As meme coin fever continues to grip the crypto market, many investors are still setting their sights on Pepe ($PEPE).
Although the token’s value has dropped significantly from May’s high, market participants are debating whether now is the time to buy the dip before a potential recovery.
In this article, we’ll explore $PEPE’s current price position, discuss where the token’s price could go in the months ahead, and highlight an alternative meme coin that looks poised for sizable growth.
Bearish Factors Stack Up as $PEPE Momentum Fizzles
At the time of writing, the $PEPE price is hovering around $0.00000133 – 70% below the all-time high posted on May 5.
Although $PEPE had a brief resurgence throughout late June and early July, the bearish momentum has resumed, with the token posting a loss in four of the last five weeks.
The strong resistance zone around $0.00000188 has proved to be a challenging obstacle for $PEPE to break, given that price has rejected it four times in recent months.
Unfortunately for $PEPE bulls, the price has also broken below the minor support level around $0.00000144 – opening the door for another downward leg.
According to data gathered from CoinMarketCap, the $PEPE trading volume over the past 24 hours was just $91.1 million, representing a 39% decrease from the previous day.
These elements combine to paint a bleak picture for $PEPE in the short-to-medium term unless a major catalyst prompts the bullish momentum to return.
$PEPE At Crossroads as Analysts Debate Potential Price Rebound
Given the bearish factors swirling around $PEPE, is there scope for the token to rebound and ignite a new uptrend?
While nothing is guaranteed in the meme coin market, some analysts believe $PEPE could stage a recovery if specific criteria are met.
YouTube analyst Zach Humphries released a video breakdown of $PEPE’s current market position, highlighting the recent consolidation period as a precursor to a potential bull run.
Additionally, crypto analyst Whale Analysis posted a $PEPE price chart on Twitter which had an upside target of $0.00000195 if the price can rebound and break above the local resistance zone.
Assuming this level is met, $PEPE would likely be drawn to the psychological price point of $0.0000020, which was last tapped in mid-May.
Overall, if buying volume and positive sentiment return, there is scope for $PEPE to surge upwards – although time will tell whether the meme coin can recapture its former glory.
Which Meme Coins Could Be a Better Investment Opportunity Than Pepe?
With Pepe’s price movements still volatile, many investors are opting to explore other meme coin opportunities.
One new contender that’s attracting attention is Evil Pepe Coin – a token that combines the legacy of $PEPE with its unique branding.
Evil Pepe Coin Amasses $1.3m Through Presale Ahead of Pending DEX Launch
As its name implies, Evil Pepe Coin ($EVILPEPE) is a brand-new meme coin that’s building on the legacy of the original Pepe.
Leveraging the robust community support and established reputation of $PEPE, Evil Pepe Coin is on a mission to disrupt the low-cap crypto space with a darker and edgier aesthetic.
Currently in its presale phase, Evil Pepe Coin has already raised a remarkable $1.3 million in early funding – setting a solid foundation for the token’s future growth.
Interested investors can purchase $EVILPEPE tokens through the presale for just $0.000333, which is expected to be a discount on the eventual DEX listing price.
Given there are now less than five days left of Evil Pepe Coin’s presale, these DEX listings are right around the corner.
Evil Pepe Coin’s whitepaper outlines that a substantial 10% of the total $EVILPEPE supply will be allocated to provide liquidity post-listing.
This appealing approach ensures a smooth trading experience for investors, with little-to-no price slippage.
Additionally, this liquidity allocation will be locked for one month, eliminating the chance of a dreaded rug pull.
All in all, Evil Pepe Coin’s strategic tokenomics and early social media support make it an intriguing project in the meme coin space – one that could be poised to rival the original Pepe.