The recent market downturn has not been kind to #PepePepecoin (PEPE), which has suffered a 13% decline since Sunday. This unfavorable trend aligns with PEPE’s technical chart bearing witness to a stifling ceiling of local resistance from the 20DMA since July 16. Now, PEPE trades at a paltry $0.00000123, marking a 24 hour change of -1.6%.
Despite 16 days under the influence of this local resistance and a downward trending structure for 9 days now, there seems to be a glimmer of respite in PEPE’s technical indicators. For instance, the RSI has cooled significantly to an oversold signal at 34.53. This suggests the downward movement may soon see an end with enough room remaining for a price push. Yet, a minor bearish divergence showing -0.000000003 on the MACD indicates that the downtrend could manifest in the short-time frame as well.
As things stand, PEPE poses a tough risk-reward proposition for investors, with limited upside potential constrained by local resistance from the 20DMA at $0.0000015 (+22.95%). Alternatively, an eye-catching downside risk lurks down at $0.0000009 (-26.25%), insinuating a risk-reward ratio of 0.88 for PEPE investors.
In contrast to this, there’s a promising contender in the ring: Shibie. This token, an exciting crossbreed between the glamorous Shiba Inu and Hollywood sensation, Barbie, seems programmed to shake up the meme coin sphere. As the Shibie presale takes off, 60% of the supply is up for grabs at $0.000167. The seed funding round aims to raise a modest $999,999, but the immense buzz surrounding Shibie potentially means this could sell out sooner than perceived.
Touted to bring 1,000x gains, or possibly more, Shibie is set to challenge today’s brightest crypto stars. Its unique fusion between two pop culture giants; the Shiba Inu and Barbie creates an irresistible appeal. Shibie’s strategy encompasses devoting 20% of the $SHIBIE token supply to DEX liquidity and an additional 10% to centralized exchange (CEX) liquidity, ensuring smooth trading conditions right from the beginning.
In conclusion, PEPE’s future seems dim, while Shibie, backed by an aggressive marketing strategy and provisions for fluid trading conditions, might just be the next big thing.
Source: Cryptonews
