The meme coin market has recently seen a surge of interest, with Pepe Coin (PEPE) gaining nearly 18%.
Outpacing established meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), PEPE seems poised for further growth as retail investors begin paying attention to the token once more.
Meanwhile, investors are also betting on the future of Meme Kombat (MK) – a brand-new project generating tremendous hype through its presale phase.
PEPE Technicals Offer Mixed Signals Amid Recent Price Surge
PEPE is trading around the $0.00000073 level, soaring 17% since Friday morning.
This surge occurred after PEPE broke above its 20-day Exponential Moving Average (EMA) on the daily chart, signaling a potential trend reversal.
Trading volumes are also up 47% in the past 24 hours, hitting $129 million as interest in the trending meme coin grows.
However, PEPE remains stuck below the 50-day EMA, acting as a dynamic resistance level.
Upside could be limited unless bullish traders can push past the stubborn resistance level at $0.00000080, which was breached temporarily on October 1.
Additionally, the Relative Strength Index (RSI) for PEPE has been trending upwards, currently hovering around the 57 mark – and looks to be inching closer to overbought territory.
While long-term holders have welcomed PEPE’s price rise, caution may still be necessary in the coming days, given the mixed technical signals.
Flipped Investor Sentiment Fuels PEPE’s Ongoing Rally
With PEPE still gaining, investors are questioning what is driving this renewed interest in the world’s third-largest meme coin.
Several factors could be contributing to traders buying up PEPE right now, such as the recent dovish stance from Fed Chair Jerome Powell, which reduced fears of aggressive rate hikes going forward.
This has created a more favorable environment for cryptocurrencies to thrive – especially highly speculative ones like PEPE.
Secondly, as 2023 draws to a close, risk-tolerant investors are looking to PEPE as a crypto-asset that could outperform the broader market.
Unlike newer meme coins, PEPE enjoys strong community support and high liquidity, offering a degree of reliability for meme coin enthusiasts.
Finally, the recent price increases in leading cryptocurrencies like Bitcoin and Ethereum are likely boosting optimism across the sector, potentially benefiting smaller tokens like PEPE.
Ultimately, while the coin’s short-term technicals remain mixed, PEPE’s recent gains highlight that investor sentiment is leaning more bullish than bearish for the time being.
Meme Kombat Presale Heats Up as New Gaming Token Seeks to Dethrone PEPE
As interest in Pepe Coin surges, a new gaming meme coin called Meme Kombat (MK) aims to take its throne through an innovative Ethereum-based platform.
Currently in presale, Meme Kombat lets users battle popular meme characters and bet on match outcomes to earn rewards in MK – the platform’s native token.
This meme-powered battle arena offers a unique twist on the thousands of low-utility meme coins in the market and is bolstered by a high-yield staking protocol that offers APYs of 112% during the presale.
With meme coins like DOGE, SHIB, and PEPE seeing massive gains in recent years, Meme Kombat’s team looks to offer real-world value in order to capitalize on this explosive market.
Meme Kombat’s whitepaper lays out plans for ongoing upgrades, community growth, and subsequent “seasons”, each of which will feature new characters and game modes.
Season 1 will kick off immediately after MK is launched on major decentralized exchanges like Uniswap – an event slated to occur once the presale ends.
Given that more than $650,000 of the $1 million funding goal has already been raised, many early backers believe the presale is on track to sell out in the coming weeks.
As PEPE tries to reclaim its former glory, Meme Kombat is positioning itself as a strong contender in the meme coin market – making it a project to watch closely going forward.
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