In a slump, PEPE continues to show resilience as it brushes off its long-term support level, gaining 1.5% in the past week. However, a striking 71% drop since its all-time high of $0.00000431 in early May paints a daunting landscape for the meme token. While it’s tempting to foresee a substantial recovery on the horizon, let’s not shy away from noting the inherent lack of fundamentals that guarantee sustained growth for the coin.
After regaining a bit of its luster from a few days ago, PEPE’s indicators seem to signal a further potential ascent. Truly, every cloud has a silver lining. The Relative Strength Index for the coin has begun another uphill journey towards 70 following an overnight slump, indicating a possibility for further momentum build-up. A rising 30-day moving average that is charging distinctly towards its 200-day counterpart also offers assurance to the PEPE holders.
On the contrary, some food for thought exists in the form of recurring sudden drops due to whales cashing in on the quick gains PEPE offers, cautioning traders to execute impeccable timing with their PEPE transactions or risk considerable loss.
Stepping into a bit of a gearshift, the crypto market showcases a promising avenue, particularly for the more cautious traders, in the form of novel meme tokens like Shibie (SHIBIE). As presale tokens have displayed consistent profitability in the recent past, Shibie holds a promising chance of healthy returns, having already raised over $250,000 despite its inception merely a week ago.
This new token is quite a spectacle with its unique blend of Shiba Inu and Barbie memes which seem to draw in a broader demographic of investors. It plans to offer around 2,107,202,300 Shibie tokens in its presale, standing close to 60% of its total supply. The establishment of this positively influences its decentralized nature and aids in securing its position in the market post presale.
It’s easy to predict a possible rise for SHIBIE post its listing on trading platforms. Yet, potential investors, are reminded that the cryptoworld dances on the razor’s edge, involving high risk. Hence, all statements in this article serve purely as information and should not be considered investment guidance. All the best with your crypto ventures!
Source: Cryptonews
