Coinbase News: PEPE Coin Shows Signs of Deep Undervaluation and Potential Accumulation Zone, Under Evaluation by Coinbase

Cryptocurrency investors are keeping a close eye on PEPE Coin as it displays several indicators of potential future growth. Here’s a closer look at the latest developments surrounding this digital asset.

PEPE Coin MVRV Z-Score Hits Historic Lows, Indicates Potential Accumulation Zone

The MVRV Z-Score of PEPE coin has reached historic lows, indicating deep undervaluation. Investors currently hold Pepe at a loss, and periods of low MVRV Z-Score values typically signal a phase of accumulation, which could lead to price growth. Additionally, the PEPE/ETH trading pair shows an RSI divergence pattern, historically indicating major market reversals. Furthermore, Pepe is being evaluated by Coinbase for inclusion in their COIN50 Index, which will enhance its exposure to investors.

REZ Crypto Rallies 60% Following Coinbase Listing

Renzo (REZ) crypto surged by as high as 60% after being listed on Coinbase. According to data from CoinGecko, REZ rallied to an intraday high of $0.032, over 145% higher than its lowest point this year. The altcoin’s market cap was seated at $63 million, while its daily trading volume more than doubled over the previous day at nearly $281 million. REZ’s gains were accompanied by a surge in demand from derivatives traders, with open interest in its futures market jumping 92% to an all-time high of $42 million. However, weighted funding rates have fallen further into negative territory as most traders seem to bet on a potential short-term price drop.