The intriguing dynamics of the Pepe Coin have seen a rather split performance over the past month, up an impressive 65% to $0.00000155, but interestingly, enough, down 64% from its May high. Although these statistics paint a slightly ambiguous picture for PEPE, the altcoin has begun to pick up the pace again. The presence of larger investors, the ‘whales’ of the crypto world, suggests there could well be opportunities for further rallies.
On the flip side, PEPE does face some challenges. The meme token’s 30-day moving average, at present, is in a nosedive towards its 200-day average, hinting at a possible dip before a recovery phase. Even the relative strength index of PEPE is slipping, possibly requiring a further fall to the vicinity of 30 before a solid rebound.
In the meantime, PEPE’s support level has risen recently, which indicates that the token might need to dip a bit more before traversing a consistent upward path. Despite lacking substantial fundamentals, that elusive charm of this token continues to keep large investors interested, prompting intermittent market surges.
Despite the not-too-bright outlook and the possibility of not surpassing May’s all-time high soon, PEPE forecasts suggest a rise to $0.00000180 in the next few weeks, leading to a potential increase to $0.0000020 in the months following. However, given the uncertainty of this token, traders might be better off exploring newer altcoins.
Among these emerging tokens, one that has been making headlines is the presale coin, particularly, BTC20. This new ERC-20 token provides an Ethereum-based version of Bitcoin. However, it comes with an exciting twist – the ability to earn passive income from staking.
BTC20 boasts a hard cap of 21 million tokens, parallel to the legendary Bitcoin, which makes it deflationary and subsequently, primed for long-term price appreciation. Already, their presale of 6.05 million BTC20 at a fixed price of $1 has raised over $125,000 in a single day. This whirlwind success goes to show the growing interest and potential for up-and-coming tokens like BTC20.
Please bear in mind, entering the crypto universe is not unlike stepping into high-risk territory. This information is purely educational and not investment advice. Always remember that it is possible to lose your capital in the realm of crypto. Stay educated and act wisely.
Source: Cryptonews
