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The Pepe price pumped 5% in the past 24 hours to trade at $0.0000009623 as of 5:40 a.m. EST on trading volume that surged 21% to $80 million.
Inspired by the early 2000s internet meme Pepe the Frog, Pepe aimed to capitalize on the popularity of meme coins like Elon Musk’s favorite, Dogecoin, and Shiba Inu. And it surged more than 7,000% after launch to become for a long time the king of meme coins.
But after a new meme coin on the Solana blockchain, $SMOG, surged by 1,335% upon its launch on Jupiter Dex yesterday, it has a new challenger. And with an upcoming airdrop, it presents itself as a formidable competitor, potentially overshadowing Pepe’s success.
Pepe Price Bulls Forms A Falling Wedge Pattern, Signals A Bullish Reversal
The support level for Pepe at $0.00000060 established a base for positive momentum, propelling the price upward, reaching $0.0000074 resistance. However, the bears have formed a resistance, forcing the price to decline.
The Pepe price signals a bullish trend reversal as the bears have formed a falling wedge pattern, which traders look at as a signal for a bullish trend reversal. This will enable the bullish to fly the price high above the upper boundary of the wedge, also confirming the anticipated bull rally.
However, the bulls must overcome the 50-day and 200-day moving average hurdles, which stand as immediate resistance for the Pepe price.
The relative strength index (RSI) trades upwards, rebounding from the oversold 30 level up upwards at 42, approaching the 50 midline level, indicating intense buying pressure. A further push in the bullish momentum could see the RSI surge to the 70 overbought level.
Pepe Price Prediction
Investors are optimistic about the formation of the falling wedge pattern, anticipating a bullish trend reversal. With support from the RSI, the bulls may drive the price higher, targeting $0.000002857 and aiming to surpass the previous high at $0.00000192.
However, bears could continue the downtrend and approach the support zone at $0.00000863.
Pepe’s prominence is under threat with the arrival of SMOG.
Analysts Back New Cryptocurrency SMOG As Next Big Solana Meme Coin
The SMOG token, a newcomer to the Solana blockchain meme coin scene, is rapidly gaining traction and reaching unprecedented heights. Analysts are hailing it as the next big thing among Solana meme tokens.
After its recent launch on Jupiter DEX, SMOG has swiftly emerged as one of the prominent meme coins on Solana, challenging the dominance of BONK with its slogan, “One meme coin to rule them all.” Smog witnessed an impressive surge of 1,335% upon its debut on Jup DEX.
Buy $SMOG To Receive Airdrop, 1000X Growth Potential
Additionally, the SMOG Token boasts a unique tokenomics structure, with 50% allocated to marketing, 35% for the much-hyped airdrop campaign, 10% for future exchange listings, and 5% for liquidity at launch.
After the Jupiters airdrop on Solana, which distributed a whopping $700 million, $SMOG pledged a huge airdrop for its investors. To join the upcoming airdrop, simply buy and hold $SMOG. 35% of the 1.4 billion token supply has been set aside for what’s being touted as the “greatest airdrop in history.”
$SMOG has already built a strong community. Additionally, $SMOG holders like you can be eligible for a portion of the campaign’s community bounty, which encourages you to hold onto your tokens.
Jacob Bury, a crypto analyst and YouTuber, labels Smog a token with the potential for 100X returns, and says it can achieve a $500 million market capitalization.
You can buy the SMOG token on its official website to be eligible for the upcoming historic airdrop.
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