Pepe Price Prediction: PEPE Pumps 9% As Investors Turn To This New Meme Coin Held By Justin Sun

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Pepe price is up 9% in the last 24 hours to trade for $0.00000143 as of 2:00 a.m. EST, with a 50% surge in trading volume.

With this surge, Pepe coin is rising again after being upstaged by Bonk Inu (BONK) during much of December.

The surge has also seen Pepe price outperform sector moguls like Dogecoin (DOGE) and Shiba Inu (SHIB), whose market values are up 2% and 3% respectively.

Since the market turned bullish on October 18, Pepe price has exhibited massive volatility, consolidating along an ascending trendline. As long as it remains above this bullish technical formation, investors can expect more gains.

Pepe Price Prognosis As PEPE Outperforms Meme Coin Peers

Currently, Pepe price is contending against a supply zone, which stretches between $0.00000146 and $0.00000172. To confirm the continuation of the intermediate trend, the frog-themed token’s market value must record a daily candlestick close above the mean threshold of the supply barrier at $0.00000159.

Further north, the gains could extend for Pepe price to flip the supply zone into a bullish breaker, using it as the jumping-off point to test the equal highs at $0.00000189. Clearing this formidable barricade could set the tone for a test of the range high at $0.00000193, or in highly bullish cases, record a new local top above the range high.

The position of the Relative Strength Index (RSI) is above 50, pointing to a promising price strength, with the position of the Awesome Oscillator (AO) in the positive territory showing the bulls maintain a presence in the PEPE market.

Converse Case

On the flipside, despite the RSI being above 50, it appears subdued, moving horizontally while the AO histogram bars are flashing red. If the supply barrier holds as a resistance, Pepe price could face a rejection, sending it below the support offered by the ascending trendline. A break and close below the $0.00000120 psychological level would invalidate the prevailing bullish outlook.

In the dire case, the slump could send Pepe price to the depths of $0.00000085, a move that would denote a 40% drop below current levels.

Meanwhile, investor attention has shifted to Sponge V2, an upgrade to the original Sponge V1 project that thrived during the May 2023 bear market.

The token features among analysts’ top picks for the leading cryptos to buy now amid expectations of explosive growth.

https://www.youtube.com/watch?v=V9JtltmS8W4

Promising Alternative To PEPE

Sponge V2 is a remarkable token, only available through the stake-to-bridge mechanism. It is the second and more refined version of Sponge V1, whose success story is expected to extend to Sponge V2.

https://twitter.com/spongeoneth/status/1736710430888739065

In case you missed it, Sponge V1 is remembered as one of the biggest meme coins of 2023, boasting an outstanding leap from a market capitalization of $1 million to that of $100 million at its peak. Investors who joined the SPONGE community early enjoyed nothing short of 100X growth. Do not miss out this time.

https://twitter.com/spongeoneth/status/1738877238907371738

Investors that buy or stake Sponge V1 on the website get an equal amount of Sponge V2 tokens, alongside additional staking rewards from their staked or locked V1 tokens over 4 years.

If you're holding original $SPONGE tokens, you must stake them in our V2 smart contract via the website home page. 🙌

You'll automatically secure your share of the V2 token upon launch. 🚀

GO GO GO 🧽🧽🧽🧽#Sponge #Web3 #Crypto #Alts pic.twitter.com/I6eX3nQVGN

— $SPONGE (@spongeoneth) December 23, 2023

To become a Sponge V2 holder, you can either buy and stake Sponge V1 through the Sponge.vip website’s buy widget, or stake already held Sponge V1 through the Sponge.vip website.

Remember, the more V1 tokens you stake, and the longer you stake them, the more V2 tokens you will earn. You can claim the Sponge V2 tokens once the remaining supply of Sponge V1 is exhausted.

Tron Founder Justin Sun Holds SPONGE

Notably, Sponge V2 has garnered the support of crypto executives including Tron founder and Huobi Global advisor Justin Sun. Earlier in 2023, Sun revealed plans to start trading meme coins more actively.

I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023

Living up to the commitment, one of Sun’s wallets, christened ‘Justin Sun 4’ holds $500 million in crypto assets, including a significant portfolio of meme tokens. Among the huge market cap meme coins in his portfolio include SHIB, FLOKI, BabyDoge, and PEPE.

The lower market cap holdings include TOSHI, BOBO, BABYPEPE, and most interestingly, 108 million SPONGE tokens worth approximately $44,000. With such an enormous SPONGE portfolio, Sun is believed to be the 14th largest holder of Sponge even as it bridges off to Sponge V2.