Pepe (PEPE) has surged by 5% in the last 24 hours, according to CoinMarketCap, as trading volumes rise and the broader cryptocurrency market rallies.
Currently, PEPE is trading just below $0.0000078, with its trading volumes skyrocketing to nearly $800 million today.
This data, sourced from Yahoo Finance, suggests that by the end of Tuesday, trading volumes could potentially double Monday’s figure of $490 million.
However, this doesn’t necessarily indicate that the bulls have taken full control of the market.
Earlier on Tuesday, PEPE’s price hit resistance at its 200-day moving average (200DMA) of $0.0000084, which could limit the rebound from last week’s lows of under $0.000070.
When looking at PEPE over a longer timeframe, the token remains in a downtrend.
As long as PEPE remains below its key moving averages, the likelihood of retesting the recent lows of under $0.0000060 is greater than that of a sustained recovery.
This situation has led many PEPE holders to explore alternative investments that might offer quicker gains.
One strategy worth considering is participating in meme coin presales.
Meme coin presales have distinct advantages over tokens that are immediately launched on a decentralized exchange (DEX).
A presale provides time for anticipation to build around a project, and the funds raised can be allocated towards marketing efforts, increasing the chances of the coin going viral.
Analysts at Cryptonews.com are closely monitoring the crypto presale market. Here are some of their top recommendations.
16 Best New Meme Coins to Buy in August 2024
Can PEPE Reach $1 Someday? In the meme coin community, there’s a fixation on the idea of eliminating zeros from the price.
Dogecoin (DOGE) investors, for instance, have long hoped to see DOGE reach $1.
But what about PEPE? Could it also reach $1 someday?
Realistically, unless there’s a significant change in the tokenomics, this seems highly improbable.
With a total supply of 420 trillion tokens, reaching $1 would require a market cap of $420 trillion for PEPE. That’s over 360 times Bitcoin’s current market cap, which is just under $1.2 trillion—not a likely scenario.
However, if the PEPE community were to artificially reduce the token supply by eliminating zeros, then yes, it becomes a more feasible goal.
An Alternative to PEPE
One of Cryptonews.com’s analysts’ top picks for meme coin presales is a new, exciting project called Pepe Unchained (PEPU).
This meme coin is centered around a meme coin-focused Ethereum layer-2 protocol and is currently in its presale phase.
Here’s why popular crypto presale analyst ClayBro believes Pepe Unchained has the potential to significantly outperform PEPE.
