Memecoins

Why is the Pepe meme piece rallying? What is the next step after the PEPE ATH?

Published

6 months ago

26 May, 2024

TokenTalk Staff

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Pepe price reached an ATH of $0.0000147 on May 23 after a 65% gain over the past three days.
Investors have two accumulation levels at $0.0000118 and $0.0000102 before the next step.
On-chain metrics show a spike in investor interest without major signs of selling pressure.

Pepe (PEPE) price is showing signs of continuing its uptrend, but this could come after a correction. This short-term decline could be used by marginalized buyers to accumulate PEPE for the next rise.

Read also : Is the crypto bull on the run?

Why is Pepe optimistic?

The Pepe price consolidated for 66 days between March 14 and May 19, increasing orders. On May 20, the frog-themed meme coin broke the $0.0000058 to $0.0000108 range on the upside and began its 65% rally, which reached a new all-time high (ATH) of $0.0000147, where it is currently trading.

The catalyst for this impulsive price movement of Pepe can be attributed to the uptrend surrounding Ethereum Spot approval of Exchanged Traded Funds (ETFs). Since PEPE is an ERC-20 meme coin, the ETH-based system news played a pivotal role in propelling the play even higher.

Learn more: As Ethereum Spot ETF Approval Nears, These Altcoins Could Explode

PEPE purchase opportunity

After Pepe price broke the $0.0000108 level, it surged 65%, and this momentum is likely realized, at least in the short term. Going forward, investors can expect one of two scenarios to play out.

Mean Reversion: A 16% correction that pushes Pepe price down to $0.0000118, the midpoint of the 65% move. This is the first level of accumulation.

Prolonged Profit Taking: If the selling pressure is too strong, PEPE could very likely break $0.0000108, the upper limit of the aforementioned range and revisit the imbalance, extending from $0.0000108 to $0.00000959 . This move would constitute a drop of almost 25% from the current level and is another level of accumulation.

Investors could choose to leave bids close to both levels and capitalize on the next leg of the uptrend.

PEPE/USDT 1-day chart

Why is this ETH-based meme likely to rally further?

According to Santiment, 24-hour active addresses, wallets interacting with the Pepe blockchain, increased from 3,600 to 12,000 between May 21 and 22. This sudden increase is similar to the rise in active addresses in mid-May, when PEPE shot up 36%.

This metric shows that investors are interested in Pepe at current price levels.

PEPE active addresses 24 hours a day

Furthermore, the 30-day market value to realized value (MVRV) shows 39%, which suggests that the average profit of investors who purchased PEPE in the last month is 39%. A higher MVRV means investors have unrealized profits and is considered a potential sell signal. In addition to this, past history must be taken into account to obtain accurate results.

Over the past year, many Pepe price reversals have occurred around 39%, but February’s rally pushed PEPE’s local high from nearly 40% to 119%. During bullish periods, investors are much more confident and are less likely to sell, which is why MVRV reaches higher numbers before the market reverses.

With this in mind, investors can rest assured that Pepe’s price is unlikely to form a local top here.

PEPE MVRV 30 days

Although Pepe price looks comfortable after its impulsive 65% move, the uptrend could unravel if the Ethereum spot ETF is delayed or not approved. A breakout of the $0.0000108 level would be the first sign of a downtrend. outlook.

If Pepe price produces a decisive daily candlestick closing below $0.00000887, it would create a lower low and invalidate the bullish thesis. Such a development could see PEPE fall to $0.00000835, a key support level.

Pepe price reached an ATH of $0.0000147 on May 23 after a 65% gain over the past three days.
Investors have two accumulation levels at $0.0000118 and $0.0000102 before the next step.
On-chain metrics show a spike in investor interest without major signs of selling pressure.

Read also : Is the crypto bull on the run?

Why is Pepe optimistic?

Learn more: As Ethereum Spot ETF Approval Nears, These Altcoins Could Explode

PEPE purchase opportunity

After Pepe price broke the $0.0000108 level, it surged 65%, and this momentum is likely realized, at least in the short term. Going forward, investors can expect one of two scenarios to play out.

Mean Reversion: A 16% correction that pushes Pepe price down to $0.0000118, the midpoint of the 65% move. This is the first level of accumulation.

