set of meme coins through incentivizing engagement with the platform. This may mark the beginning of a new chapter for the company, finally focusing on solid and user-oriented, now that the regulatory environment has been positively shaped.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.