Pepe Price Surges to 2-Month High After Bounce from Support
Pepe (PEPE) holders have had an excellent week, with the token’s price increasing by 93% since last Thursday. The price of Pepe Coin is currently around $0.0000012, the highest it has been since August 16. This surge came after PEPE bounced back from support at around $0.000000625 on October 19. In the past six days, PEPE has closed in the green for five of them and easily surpassed its 50-day Exponential Moving Average (EMA).
PEPE is now the second most-traded meme coin globally, with spot trading volumes increasing by over 80% and reaching $494 million per day. It has even topped CoinMarketCap’s list of trending cryptocurrencies. This remarkable turnaround surprises investors who thought that PEPE was “dead.”
PEPE Faces Uphill Battle to Sustain Enormous Price Rally
Now that PEPE’s price has surged unexpectedly, holders are wondering how high it can go. From a technical standpoint, the next major resistance zone is around $0.00000145, which represents a further 19% increase from the current price. If PEPE can close above this zone with a bullish daily candle, there is a clear path back to July’s highs.
In addition to the price rally, PEPE’s developers conducted a significant token burn recently, reducing the circulating supply by 1.6%. This reduction could put more upward pressure on the price if demand remains constant. However, as with any meme coin, PEPE still carries risks such as investor hype being short-lived and a lack of long-term utility.
Could Meme Kombat be the Next Token to Pump? Presale Rides Viral Hype & Raises $730,000 Ahead of DEX Listings
Meme Kombat (MK) is another meme coin that has been gaining attention. Meme Kombat combines meme coins and Play-to-Earn (P2E) gaming, offering a unique experience where users can gamble MK tokens on AI-powered battles between popular meme coin mascots. Winners receive large payouts, and MK holders can earn 112% APY by pledging their tokens to the staking pool.
The ongoing presale for Meme Kombat has already raised over $730,000. Early investors can purchase MK tokens for just $0.1667 during this presale, but the price is only available for another seven days. Meme Kombat stands out from other meme coins due to its fully doxxed team and leadership by Matt Whiteman, who has extensive experience in the Web3 space. The project’s smart contracts have also been audited by Coinsult.
Many early investors are backing Meme Kombat to see a 10x increase once it is listed on exchanges later this year.
Hot Take: Pepe and Meme Kombat Lead the Meme Coin Surge
The rise of Pepe (PEPE) and the emergence of Meme Kombat (MK) highlight the ongoing surge in meme coins. Pepe Coin’s recent price rally has defied expectations and surprised investors who had written off the coin as “dead.” With its impressive rebound and increased trading volumes, PEPE continues to gain momentum.
Meanwhile, Meme Kombat offers a unique concept that combines meme coins with Play-to-Earn gaming, attracting significant attention during its presale phase. Backed by a doxxed team and led by an experienced individual in the Web3 space, Meme Kombat has raised over $730,000 and is expected to see significant growth once listed on exchanges.
The meme coin sector remains volatile, with risks such as short-lived hype and a lack of long-term utility. However, the success of Pepe and the potential of Meme Kombat demonstrate the continued interest and potential for growth in this market.
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