Investors could choose to leave bids close to both levels and capitalize on the next leg of the uptrend.

PEPE/USDT 1-day chart

Why is this ETH-based meme likely to rally further?

This metric shows that investors are interested in Pepe at current price levels.

PEPE active addresses 24 hours a day

With this in mind, investors can rest assured that Pepe’s price is unlikely to form a local top here.

PEPE MVRV 30 days

Fuente

Related Topics:cryptocurrencies PEPE Technical analysis

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TokenTalk Staff

We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Memecoins

Memecoins dominate major derivatives in terms of open interest | Flash News Detail

Published

3 months ago

1 August, 2024

TokenTalk Staff

Bitcoin Dominance May Have Peaked, Ethereum ETF Could Trigger Altcoin Momentum

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

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Memecoins

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings

Published

3 months ago

1 August, 2024

TokenTalk Staff

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don't miss the winnings

August offers investors a unique opportunity to capitalize on the potential gains offered by Shiba Inu (SHIB) and Mpeppe (MPEPE)These two memecoins take advantage of the viral nature of internet memes and popular culture, attracting a diverse and enthusiastic audience. In this article, we’ll look at why Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for gains this month and why you shouldn’t miss out on the potential profits.

The viral power of memecoins

Memecoins have the inherent ability to leverage the viral nature of internet memes and popular culture references. This can lead to rapid spread of the cryptocurrency’s brand and message across various online platforms, potentially appealing to a broader and more diverse audience. Shiba Inu (SHIB) and Mpeppe (MPEPE) are great examples of how this viral potential can translate into substantial community growth and market presence.

Shiba Inu: riding the wave of popularity

Shiba Inu (SHIB) has established itself as a major player in the memecoin space. With its cute canine mascot and strong community support, Shiba Inu (SHIB) has gained a significant following. The coin’s ecosystem continues to grow, with projects like ShibaSwap adding to its utility and appeal. Investors are optimistic about Shiba Inu’s future, expecting it to ride the wave of popularity that has kept it in the spotlight.

Ecosystem expansion

THE Shiba Inu (SHIB) The Shiba Inu (SHIB) ecosystem is constantly expanding, offering new features and utilities that enhance its value proposition. Projects like ShibaSwap provide users with opportunities to stake and earn rewards, making Shiba Inu (SHIB) more than just a meme currency. This expansion helps solidify its market position and attract a wider audience.

Balancing humor and professionalism

Mpeppe (MPEPE) offers a unique and light-hearted approach to the serious world of digital assets, balancing humor and professionalism. Inspired by internet memes and the dynamic energy of football fans, Mpeppe (MPEPE) is quickly gaining traction in the crypto community.

Mpeppe (MPEPE) offers an opportunity to reach a younger demographic and tap into the viral nature of internet culture. By balancing humor and professionalism, Mpeppe (MPEPE) appeals to a wide audience, from casual meme enthusiasts to serious investors. This strategy is similar to the one that made Shiba Inu (SHIB) so successful, but with a modern twist.

Expanding Reach and Adoption

Mpeppe’s (MPEPE) ability to leverage internet culture means it has the potential to rapidly expand its reach and adoption. The memecoin’s branding and community-driven approach make it accessible and appealing, much like Shiba Inu (SHIB) in its early days.

Why August is the month to invest

As the cryptocurrency market experiences a surge in interest, August presents a great opportunity to invest in promising assets like Shiba Inu (SHIB) and Mpeppe (MPEPE) Both coins are well positioned to capitalize on the growing interest in memecoins, driven by their unique appeal and active communities.

Conclusion: Don’t miss the benefits

Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for a profitable August, leveraging their viral potential and strong community support to attract a diverse audience. With the cryptocurrency market in full swing, now is the perfect time to consider investing in these promising memecoins. Just as Shiba Inu (SHIB) captivated the crypto world with its unique appeal, Mpeppe (MPEPE) is poised to make its mark. Don’t miss out on the potential gains these innovative digital assets have to offer.

