Memecoins
2 Meme Coins to Buy as Pepe Coin Sparks a 100x Rise in 2024
Meme coins are breathing life into the extremely mundane cryptocurrency market. PEPPERa leading token in this category of cryptocurrencies, is riding the rocket to the moon, exploding to a new all-time high last Tuesday.
THE Pepe Coin price The analysis reveals that the token has the potential to sustain the uptrend to at least $0.000013, although it reached a new all-time high of $0.00001146 before turning back to $0.00001050.
Why meme coins are gathering
A particular bullish wave is pushing prices in the meme coin segment. Select meme coins are in green, boasting double-digit gains, including Pepe Coin with its 11.6% increase in 24 hours.
Pepe’s recovery in value has cumulatively increased the 30-day surge to 106%, as well as a 31% increase in one week and a 60% increase in two weeks.
Other meme coins shining on Tuesday are Floki MEME BOOK, Popcat, Abu Apustaja, Mog Coin and more.
The slow price movement among major cryptocurrencies, including Bitcoin and Ethereum, has likely prompted a surge in the meme coin frenzy. With Bitcoin Highly volatile digital assets, trading in a tight range between $60,000 and $64,000, attract investors looking for short-term gains.
Pepe Coin Price Analysis: How Much PEPE Can Reach in May
Pepe Coin is using the momentum following the breakout of an inverse head and shoulders pattern. As discussed on Monday, this pattern introduced a 50% target near $0.000013.
Supporting the uptrend is a buy signal from the Moving Average Convergence Divergence (MACD) indicator. As long as the blue line remains above the signal line, the path of least resistance will remain upwards while the rising green histograms atop the neutral area signal a continued uptrend.
Pepe Coin Price Chart | Tradingview
Pepe Coin is trading above all three major bull market indicators, starting from the 200-day exponential moving average (EMA), the 50-day EMA and the 20-day EMA (the purple, red and blue lines superimposed on the graph).
A daily close above the $0.00001 support could affirm the uptrend, allowing traders to look at a move to $0.000013 and $0.0001 in the long term.
2 meme coins to buy during Pepe Coin rallies
Investors who sit back and wonder if the Pepe gravy train has left the station may want to consider other potential meme coins that will likely offer better returns later in the year.
Solana meme coins like dogwifhat and Bonk are the most potential candidates for a meme coin wallet. After a large rally in the first quarter, these two coins are trading at a discount of 10% and 5.8% respectively, which represents the weekly correction amount.
Dogwifhat also lost 5.4% of its value in 24 hours to $2.92. However, its potential is reflected in an 18% increase in two weeks, followed by another 8% in 30 days.
WIFE stands out with a market capitalization of nearly $3 billion and a trading volume of $880 million, suggesting that the token is highly liquid. It also reached a record high of $4.83 on March 31 and was therefore, in trading terms, 39% below this milestone.
Bonk, on the other hand, trades at $0.00002351 at the time of writing, down 48% from its ATH of $0.00004547, on March 4. It has a market value of $1.56 billion and ranks 61st among other cryptocurrencies and 6th among all other memes. coins.
Bottom line
Meme coins offer a convenient entry into the cryptocurrency market. Investors can hold hundreds if not millions of tokens with the potential to return 100x gains in the 2024 bull run.
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