Contrary to the widespread sluggishness in the crypto market, Pepe coin is displaying a strong bullish stance. The Pepe price has climbed close to 5% over the past 24 hours, posting an impressive 22% gain in the weekly timeframe.
Pepe is currently outperforming other major crypto assets as Bitcoin continues to hover around the $29,300 price mark. Even major meme coins like Dogecoin and Shiba Inu have buckled under the widespread selling pressure and are seeing a strong correction. However, experts are backing Pepe to continue its bullish momentum over the coming days.
Several other meme coins are also showing bullish growth, one being Wall Street Memes, which is closing in on the $24 million mark in its ongoing presale.
Pepe Coin Surges Despite Bearish Market Outlook – Will It Reclaim $1 Billion Market Cap?
Pepe coin is back to its bullish ways and is providing much-needed volatility in a rather lackadaisical crypto market. The token has recouped some of its losses over the past month and is now trading near the $0.0000014 price level after a staggering 22% pump this week.
Pepe appears primed for another bullish wave as TradingView gives it a Buy signal in the daily time frame, which improves to a Strong Buy when considering the most important moving average indicators.
The token can see another rally if it manages to breach the 50-day Simple Moving Average and 100-day Exponential Moving Average, both currently priced at $0.00000144. The 100-day Simple Moving Average at $0.00000143 is also in sight.
Experts are also optimistic about the token’s prospects – renowned analyst @CryptoKaleo, who has close to 600k followers on Twitter, believes that Pepe is set to bounce back and reclaim the $1 Billion market cap following a crucial High Time Frame breakout. Its current market capitalisation is hovering near the $522 million mark.
@CryptoCurb is even more bullish on Pepe and believes that the meme coin can climb as high as $0.000002 before facing any major resistance.
Pepe coin continues to get strong support from big-money investors – one such whale brought $1.61 Million worth of $PEPE over this past week. Data from Into The Block platform reveals that nearly 40% of the meme coin’s token supply is currently held by whales.
After all, investors have been frustrated by the lack of any meaningful upside in the crypto market, with Bitcoin’s volatility nearing all-time low levels. However, on-chain data firm Santiment recently reported that Pepe has decoupled from BTC over the past week, a trend that can increase its popularity amongst dissatisfied investors.
Pepe supporters are also pushing Coinbase to list the meme coin on its platform. Coinbase’s new Base blockchain failed to achieve an impressive start after its launch this week and many believe that listing $PEPE could be a mutually beneficial move.
Is Wall Street Memes The Next Pepe? Presale Nears the $24 Million Milestone
Pepe’s 10,000% all-time rally remains one of the biggest successes of the meme coin market, with new tokens looking to replicate its success.
Few projects have garnered as much hype as the Wall Street Memes token, which has raised close to $24 million in its presale in less than 3 months, showing huge potential.
Similar to Pepe, the token is becoming a top choice for whales – one such investor recently purchased over $1 million worth of $WSM tokens.
The excitement and buzz surrounding the token continue to reach new heights, thanks to its ties to the legendary Wall Street Bets community that inspired the historic GameStop short squeeze in 2021.
The Wall Street Meme group has now become the internet’s go-to source for edgy and hilarious memes, farming over 40 million impressions monthly across its social media. Even Elon Musk has interacted with its Twitter account on multiple occasions.
The developer team behind the $WSM token also has proven experience in the Web3 space – its highly-anticipated Wall St Bulls NFT collection sold out in just 32 minutes, netting a cool $2.5 million in profits.
The Wall Street Memes token is aiming to replicate Pepe by targeting $1 billion market capitalisation after launch. Investors looking to take advantage of this explosive price action can acquire the token by swapping ETH, USDT or BNB in exchange for it.
Visit Wall Street Memes Presale