PEPE, the Ethereum-based meme cryptocurrency inspired by the renowned Pepe the Frog figure, has been listed on Bitstamp, a prominent cryptocurrency market.
Bitstamp, founded in 2011, is one of the most established and regulated centralised crypto exchanges (CEXs), with over four million clients in over 100 countries.
Instead of celebrating this achievement, the PEPE price responded surprisingly, falling before recovering to trade up 1.59% in the previous 24 hours to $0.000001114.
Bitstamp lists Pepe
On February 13, Bitstamp announced the addition of PEPE on its platform, along with LMWR and BLUR.
PEPE’s listing on Bitstamp is essential for the meme currency since it provides additional liquidity and exposure.
However, contrary to predictions, PEPE’s Bitstamp listing did not generate a substantial market reaction. This was unexpected and puzzling because it contrasted the usual trend of price increases following a major exchange listing.
PEPE is failing to break over the $0.00000114 resistance level following a rally that began on Monday. Notably, PEPE has been on a modest recovery since February 5, when it found support at $0.00000087.
https://x.com/Bitstamp/status/1757381242134090061?s=20
Following its most recent advance, the PEPE price hit resistance around $0.00000114, which corresponded with the 50-day moving average (MA), a key indication of long-term trends. The price failed to close above this level, therefore the sellers took their profits.
The bulls are presently making another push at this level, with PEPE reaching an intraday high of $0.00000112 as of press time.