For more information on the Mpeppe presale (MPEPE):

Visit Mpeppe (MPEPE)

Join us and become a member of the community:

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

Fuente

Memecoins

Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further

Published

3 months ago

1 August, 2024

TokenTalk Staff

Solana climbs 4% on the back of rising Meme Coins and Alts

Solana, the fifth-largest crypto asset by market cap, has fallen 8% in the past 24 hours, according to CoinGeckolike his Meme Coin Market Prices of some coins, which can be notoriously volatile, have fallen by as much as 43% in the past day.

As the cryptocurrency market bleeds with Bitcoin (Bitcoin) down 2.7% and Ethereum (ETH) 4.2%, Solana (GROUND) was the hardest hit among the top 10 cryptocurrencies, falling 8.2% to $168 on the day, according to data from CoinGecko. Along with this, meme coin Solana suffered huge losses.

The biggest loser in the last 24 hours is the bigger of the two Black (NEIRO) on Solana which fell nearly 44% to $0.01821. These tokens were launched after the owner of Kabosuthe Shiba Inu that inspired the Doge meme, announced that she had adopted a new dog named Neiro. Interestingly, her rival on the network launched an hour beforealso called Black (NEIRO), is up 75.2%. It appears that the Solana Neiro Civil War is far from being decided.

Other big losers include: Pump.fun’s Favorites Billy (BOWL), down 26.4%, and Michi (MICHI), which fell 24.5%. Over the past 24 hours, both tokens have flipped their market caps multiple times, but dog token Billy is currently in the lead with $94 million, about $3 million ahead of Michi.

Dog with hat (Wireless), the largest meme coin on Solana, was also hit, dropping 12.4%. Bonk (BONK), the second-largest Solana meme coin, fell 9.1%. In fact, among the top 50 Solana meme coins by market cap, only four tokens are in the green, with Zoomer (ZOOM IN) leading the pack with 41.1%.

Meme coins are notoriously high-risk assets and tend to post disproportionate losses when the broader market experiences a downturn.

Brain (BRAIN), Michi (MICHI), Mini (MINI), Shark cat (SC), and many others, for example, have suffered greater losses in the last 24 hours than any of the top 100 cryptocurrencies by market capitalization.

In the world of meme coins, when it rains, it rains.

Edited by Stacy Elliott.

Fuente

Memecoins

Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD

Published

3 months ago

1 August, 2024

TokenTalk Staff

Trader Says Bitcoin's Path to $100,000 Is 'Currently Programmed', Updates Outlook on Memecoin That's Up Over 18,000% YTD

A widely followed analyst and trader expresses bullish sentiment on Bitcoin (Bitcoin) while offering his take on the memecoin built on Solana (GROUND) blockchain ecosystem.

Starting with Bitcoin, the analyst known by the pseudonym Altcoin Sherpa tell His 219,000 followers on social media platform X say Bitcoin is on the verge of hitting a six-figure price.

“There will be bumps along the way, but Bitcoin’s path to $100,000 is on schedule. Don’t get rattled or lost along the way.”

Source: Altcoin Sherpa/X

At the time of writing, Bitcoin is trading at $66,236.

According to For the widely followed trader, Bitcoin enjoys strong support between $63,800 and $65,000, where the 25, 55, 89 and 200 exponential moving averages (EMAs) on the daily chart have clustered.

Source: Altcoin Sherpa/X

Next up is the Solana-based memecoin Popcat (POPCAT). The pseudonymous trader and analyst said that among the cat memecoin family, POPCAT is one of the “best” in the long run.

Altcoin Sherpa, however, says POPCAT looks bearish on the short-term four-hour time frame and needs to climb above a range low between $0.694 and $0.724 to avoid falling further.

Source: Altcoin Sherpa/X

POPCAT was trading at $0.00379 on January 5th and is now at $0.704, a gain of approximately 18,475%.

Altcoin Sherpa also offers his take on dogwifhat (Wireless), Solana-based Memecoin. According to For the pseudonymous analyst, WIF “still looks pretty good for now” on the four-hour chart with the “best” support area sitting around $2.10.

“The average would probably be $2.30 to $2.10 if I were you and I was swing trading this one.”

Source: Altcoin Sherpa/X

WIF is trading at $2.27 at the time of writing.

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