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The Pepe price jumped 8% in the past 24 hours to trade for $0.00000820 as of 02:12 a.m. EST time as trading volume surged 82%.
This comes as meme coins bounce back with the sector’s market cap also climbing 8% to $61.4 billion, according to CoinMarketCap.
Sounds like a wild ride! Let's see if the FLOKI train follows the PEPE rocketship to the moon
— Resham Singh (@Resham_888) March 20, 2024
The Pepe price action has consolidated into a falling wedge pattern. This technical formation is bullish and occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower.
Within this pullback, two converging trend lines are drawn. The consolidation part ends when the price action bursts through the upper trendline, or wedge’s resistance.
Pepe Price Prediction With A Falling Wedge Governing Chart Pattern
The Pepe price is testing the upper boundary of the falling wedge. It could break above this blockade if the Bitcoin (BTC) price continues to show strength. Notably, the re-awakening of meme coins comes amid capital overflows from the BTC market, as it has been in previous bull markets.
To confirm the continuation of the uptrend, however, the Pepe price must foray into the supply zone, extending from $0.00000874 to $0.00001003, break, and close above its midline, the mean threshold, at $0.00000937.
Such a move would pave the way for a continuation of the uptrend, with the Pepe price likely to reclaim its $0.00001084 range high. Such a move would constitute a climb of around 30% above current levels.
The Relative Strength Index (RSI) is above the 50 mean level, a stance that when coupled with the sustained green histogram bars of the Awesome Oscillator (AO), shows growing bullish sentiment.
Notably, the Moving Average Convergence Divergence (MACD) is edging closer to moving above the orange band of its signal line. This shows that the bullish momentum is gaining strength.
TradingView: PEPE/USDT 12-hour chart
On the other hand, if the traders begin to cash in for early profits, the Pepe price could retract to test the lower boundary of the wedge, marked by the ascending trendline. If this trendline fails to hold as support, the Pepe price could extend the fall, going as low as $0.00000581.
With meme coins recovering, investors are scrambling to buy Sponge V2, an upgrade to Sponge V1, that is due to list on more major exchanges soon.
Promising Alternative To PEPE
Sponge V2 is a stake-to-bridge token, taking the stage after its predecessor, Sponge V1, recorded massive success in 2023 with 100X gains in a bear market. Sponge V2 is giving investors who missed the 2023 rally a second chance.
Early in February, the network migrated to the Polygon chain following a malicious attack. On the Polygon network, users can enjoy more secure, efficient (faster), and cheaper transactions. The project is also running on the Ethereum blockchain.
Important reminder! ⏰
Exchanges have been asked to suspend trading of $SPONGE V1 on the 5th of February at 11 PM UTC.
We strongly advise all holders to withdraw their tokens from centralised exchanges and stake through the #Sponge website as soon as possible.#MemeCoin #Alts pic.twitter.com/1L8bwZcJfu
— $SPONGE (@spongeoneth) February 2, 2024
Sponge V2 is available for staking on both of these two networks. Simply buy Sponge V2 and stake it.. Sponge token stakers get an Annual Percentage Yield (APY) of 171% and up to 393% on Polygon.
To increase community engagement, Sponge V2 has also introduced a new P2E racer game where players can compete against each other for a chance to win $SPONGEV2 tokens as rewards.
Don't forget, #SPONGERS! 🧽💦#SpongeV2 is bringing exciting utility through our upcoming #P2E game! 🔥
Get ready to earn $SPONGE tokens by playing the game and ranking on the leaderboard.
Stay tuned for more info! 🚀#MemeCoin #Crypto #Alts #100x pic.twitter.com/5aaLxGz8N1
— $SPONGE (@spongeoneth) March 22, 2024
Cognizant of just how much promise Sponge V2 bears, Tron (TRX) founder and Huobi Global advisor Justin Sun has demonstrated support for the project.
He continues to hold SPONGE V2 in his meme coin portfolio and analysts rank it among their best choices for promising meme coins.
Justin Sun holds this #memecoin :O I won't even say anymore… this could destroy #SNEK and #PEPE..! Who remembers #SPONGE?!! 🫢🔥$SPONGE V2 is making loud movements in the market, even #Trons very own Justin Sun is holding $50k worth of SPONGE! 😮 💎💎
DYOR -… pic.twitter.com/ULzSDJdYnS
— Jacob Crypto Bury (@BuryCrypto) January 4, 2024
Meme coins with a great staking program are in high demand and with new listings on top-tier exchanges rumored to be imminent, now is a great time to buy Sponge V2.
Also Read:
- How to Buy Sponge V2 On Presale – Alessandro De Crypto Video Review
- 100X Meme Coin Sponge Prepares For Second Takeoff With Launch of V2 – Is $SPONGEV2 The Best Crypto to Buy Now?
- Can Sponge V2 Experience a 100x Surge Similar to Sponge V1 Upon Its Launch in 2024? Conor Kenny Presale Review
- $SPONGE Crypto Price Surge Sparks Speculation on SPONGE V2’s Meme Coin 100x Potential
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