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Despite a recent market plunge, Pepe, a popular meme coin from 2023, continues to perform well in the 2024 crypto market.
Positioned as the third-largest cryptocurrency within the meme market segment, investors and enthusiasts have closely monitored its journey.
This article explores Pepe’s recent performance and the larger landscape of meme coins within the cryptocurrency sphere.
Pepe price analysis
Today, the price of Pepe, a top frog-themed meme coin, surged by more than 14%. This increase comes as big holders, known as whales, show more interest in it. Additionally, recent data on derivatives suggests that investors are turning their attention to Pepe Futures, indicating growing confidence in the cryptocurrency.
With a market cap of $2.96 billion, there’s hope that Pepe could return to its peak value of $5.4 billion, potentially leading to significant profits for investors.
While Pepe experienced a 3% drop over the past week and a 1% downturn for the month, these numbers reflect a broader trend in the meme coin market. Many investors have faced losses due to heightened FOMO during recent peaks, like Doge Day.
Despite these setbacks, Pepe has shown impressive growth over the past year, including exchange listings, token burns, and audits. These achievements demonstrate its resilience and potential for long-term success.
Compared to other meme coins like Dogecoin and Shiba Inu, Pepe’s performance is noteworthy. While Dogecoin and Shiba Inu have also seen declines, Pepe has the potential for significant gains, especially if it can replicate Shiba Inu’s success.
Pepe price prediction
After staying mostly neutral for the first two months, the price of PEPE experienced a huge surge in March, jumping by over 700% and reaching a high of $0.000010. However, the momentum slowed down afterward, and since then, the price has been influenced by bears.
PEPE memecoin has formed a symmetric triangle pattern in the 1D time frame and is still trading within it. The Cross EMA 50/200-day signals positivity by backing the price chart, suggesting a likelihood of bullish price movement in the future.
The MACD technical indicator shows a continuous decline in the green histogram, indicating increased selling pressure. Additionally, the averages suggest a potential bearish convergence in the 1D time frame, indicating mixed sentiment in the crypto market.
If the bulls regain control, PEPE memecoin could test its resistance level of $0.00000785 over the upcoming weekend. Maintaining the price at that level could pave the way for an attempt to reach its upper resistance level of $0.000010 this month.
However, if bearish trends continue, PEPE’s price may fall towards its important support level of $0.0000590. Failing to hold the price at this level could lead to a drop to its crucial support level of $0.0000040 in the near future.
The recent downturn in meme coins has sparked discussions about the sustainability of the meme coin rally. Despite this, many believe that we are still in the early stages of this trend. With upcoming market catalysts and historical patterns suggesting further growth potential, optimism remains high.
One project showcasing this optimism is Dogeverse, a presale gem that has raised $13 million. Its presence across multiple chains and anticipated price rise highlight ongoing interest in meme coin investments and the potential for significant rewards for early supporters.
Dogeverse poised to be the next meme coin sensation
Dogeverse (DOGEVERSE), the latest sensation in meme coins, has surpassed the $13 million mark. This multi-chain Doge has been the talk of the town in April 2024. If the presale progress is anything to go by, the upcoming exchange launches of Dogeverse could spark a surge in meme coin activity in May.
🚀 We Did It! $13 Million. 🤯
$DOGEVERSE the first #Doge #Presale spanning #Ethereum, #BNB Chain, #Polygon, #Solana, #Avalanche, and #Base…and it's showing!
Cosmo is wagging his tail in appreciation, and so are we! 🌍🐕
The #Presale is still ongoing 💥 #MemeCoinSeason pic.twitter.com/GIUWSBCYcH
— DogeVerse (@The_DogeVerse) May 2, 2024
The presale has a hard cap of $17,002,500, so time is running out for investors to get in at the current $DOGEVERSE favorable price of $0.000305. Early adopters can purchase Dogeverse using various methods, including ETH, USDT, or traditional credit or debit cards, with a simplified process for early investments.
As each presale stage ends, a new round with slightly higher prices will begin. Additionally, investors can stake their coins to earn attractive rewards. Staking $DOGEVERSE coins yields a 85% APY, providing a long-term passive income source on top of its multi-chain capabilities.
Following this, the project intends to list on top decentralized exchanges (DEX) and centralized exchanges (CEX). Dogeverse’s rapid ascent to viral status can be attributed to its unique utility-focused approach. You can explore the potential future of Dogeverse through our $DOGEVERSE price prediction.
The project aims to unite different meme coin communities across various blockchain networks such as Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base. The project’s mascot, Cosmo, symbolizes its ethos. Cosmo can “hyperjump” between different blockchains seamlessly, emerging from a collapsing supernova.
With its multi-chain capabilities, Dogeverse holds significant potential to climb the ranks in the weeks following its launch. The increasing interest in the presale, despite broader market trends, indicates promising upside potential. To participate in the $DOGEVERSE token presale, visit thedogeverse.com.
Related
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- Solana’s Top Multichain Meme Coin Dogeverse Secures $13 Million In Ongoing Presale
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