Summary
TLDR: The cryptocurrency market is relatively calm, with Bitcoin and Ethereum up less than 3%. However, PEPE, a popular meme coin, has seen a 16% spike in the last 24 hours and is defying market trends. This surge is attributed to Coinbase listing PEPE perpetual contracts, increasing liquidity and exposure for the asset. Technical indicators suggest PEPE may be bouncing back to a bullish trend.
Key Points
1. The global crypto market cap is currently at $2.56 trillion, with a 2.7% change in the last 24 hours according to CoinGecko.
2. PEPE, an Ethereum-based meme coin, has seen a 16% spike in its price in the last 24 hours, going from $0.00000572 to $0.00000666. It has also experienced a 30% jump in the last seven days.
3. Coinbase International announced the listing of PEPE perpetual contracts, which has contributed to the price surge. The technical indicators for PEPE suggest a potential recovery and a return to a bullish trend, with the EMA10 on track to surpass the EMA55 mark.