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Today, many cryptocurrencies are outperforming others with massive gainers while captivating the crypto market. In the last 24 hours, PEPE, XRP20, SHIB, and Launchpad XYZ have recorded tremendous surges and milestone achievements.
Although these gains may trigger investors to jump on these assets, their technical analysis could help them understand what to expect in the long run. Keep reading to discover more about today’s top crypto gainers!
Pepe Coin (PEPE)
Since the early hours of today, the price of the frog-themed meme coin has been showing a positive move. Regarding daily growth, PEPE is surpassing Shiba Inu, which ranks as the second-largest gainer among the top 100 cryptocurrencies, having risen by over 6% in the past 24 hours. ,
Meanwhile, Lookonchain has detected significant movement from an anonymous investor within the PEPE market. According to Lookonchain, the investor has taken a big step by acquiring 1 million USDC to obtain 807 billion quantities of PEPE. Also, Intotheblock reported that the adoption rate of PEPE has recently increased by over 28% as of 12:12 PM EST.
A whale spent 1M $USDC to buy 807B $PEPE at $0.000001239 7 hrs ago after the price of $PEPE increased.https://t.co/P03KsDrzFi pic.twitter.com/0hjW6ewDjp
— Lookonchain (@lookonchain) August 9, 2023
The factors above could help in propelling the price of PEPE further. As of 12:12 PM EST, PEPE is up by over 9%, trading at $0.000000124. Additionally, its trading volume has surged to over $220,000, representing an increase of about 240%.
PEPE is Projecting an Uptrend in The Bulls’ Control
PEPE/USDT Daily Chart | Source: TradingView
PEPEUSDT is trading above the EMA 9 (Exponential Moving Average with a period of 9) indicator, which suggests that the asset’s recent price movement is generally on an upward trend.
If PEPE’s price could stay above the EMA 9 consistently, it will indicate high bullish pressure, and the price may increase further. The RSI at 44 confirms the market balance, indicating that buyers and sellers are nullifying themselves.
Meanwhile, the MACD is trying to cross over the signal line, and the red histogram bars are fading, indicating a shift in market sentiment.
XRP20 (XRP20)
XRP20 (XRP20) is a new Ethereum token built on a proof of stake (PoS) model. It aims to emulate Ripple’s (XRP) principles and tokenomics, focusing on serving retail investors.
Although Ripple inspires this project, it’s crucial to note that it’s an independent effort, separate from the well-known large-cap coin. Notably, when Ripple was established in 2012, retail investors couldn’t access XRP through ICOs.
The presale for XRP20 ($XRP20) has now amassed over $1.4 million, leaving less than 50% of the available tokens left for buying. Over the past week, XRP20’s presale has witnessed growing demand, fueled by investors’ increasing fear of missing out (FOMO) as they seek involvement with this new token.
Investors can acquire $XRP20 tokens at a mere cost of $0.000092, which is 30 times more affordable than $XRP’s historical low of $0.0028. This concept resonates with those who didn’t get the chance to participate in XRP’s early stages.
Shiba Inu (SHIB)
Shiba Inu has hit a new milestone, appearing as a preferred crypto for paying off mortgages, rent, car payments, credit cards, personal loans, and more using BitPay.
This recent upgrade has spike interest in the coin, attracting more investors to the Shiba Inu ecosystem. Its utility token, SHIB, is up by 1.21% in the last 24 hours, priced at $0.000009539.
Paying bills in the US just got an upgrade! @BitPay now lets you pay for Mortgage & Rent, Credit Cards, Car Payments, Personal Loans, and more using $SHIB 🏡💸 Say goodbye to the mundane and hello to the world of crypto convenience. Check it out: https://t.co/1BYHHkls8A 🚀🌙…
— Shib (@Shibtoken) August 9, 2023
Also, considering its 24-hour trading volume up by 50.68% today, recording over $406 million, SHIB’s potential for more significant gains is alluring.
SHIB Upholds Above Short-Term Moving Average
In the chart above, SHIB forms a flat green candle above the 50-Day Simple Moving Average (SMA) but a few pips below the 200-Day SMA. This indicates a potential consolidation while representing an indecision phase in the price movement.
The flat green candle shows a lack of significant price movement as of 1:30 pm EST, but since its closing price is higher than the opening price, SHIB’s price will likely continue the bullish bias.
On the other hand, the asset’s Relative Strength Index (RSI) is at 63 but is moving in the neutral zone. This shows a balance in SHIB’s market, showing no clear indication of strong buying or selling pressure.
If buyers surpass sellers, the RSI will move to the overbought zone (above 70), suggesting potential gains. But if vice versa, the RSI will move to the oversold zone (below 30), suggesting potential dips.
In contrast, SHIB’s Moving Average Convergence Divergence (MACD) is above the signal line and has green histogram bars. This shows the strong bullish momentum on the coin’s price today.
Although Shiba Inu is bullish in the short term, the overall market trend is still bearish considering its price is below the 200-Day SMA. Nevertheless, traders should monitor these indicators closely as SHIB could break above this critical moving average in the coming weeks.
Launchpad XYZ (LPX)
Launchpad XYZ (LPZ) has raised over $1.2 million from its $1.5 million presale benchmark. This new milestone shows that the token presale is selling out shortly. Meanwhile, the token is still priced at $0.0445, allowing those interested in the project to buy in now.
🎉 HUGE NEWS! We’ve just crossed the $1.2 million mark in our #Presale!
A heartfelt thank you to our incredible community. The journey has only begun 🚀
Join the $LPX presale today! ⤵️https://t.co/6qHqqRBG7F#LaunchpadXYZ #Crypto #Web3 #Trade #Alts pic.twitter.com/fZpXciMLVp
— Launchpad.xyz (@launchpadlpx) August 8, 2023
Launchpad XYZ (LPX) is a novel crypto initiative aiming to be the all-in-one platform for Web3. It is a central hub for diverse projects, offering a curated Web3 experience. LPX, its utility token, grants holders exclusive features, governance participation, and potential rewards.
Unlike peers, Launchpad XYZ is a user-centric portal that offers insights and analytics across Web3 sectors, providing traders, investors, and users with an elegant interface for informed decisions.
Since LPX plays a vital role in the Launchpad XYZ platform, interested investors and enthusiasts should buy the token USDT, ETH, BNB, or card, before the presale ends.
Conclusion
To sum up, today’s top crypto gainers have impressed investors and enthusiasts, highlighting the dynamic nature of the market. These performers underscore the potential for growth and volatility within crypto assets, driven by various factors.
They serve as examples of the diverse opportunities available. While navigating this evolving landscape, staying informed, conducting thorough research, and weighing risks and rewards are essential.
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