Memecoins
PEPE Price Pump on ETH ETF Frenzy: Best Meme Coins to Buy Now
The cryptocurrency market saw a surge in prices today as positive news about potential Ethereum ETF approved hit investors. While the price of Ethereum (ETH) itself has increased by around 20% to around $3,800, some ERC-20 tokens have also experienced increases as part of the Ethereum ecosystem hype. A very successful meme coin is PEPE, which once again surpassed its all-time high (ATH).
PEPE Price Breaks ATH – Pepe Coin Price Prediction
The PEPE price has once again surpassed its all-time high a similar feat last week. It is currently trading around $0.0000127 with a market capitalization of more than $5 billion. The PEPE chart shows that this meme coin is trading in an ascending channel pattern and has just broken above the $0.000010 resistance level.
This pattern suggests that traders who believe that the price will remain within the channel can initiate trades when the price fluctuates between the channel’s trend lines. However, in the event of a pattern breakout, traders may consider opening a position when the price breaks above or below trend lines.
The Moving Average Convergence Divergence (MACD) indicator shows that the MACD line is above the MACD signal line, indicating a bullish trend. THE Relative Strength Index (RSI) on the daily chart it currently reads 82, which is considered overbought territory, suggesting that the asset may be due for a period of correction or consolidation.
A next logical price target for PEPE could be $0.000015, but we might see some correction first due to the high RSI level. Support zones closer to $0.00001 (previous resistance) and $0.0000080 could provide potential entry points for traders looking to ride the uptrend should a correction materialize.
Still confident $WIF & $PEPPER they are 2 of the best R/R tricks of this cycle.
— Miles Deutscher (@milesdeutscher) May 21, 2024
Jacob Bury, a popular analyst with nearly 40,000 YouTube subscribers, released a video today highlighting the best meme coins to buy. Among his recommendations was PEPE, citing the following factors:
- A strong bullish flag pattern indicating a potential move higher.
- All PEPE tokens are in circulation, preventing dilution.
- PEPE’s high market cap offers a 3 to 5x opportunity compared to other meme coins like Dogecoin.
Best Meme Coins to Invest in Now
Bury also highlighted Sealana, a new meme coin based on Solana currently in pre-sale phase. Sealana is described as a high-risk, high-reward meme coin based on the Solana blockchain. It has it has already raised $2.2 million during the pre-saleand the current price is $0.022 per SEAL token.
The project promotes a strong community ethic with themes of defending the rights and profits of cryptocurrencies. It is inspired by the viral character “Gamer Guy” from the TV show South Park, depicting an overweight seal obsessed with trading and finding the next big meme coin.
Another notable mention was Wiener AIdescribed as “part dog, part sausage, part AI trading,” a new meme coin with strong tokenomics and a vibrant ecosystem built on the Ethereum blockchain.
Conclusion
All in all, the cryptocurrency market is surrounded by positive sentiment currently with the potential Ethereum ETF approval, causing a rally in both Ethereum and many ERC-20 tokens, including meme coins like PEPE. Although PEPE price has broken through its all-time high, we may see a correction before reaching new highs. Additionally, new meme coins like Sealana and WienerAI are generating interest among investors looking to be among the best meme coins to invest in right now.