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The Pepe price is up 76% in the last 30 days and almost 3% in the past 24 hours to trade for $0.00001485 as of 01:06 a.m. EST.
The frog-themed token features among the top three meme coins by market capitalization alongside Dogecoin (DOGE) and Shiba Inu (SHIB).
The current #memecoin market cap stands at $69 billion, with the top 3 being $DOGE, $SHIB, and $PEPE, accounting for $45 billion (65%) of the total market cap.
Do you think a new #memecoin will break into the top 3 by the end of this cycle? If so, which one? 🤔
— Crypto D (@CryptoDaryoush) June 6, 2024
With a $6.2 billion market capitalization at the time of writing, Ian on X predicts a $4 billion increase by June 22.
$PEPE 10B by June 22nd. Bookmark it. pic.twitter.com/CcZRtK8o7h
— ian (@slyamateur) June 6, 2024
Meanwhile, the cryptocurrency market is looking strong as the Bitcoin price continues to hold above the $70,000 threshold. Pointing to bullish sentiment in the market, the global meme coin valuation is $64.4 billion, down 1.7% in the past 24 hours.
Pepe Price Prediction
The Pepe price is trading with a bullish bias as it holds above the trendline (diagonal) of the Fibonacci indicator. It is also well above the 50% Fibonacci placeholder of $0.00001308. Based on the Relative Strength Index (RSI) outlook, the market favors the upside as this momentum indicator holds above the mean level of 50.
The volume profile also shows green nodes pronounced. This represents high trading activity and increased buying pressure in the last two days. It also suggests strong interest in PEPE at current price levels and therefore potential support in the event of a downtrend.
Notably, the position of the Moving Average Convergence Divergence (MACD) in positive territory is also bullish for the Pepe price. It typically indicates a bullish momentum in the asset price.
With the Pepe price filling up a triangle, a breakout is imminent with the odds favoring the upside. If the bulls are able to overcome resistance due to the upper boundary of the triangle, the Pepe price could extend north to test the $0.00001600 psychological level. In a highly bullish case, the gains could extrapolate for the Pepe price to reclaim the range high of $0.00001726, levels last tested on May 27.
GeckoTerminal: PEPE/USD 1-day chart
On the other hand, the position of the MACD line below its signal line is concerning, suggesting a potential bearish signal. This occurs when the short-term moving average falls below the long-term moving average, indicating that the momentum may be shifting toward a downward trend.
If the bears have their way, the Pepe price could retract. A slip below the lower trendline would expose the Pepe price to a cliff. A move below the trendline of the Fibonacci indicator and the $0.00001308 support would toss the Pepe price in the hands of the bears.
In such a directional bias, the Pepe price could roll over south, providing another buying opportunity at $0.00001100. In a dire case, the dump could extend for PEPE to test the $0.00000889 bottom of the market range.
With concerns over the future direction of the PEPE price, some analysts are recommending new presale PlayDoge, which has rocketed past $2.5 million raised in a little over a week.
Crypto YouTuber Jacob Bury says it is the new 10X potential play-to-earn meme utility token.
Promising Alternative To Pepe
PLAY token is the native cryptocurrency for the PlayDoge project. This is a mobile-based play-to-earn (P2E) game committed to transforming the DOGE meme into a Tamagotchi-style virtual pet. This allows users to seamlessly earn $PLAY tokens.
#PlayDoge is 💯 across the board.
His stats speak for itself, you’ve just gotta keep him healthy! #Presale 👉 https://t.co/JT0VEofY4A#MemeCoin #Fallout #BNB #P2E pic.twitter.com/Jpzc6MteuE
— PlayDoge (@PlayDogeGame) June 5, 2024
The project is based on the mascot PlayDoge, a virtual dog acting as a P2E companion where players timely feed, train, and play with their 2D Doge, earning $PLAY tokens in the process.
Introducing #PlayDoge – the only #P2E Doge companion! 🐶
Inspired by the legacy of #Tamagotchi, feed, train and play with your 2D Doge to earn $PLAY. 💰
Don't neglect your doge, his life's on the line 😲💀
Join the #Presale Now ⬇️https://t.co/JT0VEofqf2 pic.twitter.com/RoJYXLS1FH
— PlayDoge (@PlayDogeGame) June 3, 2024
$PLAY runs on the BNB Smart Chain, which means that the token is on the radar of the Binance listing team. With Binance being the largest centralized exchange in crypto, a listing might increase its accessibility and liquidity.
PlayDoge is unique from other meme tokens as it provides utility for the $PLAY token, and monetizes gameplay using the $PLAY token while introducing a globally resonant meme at the same time.
Get in on the action early with our #Presale launch! 🚀#PlayDoge brings together gamers and #Crypto enthusiasts for a trip down memory lane. 💭
Grab your tokens now! $PLAY
#P2E #MemeCoin #BNB pic.twitter.com/BBUtS3eFqV
— PlayDoge (@PlayDogeGame) June 4, 2024
Holders can also earn passively through the project’s staking option by staking PLAY tokens for an annual percentage yield (APY) of 121%.
You can buy $PLAY tokens for $0.00504 each. With a price hike coming in less than three days, buy soon if you are interested to lock in the best deal.
To buy PLAY tokens, visit https://playdoge.io/en
Also Read:
- How to Buy PlayDoge – $PLAY Presale Review
- PlayDoge Price Prediction – PLAY Price Potential in 2024
- Best Crypto ICOs of 2024: Top Picks for Big Returns
- Meme Coins Flash Crash As Pepe, Dogwifhat, And Shiba Inu Plunge Amid 8% Sector Slump
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