Pepe coin has seen a notable resurgence after climbing almost 50% this month. However, its price has dipped 2% today. Could this be a signal that momentum is shifting bearish, or is Pepe destined for new highs?
Another project showing significant bullish momentum is Meme Kombat, a utility-driven meme coin undergoing a presale. Numerous analysts are backing this to outperform Pepe in the coming weeks due to its strong community and tokenomic advantages.
Pepe Technical Analysis Points to Further Pullback, but Traders Remain Optimistic
On the surface, the 4-hour Pepe chart looks significantly bullish, having broken above a crucial resistance following a prolonged capitulation.
However, despite its pullback from its highs in late October, Pepe’s trading volume is following a downtrend alongside its relative strength index (RSI) indicator. What’s more, Pepe has also broken below the 20-day EMA.
These factors display bearish momentum since there is diminishing interest in Pepe despite the pullback. Still, its price has yet to retest its previous resistance level of $0.00000107, making it a crucial level to watch. If the price reacts positively with a bullish engulfing candle, for instance, we could see higher highs.
However, a lack of buyer interest at this level could result in a break below and a move to the next level down at $0.00000085.
That said, traders remain overarchingly bullish on Pepe’s price potential. According to TradingView analyst Ifiok-2sydes, Pepe has broken a falling channel. This is a strong indication of a price reversal, with the trader predicting a move to $0.00000184.
Bithereum_io shares the previous trader’s bullish sentiment, noting that Pepe is moving towards breaking the daily 100-day moving average. According to the analysis, this could propel Pepe to $0.000002.
On the other hand, analyst Yusakudo_yle predicts a sell-off to between $0.000001 and $0.00000085. However, the trader expects a pump toward $0.0000028 to follow.
Regardless of Pepe’s future price, Bloomberg recently noted that the project is leading many other meme coins to enjoy significant rallies. One of the most promising new meme coins is Meme Kombat, which is undergoing a massively successful presale.
GambleFi Meme Coin Meme Kombat Nears $1M With Investors Drawn to 112% Staking APY
Meme Kombat is a new meme coin with significant utility and a cutting-edge concept. The project enables users to gamble on the outcome of AI-generated meme battles in multiple game modes like Player vs. Player and Player vs. Game.
This innovative project blends the viral allure of meme coins with the trending crypto casino concept for a truly immersive and potentially lucrative opportunity for users and investors.
The project is currently undergoing a presale, priced at $0.0116 per $MK token. However, investors must be fast as this price will rise in two days.
One of the reasons for its early presale success is that the token holds significant utility. As well as being used to gamble, users can also stake $MK for a 112% APY. This could remove a notable portion of the tokens, enabling any incoming demand to bolster the $MK price.
Another benefit is that the Meme Kombat team is public and well-experienced, boasting vast expertise across the blockchain, business, and tech industries. This holds significant importance, considering Pepe’s downfall in August was due to issues with its team and transparency.
Traders are also optimistic about Meme Kombat, with Cilinix Crypto recently saying it could boast “amazing potential returns.”
However, with its presale selling fast, potential investors must be quick to secure the best price.
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