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Meme coins have enjoyed massive gains over the last week, with Pepe Coin surging more than 30%. PEPE continues outperforming top meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) by rallying to the highest level within the last seven days.
But the new meme coin Meme Kombat (MK) continues to make exceptional progress in its presale phase, having raised more than $735,000 in its first month. Could it be the next Pepe?
Are Pepe Coin Bulls Able To Sustain The Higher Levels?
PEPE has displayed an impressive rally, adding over 27% in the last 24 hours. The frog-themed coin was trading in a tight range between $0.00000000018 and $0.0000000002 for over a week.
On Wednesday, the price gained momentum and broke out of the key resistance level at $0.00000000020. PEPE Coin continued to gain value and broke through the resistance offered by the Simple Moving Averages (SMAs), which were lying around the $0.00000000020 zone.
The price rose as high as $0.000000002536 before the $0.00000000026 psychological level rejected it.
Increased buying from the current levels could bolster PEPE above the said resistance with the short-term target set at the $0.00000000030 psychological level. Such a move would represent a 25% move from the current price.
PEPE/USD Daily Chart
Pepe Coin’s bullish outlook was supported by the upward-facing Moving Average Convergence Divergence (MACD) indicator. Note that this trend-following oscillating indicator had sent a call to buy PEPE on the daily chart. This occurred on October 26 when the MACD line (blue) crossed above the signal line (orange) as the market sentiment turned bullish.
This bullish cross was still in play suggesting that the market conditions still favoured the upside.
The latest rally had also flipped all the major SMAs from resistance to support. The area around the $0.00000000022 demand zone, where they all sat, provides robust support for the coin on the downside. Any attempts to pull the price below this level would be met by massive buying from this demand zone.
On the other hand, if the bears overpowered the bulls, the price would experience a dip in value and test its support level at $0.00000000022. Moreover, if the bears continue to dominate the market, PEPE will continue to lose value and test its lower support level at $0.00000000018. This would bring the total losses to 25% from the current price.
PEPE Alternatives
As the meme coin market continues pushing, a new contender called Meme Kombat (MK) is emerging and could be poised for sizable growth.
This innovative presale project blends the viral appeal of memes with crypto-based gambling for an immersive gaming experience.
Meme Kombat allows users to bet on battles between their favourite meme characters like DOGE, SHIB, and Pepe the Frog using the native MK token.
Moreover, the Meme Kombat platform has been subject to a comprehensive audit from Coinsult, ensuring its smart contracts are secure.
With Play-to-Earn battle modes, staking rewards up to 112% APY, and robust tokenomics, Meme Kombat looks well-equipped to deal with the volatility within the meme coin sector.
The project has already raised over $735,000 in its presale so far, showing strong early traction within the retail investor community.
We're not the only ones celebrating Meme Kombat hitting the $700k checkpoint🤩
Check out this video from @cryptonews covering the $MK presale:https://t.co/yOM3MUdV5K pic.twitter.com/BvMut9CGzA
— Meme Kombat (@Meme_Kombat) October 25, 2023
Meme Kombat’s innovative model and inherent potential have even led to backing from major crypto influencers like Crypto ZEUS, who told his over 66,000 subscribers in a YouTube video that MK is an exciting new meme coin that could explode 100X in 2023.
As seen with PEPE and DOGE previously, the right combination of hype and fundamentals can lead to enormous returns in the meme coin market – and Meme Kombat’s team appears to be capitalizing on both elements for potential success.
Visit Meme Kombat here for more details on how to participate in the presale.
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