Over the past 24 hours, the Pepe coin has pumped 10%, with its volume up 19%. Its price is down over 20% this month, but could this be the beginning of a reversal?
Meanwhile, popular Shibie Coin is quickly selling out of its presale, with its sight set firmly on its upcoming DEX listing.
Pepe Surges After Touching a Key Support Level
Pepe is up 10% in the last 24 hours, indicating significant bullish momentum. However, Pepe’s last 24 hour does not paint an entire picture. Pepe has struggled since its local top on 3 July, with much of the market’s excitement shifting to newer trending meme coins.
The price has continued trending downwards, making lower lows and lower highs, that is, until yesterday when Pepe strongly rejected a long-term support level.
As seen on the Pepe price chart below, PEPE is trading just above the $0.0000010645 level, where it bounced following the sell-off after its 5 May all-time high.
Pepe also closed at this level on 3 May and used it as support and resistance before creating its 3 July local high.
Therefore, the recent Pepe pump is seemingly due to traders placing significant buy orders at the support level, anticipating a bounce to the upside.
Looking at CoinMarketCap analytics, we can see that the total number of Pepe holders has been gradually increasing recently.
Currently, the amount of Pepe that whales hold is at its highest since 21 June.
Over the past day, whales have begun accumulating more Pepe, with one whale recently purchasing over 22 billion Pepe worth 14.49 ETH on Uniswap.
Social metrics show that sentiment may currently be shifting for Pepe. Analytics tool LunarCrush reports a 19% increase in Pepe’s social mentions this week.
That said, Pepe currently sits at a considerable $475 market cap and has been trending downwards for over a month. The recent pump is insufficient to confirm a reversal, so there is still potential for further downside.
However, all is not lost for meme coins, as some newer, more trending projects have come to fill the void.
Barbie-Shiba Inu Crossbreed Shibie Coin Surges Past $200K at Presale with Just 5 Days Left to Buy
Shibie Coin is a new presale meme coin inspired by the recent blockbuster Barbie movie. The project aims to tokenise the provocative allure of Barbie while merging it with the culturally iconic Shiba Inu to maximise its market appeal.
Essentially, Shibie Coin aims to serve two types of investors – prudent, trend-savvy traders looking to capitalise on the Barbie movie and meme coins degens seeking the next rollercoaster adventure with a vibrant community.
Since its presale launch, the project has raised over $220K. The presale is taking place at a single price of $0.000167, but investors must be quick as it has a modest $999,999 hard cap.
With this in mind, Shibie Coin is a true low-cap gem which could present significant upside potential. The project has already begun amassing a community, with YouTuber Crypto Clinix recently making bullish predictions for $SHIBIE.
60% of the Shibie Coin tokens are allocated to the presale, with 5% to marketing, 20% to liquidity, 5% to the team and 10% to CEX listings.
While no official statements have been made on CEX listings yet, Shibie Coin’s blend of Barbie and Shiba Inu could lead to massive popularity if a tier-one exchange picks up the project.
Nostalgic Meme Coin Cowabunga Coin Launches Presale – Could it be the Next Pepe?
Another new meme coin making waves is Cowabunga Coin, which is based on the hit 90s TV show Teenage Mutant Ninja Turtles. It pays homage to the “half-shelled heroes” from the sewers of New York City, urging its community to embrace their inner ninjas and take on a wild adventure.
The project is a unique combination of cartoon-filled fun and compelling tokenomics to financially incentivise holders.
There is a total supply of 4,000,000,000 $COWABUNGA, with 35% allocated to the presale, 20% to trading liquidity, 25% to community rewards and airdrops, 10% to strategic partnerships and 10% to CEX listings.
The Cowabunga tokenomics were carefully designed to reward the community while promoting long-term growth for the project.
One of Cowabunga Coin’s main draws is the recent release of the Teenage Mutant Ninja Turtles movie. This could drive significant interest in the project, with fans looking pay homage and join a like-minded community.
Cowabunga’s presale has a $500K hard cap, putting its fully diluted market cap at launch at $1.42 million.
The presale is priced at $0.000357, but investors looking to buy at that price must hurry – supply and demand will determine the $Cowabunga price once it launches on exchanges.