Pepe Price Prediction: PEPE Soars To New All-Time High After 61% Pump As This New Solana Meme Coin Soars 121% In A Month – New Bonk?

Blockchain
0

Join Our Telegram channel to stay up to date on breaking news coverage

The Pepe price exploded 61% to trade for $0.00000662 as of 1:40 a.m. EST time, with trading volume rising 110%.

Meme coins are on a tear, a trend catalyzed by the prevailing optimism in the Bitcoin (BTC) market. The sector tokens tend to get their cues from BTC, with strength begetting strength, and it’s enabled PEPE to soar to a new ATH.

Standing as the biggest gainer in the meme coin category, Pepe is leading the sector with its peers following close behind. Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK) are also on a tear, up 20%, 26%, and 45% respectively. Floki Inu (FLOKI) is up 25%, with Dogwifhat (WIF) being the only outlier with a 2% decline.

The drop in the WIF price is likely associated with a whale booking profits at the highest price, for 750,000 Solana (SOL) tokens. This is according to a recent report by Lookonchain, a blockchain researcher and data provider.

With meme coins rallying, the sector’s market capitalization is also mooning, up 20% in the last day to $20.7 billion, CoinMarketCap data shows. The sector has even managed to surpass emerging sectors like DeFi and exchange cohorts.

Pepe Price Outlook As PEPE Leads Meme Coins As The Biggest Gainer

The Pepe price is way above its May 5, 2023 peak of $0.00000439, and recorded an all-time high of $0.00000679 during the Monday intra-day high. It remains well above the midpoint of the market range, with prospects for more gains. This is because all technical indicators flash bullish as of publishing time.

For starters, the Relative Strength Index (RSI) suggests steadily rising momentum despite PEPE being massively overbought. This is seen with the RSI position at 91. Nevertheless, Well Wilder advises that an asset is only ripe for selling once the RSI crosses below 70.

As such, traders with open positions for the Pepe price should consider leaving them open, but those looking to open new positions should probably exercise caution as the market is in high risk of a correction.

Nevertheless, the bulls maintain a strong presence in the PEPE market, as seen by the large volumes of green histogram bars on the Awesome Oscillator (AO) as well as the Moving Average Convergence Divergence (MACD). The position of the MACD well above its signal line suggests a strengthening bullish cycle. Increased buying pressure could see the Pepe price shatter the $0.00000679 peak to create a higher high. In a highly bullish case, the frog-themed token could tag the $0.00000800 psychological level, nearly 20% above current levels.

TradingView: PEPE/USDT 1-day chart

Converse Case

Conversely, if profit-taking ensues, the Pepe price could shed its gains, potentially retesting the $0.00000439 level.

Meanwhile, consider Smog, a Solana-based meme coin that is up 121% in a month. Amid considerations that this could be the next BONK, this meme coin promises the mother of all airdrops while experts say it could 1000X in 2024.

Some analysts rank Smog among the best meme coins to invest in with potential for exponential gains, while others say it is one of the best penny crypto investments.

Promising Alternative To PEPE

Smog token has rapidly gained popularity as analysts predict it’s set to outperform Solana meme coin titans including BONK, MYRO, and WIF. “One meme coin to rule them all” is its slogan.

Smog has garnered significant attention within the meme coin community following its fair launch on Jupiter DEX on February 7.

Smog set out to revolutionize the meme coin arena with its ambitious and rewarding airdrop initiative, touted as the ‘greatest airdrop of all time.’

This initiative involves the distribution of a significant 490 million tokens to $SMOG holders, marking it as one of the largest airdrops on Solana‘s platform.

Smog Zealy Campaign

There is also a Zealy campaign available for users to further increase their airdrop points by completing tasks such as following Smog on X and engaging with its social media posts.

The enthusiasm surrounding the Zealy campaign has escalated following the announcement that over 800,000 quests have been completed, as users strive to amass as many airdrop points as possible.

Smog has also expanded to multiple chains through a Wormhole bridge, allowing Ethereum users to benefit from its upward movement.

$SMOG tokens are now accessible on both chains, with the project’s website offering a 10% discount for token purchases. Alternatively, tokens can be acquired on Jupiter DEX using $SOL.

Visit and buy Smog here.

Also Read:

New Crypto Mining Platform – Bitcoin Minetrix

Bitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now – BTCMTX
  • Staking Rewards – Over 50% APY

Bitcoin Minetrix


Join Our Telegram channel to stay up to date on breaking news coverage


Credit: Source link

You might also like More from author
Leave A Reply

Your email address will not be published.