Meme coins boosted by CPI data and new listings

Meme coins are witnessing a new wave of interest, driven by two main factors outlined by crypto analyst Miles Deutscher.

Recent stability in Consumer Price Index (CPI) data and the re-listing of PEPE (CRYPTO:PEPE) on platforms like Robinhood and Coinbase have created an environment ripe for growth.

"With CPI out of the way, we’re seeing investors take on more risk, which bodes well for meme coins’ popularity," Deutscher explained.

The latest CPI report indicated a stable inflation rate of 2.6%, which matched market expectations and brought relief to investors.

This stability has encouraged the return to higher-risk assets, similar to the patterns observed in 2021 when Dogecoin (CRYPTO:DOGE) and other meme coins surged.

"CPI is higher, as inflation rises to 2.6%. First, the initial response is the Yields are falling and Bitcoin rallies upwards," commented analyst Michael Van de Poppe.

The resulting market confidence has benefited meme coins, drawing renewed attention from retail investors.

"Dear diary, today we listed PEPE on Robinhood," announced Robinhood, marking a significant moment for meme coin accessibility.

This decision follows a period when regulatory pressures led to the delisting of certain tokens, including PEPE, after the US Securities and Exchange Commission (SEC) classified them as securities.

The re-listing, soon mirrored by Coinbase adding PEPE to its roadmap, signals a shift in the regulatory environment.

"PEPE getting listed on Robinhood and Coinbase gives me the same SHIB vibes from 2021," said analyst Zack Humphries, alluding to potential rallies reminiscent of past market trends.

Deutscher believes that the combination of CPI stability and increased access to meme coins on major platforms positions these tokens for continued growth.

This dual catalyst could maintain the momentum, attracting both retail and speculative investment and supporting meme coin dominance in the market.