Robinhood Adds Pepe Coin to Crypto Transfers, Will It Mirror Dogecoin 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 similar to Dogecoin.

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. Will it mimic the Dogecoin recent rally – time will tell.

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.

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 Simulate Dogecoin Price 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.

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

DOGE, on the other hand, is hovering around the $0.15 level, a crucial support level that may inspire further rallying toward $0.20 if the bulls have their way. This is not an isolated case but rather part of an altcoin-wide trend as the crypto market finally seems to be getting its footing.

Recently, Italian crypto-analyst Eliz has given a guardedly optimistic assessment on Twitter. He said, “Most of the major altcoins could be setting up for a temporary bottom after a pretty turbulent period.”

According to him, this bottom formation may set a pattern indicating that altcoins enter their recuperative phase, and for the market in general, the week ahead is great.

While he expects better prospects, he also said investors should be wary because volatility may be there.

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 EU trade over 20  digital currencies, including leading crypto like Bitcoin, Ethereum but also memecoins like PEPE or Dogecoin.

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.