Scrutinizing the recent market surges, one would notice an interesting performance by Pepe Coin (PEPE), which despite gaining a slight 4% within the last day, has dipped nearly 20% within the week. Looking back at its historical performance, even though it has gained 60% within the past month, it, however, continues to hold 64% below its spring peak. This trend could point towards PEPE’s failing glory, a possible terminal decline in the worth of the meme token.
Nonetheless, all hope isn’t lost for the token, as whales seem to be utilizing it for short term gains. Despite the lack of clear momentum for PEPE or any strong protection against a further plunge, some sporadic rallies may still occur. This could be a window of opportunity for retail investors who are keen on short term gains. However, following the path of the whales may not be a wise trading strategy as PEPE’s history hints at its unlikely recovery anytime soon.
Simultaneously, the crypto sphere is all set to welcome another potential trendsetter in the meme token category, the Thug Life Token(THUG). This coin, with its risque relation to gangsta rap and hip-hop culture, has effectively piqued investors’ interest by raising almost a million dollars, even before its entry into the public market.
The recent explosion in the interest in the offering, which ascended from $750,000 to nearly a million within a day, could be attributed to the rapidly approaching end of the THUG presale. Investors may be rushing to snag the token at its bare minimum price, hence the surge in the presale. Adding to its appeal is THUG’s commitment to decentralization, with 70% of its maximum supply allocated for the presale, providing assurance against dumps and sudden drops; a problem all to familiar to the current wave of meme coins.
With new coin enthusiasts still having the opportunity to join the presale, with a single THUG going for $0.0007, a considerable rise in price could be expected within weeks of listing on exchanges.
While the prospect of these meme tokens is indeed intriguing, the high-risk aspect is worth remembering. The unpredictability of crypto as an asset class demands careful and well-informed decision-making from traders. All in all, while PEPE’s glory might be waning, THUG seems to offer a fresh prospect, a potential surge on the horizon. Whether it will also suffer the same fate as its predecessors, only time can tell.
Source: Cryptonews
