Pepe Coin Price Prediction - Is it Too Late to Buy? Traders are Backing These Meme Coins Instead
Following its explosive run in May, the Pepe price dropped, reaching lows of $0.0000008212 on 15 June. However, Pepe found support and has begun to pump since.
Pepe has increased 88% from its June lows but has recently hit a resistance level and made a new lower low on the chart.
The break of the local support of $0.000000151 could indicate the price has topped and may begin to retrace. Moreover, zooming into the recent price action, we can see a “shooting star” candle formed after the lower low.
A shooting star candlestick is a bearish candlestick, which further confirms a possible price reversal. As seen on the Pepe price chart below, the price blasted through a key level of $0.00000011655, which has acted as support and resistance numerous times for Pepe.
Therefore, we will likely see a retest of the $0.00000011655 level. Still, whether Pepe can bounce or breaks to the downside remains to be seen.
Pepe has recently touched the top of the Bollinger bands on the daily chart and has since begun displaying bearish momentum. This means a move downwards is likely and could signify a move to the lows of June.
However, the $0.00000011655 level has proved a strong support zone in the past, providing Pepe with a final opportunity to bounce before heading to $0.0000008212.
If Pepe finds support at $0.00000011655, we could see a longer-term move towards $0.00000021030.
Pepe is up 8.34% in the last 24 hours and has amassed a $204 million 24-hour trading volume. This is on par with Dogecoin’s 24-hour trading volume, indicating lots of buyer and seller interest in Pepe remains.
Traders are Backing These Meme Coins Over Pepe
While Pepe’s price has reached a ceiling, traders are backing newer meme coins which have pumped recently. Here, we will look at two of the crypto meme coins that have proven immensely popular recently, having both experienced significant presale success.
Wall Street Memes Backed to be the Next Pepe After Raising $11m
New meme token Wall Street Memes has recently exceeded the $11 million mark at its presale, with its large community showing unwavering support. The project launched on 25 May and quickly rose to prominence, raising $100K within minutes of its launch.
One of the main reasons for Wall Street Memes’ explosive presale is that it already had over one million social media followers before the meme coin launched.
Wall Street Memes was inspired by the Wall Street Bets Reddit group in 2021, and the new meme coin aims to “tokenise the movement”. Initially, Wall Street Memes posted stock and crypto memes online before venturing out and launching an NFT collection - Wall St Bulls.
The Wall St Bulls NFT collection proved a hit with the community, selling out in 32 minutes. This illustrates the team's ability to generate hype and entice its community into joining its crypto projects.
Since surpassing $10 million in its presale, several traders have begun to tout Wall Street Memes as the next meme coin to explode.
Trader and YouTuber Jacob Bury covered Wall Street Memes recently, stating it has high potential and highlighting that Elon Musk has previously engaged with the project’s Twitter account.
Visit Wall Street Memes Presale
New Meme Coin Thug Life Raises $100k in Two Days as Hype Builds
Thug Life is another brand new presale meme coin that allows buyers to “thug up” on meme coin losses. By buying Thug Life, investors are joining a community of degens united by “humor, brotherhood, and the struggle of hustlin” in crypto.
Essentially, Thug Life aims to build a long-lasting community by making light of missed meme coin opportunities.
The presale has just begun for Thug Life, yet it has already started to fare as a favourite amongst the meme coin community. Despite launching two days ago, Thug Life has already raised an impressive $134K, with a presale hard cap of $2,058,000.
With a relatively small hard cap, we will likely see the Thug Life presale sell out quickly, particularly as more of the meme coin degens learn about it.
The entire Thug Life presale will be priced at $0.0007; this makes $THUG a truly community-centric token since all presale investors have the same entry price.
Consequently, Thug Life could explode following its presale because no holders will immediately dump to secure profits.
According to the Thug Life website, the project will have a market cap at launch of $2,940,000. This provides $THUG with massive growth potential. For example, even a 10X would only put it at a $29 million market cap - less than 20X smaller than Pepe’s current market cap.
