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The Pepe price soared 6% to trade for $0.000008940 as of 4:50 a.m. EST time, with trading volume rising in parity.
This surge comes on the back of a resurgence in the Bitcoin price as it shatters the $70,000 psychological level to record an intra-day high of $71,658 on Binance against Tether (USDT) stablecoin. This has one user, @JakeGagain on X, saying PEPE is the next $10 billion market cap meme coin.
$PEPE Is The Next 10 Billion MC Memecoin. pic.twitter.com/FW0JvXWPKS
— JAKE (@JakeGagain) March 11, 2024
Nevertheless, despite the surge in PEPE, it has not outperformed its peer in the meme coin sector, Floki Inu (FLOKI).
Just look at that $FLOKI Volume (way bigger than $PEPE 's)🔥
Sooner than later:
1. $DOGE
2. $SHIB
3. $FLOKI https://t.co/bUYrGC6BFG pic.twitter.com/GDEIFBWbGD— Coffee ₿ (@CoffeeBTC_eth) March 11, 2024
Pepe Price Prognosis As BTC Tries To Haul Altcoins North
The Pepe price is sitting atop support due to the 78.6% Fibonacci retracement level in a market range measured between $0.000000860 and $0.00000993. However, as the price remains well below the upper band of the Bollinger indicator at $0.00001045, the altcoin is still not stretched so much and could still extend north.
The Relative Strength Index (RSI) that is still pulling to the north despite the overbought displayed by the RSI reinforces this status. With a possible buy signal in the works, increased buying pressure could see the Pepe price reclaim its $0.00000993 peak recorded on March 9.
Enhanced buyer momentum could see the Pepe price fill the market range and reclaim the $0.00000991 peak, with the potential for an extended move high. The next milestone for the frog-themed token in a northbound directional bias would be the $0.00001200 psychological level. Such a move would constitute a 30% climb above current levels.
TradingView: PEPE/USDT 1-day chart
On the other hand, if traders begin to cash in on the gains, the Pepe price could retract, losing the support offered by the 78.6% Fibonacci retracement level at $0.00000799. An extended fall could send the sensational meme coin to the most important Fibonacci retracement level of 61.8% at $0.00000646, or worse, the 50% Fibonacci retracement level of 0.00000539.
Elsewhere, investors are pursuing opportunities with Sponge V2, where staking offers an annual percentage yield (APY) on Polygon of 490%. Already more than $28 million worth of Sponge has been staked and bridged as analysts say the project also has 100X potential.
https://www.youtube.com/watch?v=vyZ25eoJ_B8&pp=ygUJc3BvbmdlIHYy
Promising Alternative To PEPE
Sponge V2 is the latest meme coin sensation, coming after its predecessor, Sponge V1, was discontinued on Feb. 5. The project innovates the market with unique strategies for transaction fees, liquidity, and staking, building on its predecessor’s success.
It features among the meme coins that analysts say could record exponential gains at launch.
Told you so. 🧽💦
$SPONGE https://t.co/XH4uXqNg1s
— $SPONGE (@spongeoneth) March 8, 2024
Sponge V2 now has a Polygon version and an Ethereum version. The migration to Polygon was inspired by a recent malicious attack on its liquidity pool. With this, it introduces token utility, potentially resulting in sustained demand over the long run.
At the same time, Sponge V2 maintains the appealing viral meme coin aspect of its previous iteration.
The token will soon list on multiple exchanges. However, before this happens, the staking function continues to give investors multiple opportunities for earning income passively. Buy and stake Sponge V2 to start earning rewards today.
📣 Attention, #SPONGERS!
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
Spongers will gain tokens by staking $SPONGE before the claim date. Token holders are currently enjoying annual percentage yields (APY) as high as 177% on Ethereum and 490% on Polygon.
Staking update! 🚀🧽
We now have over 9,138,851,394 $SPONGE tokens staked with a value of $27,864,372.8. 🤯
Stake your tokens today and enjoy our impressive current APY of up to 177%. 💪#Sponge #Memecoin #Crypto #Binance pic.twitter.com/PAqXyz5L6F
— $SPONGE (@spongeoneth) March 11, 2024
So far, upwards of 9.138 billion tokens have been staked. This is among the reasons why analysts rank it among the top five cryptos to invest in now. Crypto YouTuber Jacob Bury ranks Sponge V2 among the best meme coins to buy now.
With the Solana hype fading, and Ethereum being the leading altcoin, the recent bullish turn in the market could potentially inspire confidence in meme coins on its network. Besides that, the Ethereum network is gearing up for the Dencun upgrade, a narrative that could also bode well for sector tokens.
The future of #Ethereum is almost here! In under 48 hours, the #DencunUpgrade goes live, bringing us one step closer to a more scalable network. Let's celebrate the innovation that keeps $ETH at the forefront of technology! pic.twitter.com/uTUul4SIO3
— Dr. Nana Lecter (@DrNanaLecter) March 11, 2024
That suggests more investment might soon flow to projects like Sponge V2 that run on the Ethereum ecosystem. If you were not able to benefit from Sponge’s 100X explosion last year, seize the opportunity to invest in Sponge V2 before it launches on major exchanges imminently.
Also Read:
- Top Meme Coin Surges 13% In A Week As Investors Gear Up for 11 PM Sponge V2 Bridging Deadline – Stake Now, Time Is Running Out!
- Sponge Unveils Strategic Pivot To SPONGE V2 On Polygon Network Following Liquidity Pool Attack
- Alessandro De Crypto Sponge V2 Presale Update – High-Staking Rewards Investment Opportunity
- Sponge Staking And Bridging Blasts Past $10m, Ethereum And Polygon SPONGE V2 Yields At 190% And 968%
Newest Meme Coin ICO - Wall Street Pepe
- Audited By Coinsult
- Early Access Presale Round
- Private Trading Alpha For $WEPE Army
- Staking Pool - High Dynamic APY
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