The Pepe Coin price has experienced a 5.5% drop in the past 24 hours, falling to $0.00000137 and quickly negating the previous day’s rise to $0.00000150. While this decline seems worrisome, especially considering the meme token fell by 13% in a week and by 19% in a fortnight, the possibility of further exchange listings, such as on Coinbase or Robinhood, could revive its value.
Although Pepe Coin’s 30-day performance still makes it one of the best-performing top-100 coins, the recent slip raises questions about its potential rebound. Technical analysis suggests it’s currently oversold, with its Relative Strength Index and price dropping far below its 200-day average. However, the use of technical analysis tools for meme tokens, which lack fundamental utility, can be misleading.
The fact that Pepe Coin’s support level has shown a steep decline raises concerns about future depreciation. Previously, the token benefited from exchange listings on platforms like Binance, BitMart, KuCoin, and OKX, but these opportunities are seemingly scarce at present. Unless new listings emerge or developments similar to the Shiba Inu ecosystem occur, it’s challenging to predict if Pepe Coin will bounce back, as whales seem to have sold their shares in the past week.
In search of chances for growth, traders could focus on new meme tokens that haven’t yet benefited from FOMO (Fear of Missing Out) and significant surges. One such promising token is Wall Street Memes (WSM), which is closely tied to the r/wallstreetbets subreddit – known for its role in the Gamestop short squeeze of 2021. The WSM presale has already successfully raised over $1.1 million, increasing rapidly from $0.02560000 to $0.03370000 – a 31.6% rise.
Investors can take advantage of this potentially lucrative opportunity by connecting their wallets and using BNB, ETH, or USDT to buy into the presale. Wall Street Memes aims to create a well-distributed token, allocating 50% to its community and providing retail investors the chance to share in the probable rewards.
In summary, while the prospect of recovery for Pepe Coin remains uncertain, there are alternatives like Wall Street Memes that traders can explore to capitalize on the market’s ongoing shifts.
Source: Cryptonews
