Price: $0.39490 4.7588%
Market Cap: 58.01B 1.7641%
Volume (24h): 8.7B 0.4%
Dominance: 1.7641%
Price: $0.39490 4.7588%
Market Cap: 58.01B 1.7641%
Volume (24h): 8.7B 0.4%
Dominance: 1.7641% 1.7641%
  • Price: $0.39490 4.7588%
  • Market Cap: 58.01B 1.7641%
  • Volume (24h): 8.7B 0.4%
  • Dominance: 1.7641% 1.7641%
  • Price: $0.39490 4.7588%
Home > Information news > PEPE Price Suggests Change: What’s Next for Memecoin

PEPE Price Suggests Change: What’s Next for Memecoin

Release: 2024/03/25 16:55 Reading: 472

Original author:CryptosHeadlines.com

Original source:https://coinmarketcap.com/community/en/articles/65feabf14a8f4a3ed32404de

Meme coins have experienced notable growth, with a market capitalization of $52 billion and a daily trading volume exceeding $10.6 billion. Despite the rise of Solana-based meme coins, Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) continue to dominate the market.

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

At present, PEPE, the frog-themed meme coin, boasts a fully diluted valuation (FDV) of approximately $3.08 billion and an average daily trading volume of about $1 billion. With approximately 190,000 holders, Pepe coin has solidified its dominance in the meme coin realm. Additionally, it holds liquidity in Wrapped Ethereum (WETH) valued at nearly $50 million.

PEPE Price Analysis: Signs of Mid-Term Correction

After a remarkable 700 percent surge over the past four weeks, the PEPE price against the U.S. dollar has encountered a notable resistance range between $0.0000087 and $0.0000117. Despite the prevailing bullish sentiment, early indications of a mid-term correction have emerged.

On the daily time frame, the meme coin has formed a double top pattern and a descending divergence on the Relative Strength Index (RSI).

If the PEPE price falls below the support level near $0.0000061 in the upcoming days, it could trigger a substantial decline towards the next liquidity level around $0.0000049, aligning with the 0.618 daily Auto Fibonacci Retracement.

However, the short-term bearish sentiment would be negated if PEPE bulls consistently achieve closures above the recent all-time high (ATH).

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

Fantom (FTM) Sparks Crypto Cash Rotation

The recent surge in Fantom (FTM) suggests a noticeable shift in crypto cash rotation, particularly from meme coins to mid-cap altcoins. This movement indicates a changing market dynamic as investors seek new opportunities beyond meme coins.

Also Read: Shiba Inu (SHIB) Drops from Top 10; But Optimism Persists

Profit-Taking in Meme Coins

The ongoing profit-taking in the meme coin sector hints at an imminent market reversal. As investors capitalize on the recent gains from meme coins, it sets the stage for potential buying opportunities in other segments of the cryptocurrency market.

Anticipation of Bitcoin Halving

Furthermore, anticipation surrounding the upcoming Bitcoin halving event is expected to catalyze a highly anticipated parabolic rally. This event, which occurs approximately every four years, has historically triggered significant price surges in the cryptocurrency market. Investors are closely monitoring developments in anticipation of potential market movements following the halving.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.