The price of Pepe Coin has surged dramatically, with a bullish trend indicated by a rounding bottom pattern and a potential 52% increase in the upcoming weeks, possibly elevating the price to $0.000008322. However, a minor pullback may occur as the Relative Strength Indicator shows the coin is poised for a temporary dip. The meme coin's daily trading volume is at $1.58 billion, reflecting a rise in demand, and the exponential moving average signals aggressive buyer behavior.
Shiba Inu (SHIB) experienced a 12% decline in the last 24 hours, underperforming Dogecoin and Pepe Coin. This drop followed the launch of the Shibarium Ethereum layer 2 solution, which encountered technical difficulties with its bridge, hindering users' access to transferred tokens. Bitcoin also saw a significant plunge due to rising global government bond yields and news of China's Evergrande Group filing for bankruptcy protection. SHIB is currently trading at $0.000008368.
Pepe Coin (PEPE) has become the second-most traded meme token in the world, with a 24-hour trading volume of $212 million. Despite a recent drop in price, PEPE's high trading volume suggests that it may see further rallies in the future, particularly if it gains more exchange listings. However, some traders may prefer to look at newer meme tokens like SpongeBob (SPONGE), which has enjoyed gains of over 2,000% since listing on Uniswap on May 4 and has recently celebrated listings on several exchanges. SPONGE has a smaller supply than many other meme coins and could potentially rise to $0.0006 and $0.0007 in the next few weeks with more exchange listings.
Pepe Coin's price has fallen by 13.5% in the past 24 hours, but it remains up by over 200% in the past week and by more than 600% in the past fortnight, with the altcoin also gaining by over 4,000% compared to the lowest price recorded by CoinGecko. Its 24-hour trading volume remains vastly elevated compared to where it was even a few days, at $750 million. The arrival of Pepe Coin comes amid a wave of other similar meme tokens, including SpongeBob, which has gained by well over 5,000% since directly listing on Uniswap on May 4.
Meme coins have gained popularity in the cryptocurrency world, with some experiencing substantial growth and returns. GigaChad, Pepe Coin, Dogecoin, Floki Inu, and Wojak are among the best meme coins to buy now. GigaChad has a low market cap and potential for significant growth, while Pepe Coin has an established presence in the market. Dogecoin's success can be attributed to Elon Musk's support, and Shiba Inu aims to become a "Dogecoin killer." Wojak has gained attention despite having no specific utility. As with any investment, caution and thorough research are necessary when investing in meme coins.
Americans are leading the memecoin craze, with India and the United Kingdom following closely behind, according to a study by CoinGecko. Shiba Inu is the most popular memecoin in the US, while Indians are most interested in Shiba Inu and Baby Doge Coin. The UK ranks third in global interest in memecoins, but CoinGecko did not specify which assets are most desirable for Britons. Despite losing its leading position in numerous countries, Dogecoin remains a fundamental member of the pack and has risen 11% YTD.
Pepe Coin's rally continues despite Binance postponing its listing due to technical difficulties. The meme coin has outperformed Shiba Inu, Dogecoin, and FLOKI, securing the third spot in the meme coin rankings with a market capitalization of $1.2 billion. Meanwhile, SPONGE, a new ERC-20 meme coin, has gained attention with a market cap of slightly below $18 million and a fully diluted valuation exceeding $20 million. AiDoge, a decentralized meme initiative utilizing state-of-the-art generative technology, has raised $2 million in its presale and is attracting investors looking to outperform Pepe Coin, SPONGE, SHIB, and DOGE combined.
Pepe Coin, a frog-themed cryptocurrency, has surged by 1,500% in just two weeks, surpassing the billion-dollar milestone and securing a spot among the top 50 coins by market cap. Its recent surge can be partly attributed to Binance's decision to list it on its "innovation zone" platform. However, Binance also issued a warning to potential investors, noting that Pepe had no underlying value support mechanism. The rise of Pepe and other meme tokens highlights the unpredictable nature of cryptocurrency markets, and the fact that even well-established coins are not immune to volatility.
Shorters betting against Pepe Coin (PEPE) have lost at least $11 million in the past 24 hours as the token's valuation jumped to $900 million. The warnings of an impending collapse due to the number of whales who purchased PEPE in mid-April did not come to fruition, and the token has gained 500% in the past two weeks. Funding rates in perpetual futures tied to the token remain negative, indicating the dominance of bearish positions in the derivatives market.
