AERO crypto price held steady on Friday even as the crypto market crash accelerated, with total 24-hour liquidations soaring to over $1.2 billion. Aerodrome Finance’s token jumped to a high of $0.7253 on Friday, up by 52% from its lowest point this month.
Why AERO Price Surged
AERO is the native token for Aerodrome Finance, the biggest decentralized exchange on the Base Blockchain.
It jumped for two main reasons. First, the network crossed the $100 billion in transaction volume this year. This makes it one of the fastest-growing players in the decentralized exchange (DEX) industry. Its volume on Base is significantly higher than that of other platforms, such as Uniswap and PancakeSwap.
Aerodrome Finance’s volume has jumped by over 10X YoY since it handled about $9 billion in volume at the same point last year.
Second, AERO price jumped after Coinbase announced that it would incorporate DEX networks on its platform, in what one analyst called a watershed moment for the entire onchain economy.
Integrating Aerodrome Finance on Coinbase will expose it to millions of the company’s users. This integration comes a few months after Coinbase integrated Morpho on its platform. To date, over $561 million worth of Bitcoin has been collateralized for USDC, a figure that continues to grow.
Aerodrome Finance Token Price Analysis
The daily chart shows that the AERO price bottomed at $0.2850 in April and then bounced back to a high of $0.7140. It has moved above the 50-day Exponential Moving Average (EMA), a sign that bulls are in control.
Aerodrome token has also formed an ascending triangle pattern, a popular bullish continuation sign whose upper side is at $0.7786, which coincides with the 23.6% Fibonacci Retracement level.
Therefore, the AERO token price will likely continue rising as bulls target the key resistance level at $1.3058, the 50% retracement level. This target is about 86% above the current level. A drop below the ascending trendline will invalidate the bullish view.
Bitcoin Pepe is the Next Big Thing
Meanwhile, Bitcoin Pepe, a token currently in its presale, could be the next big thing in the crypto industry after going viral. It has already raised more than $14 million from investors who believe in its mission.
Bitcoin Pepe’s goal is to disrupt the meme coin industry by making it possible for developers to launch meme coins on the Bitcoin network. It will achieve this with its PEP-20 standard.
Evidence suggests that Bitcoin meme coins are likely to be highly successful. For example, data shows that layer-2 Bitcoin chains, such as Core and Stacks, have attracted millions of dollars in assets. Similarly, Bitcoin staking platforms like Lombard Finance and Solv Protocol have over $9 billion in assets.
Bitcoin Ordinals were also highly successful NFT collections. Therefore, Bitcoin Pepe may also achieve similar success as it disrupts Solana, the biggest player in the meme coin industry.
Bitcoin Pepe’s next major catalyst will occur on June 17, when the developers are expected to announce the token listing date. Hurry up and buy Bitcoin Pepe here.
