The value of the main meme coin Pepe ($PEPE), fell by practically 4% yesterday – taking the coin’s worth decline to 17% over the previous 5 days.
This downturn signifies that final Thursday’s shock beneficial properties have been all however erased, with the bulls now taking management.
Nonetheless, Pepe’s downturn isn’t dampening the hype round Evil Pepe Coin ($EVILPEPE), which has simply launched an eagerly-anticipated presale occasion for early buyers.
$PEPE Plummets as Worth Rejection Spells Hassle
Presently, $PEPE is buying and selling at round $0.00000155 per token, exhibiting declines in 3 out of the final 5 days.
This bearish momentum has adopted $PEPE’s rejection of the resistance zone situated at $0.00000190 final Friday – a zone that was additionally rejected aggressively two weeks prior.
Worth is now trapped in a wide variety between $0.00000143 and $0.00000190, with bulls dropping management of the token’s value actions.
A break above the close by resistance zone could be essential for $PEPE to regain upside momentum within the close to time period – however this seems unlikely based mostly on the previous week’s occasions.
Additional dampening enthusiasm for a $PEPE comeback is that value has dipped beneath the 20-day and 50-day Exponential Shifting Averages (EMAs) on the every day chart.
This means a weakening pattern and raises considerations concerning the potential for additional downward stress.
Optimistic Pepe Momentum is Brief-Lived as Bears Regain Management
Given the current wave of bearish momentum, it seems that final Thursday’s pump was solely momentary and nothing extra.
The value pump was sparked by Ripple’s large win in its ongoing authorized battle with the SEC – a victory that prompted a notable uptick in crypto costs throughout the board.
Sadly, $PEPE’s technicals counsel that the pump was not sustainable, because the token has failed to take care of its upward trajectory.
In accordance with CoinMarketCap, $PEPE buying and selling quantity over the previous 24 hours has dipped by 10%, whereas the full variety of “whale” holders has decreased barely.
These metrics replicate the waning curiosity in $PEPE, additional contributing to the bearish sentiment.
Thus, for $PEPE to stage a comeback, it will require a big constructive catalyst, akin to saying a brand new partnership or introducing distinctive use instances.
Sadly, such catalysts haven’t occurred but – leaving $PEPE’s potential comeback on shaky floor within the quick time period.
Which New Meme Tokens Look Primed for Worth Pump?
Whereas $PEPE falters, a brand new meme token is rising that might be poised for large beneficial properties.
Evil Pepe Coin, which simply launched its presale part, places a rebellious twist on the everyday meme coin system – and one that might resonate in right now’s market.
Evil Pepe Coin Launches Presale & Seeks Meme Coin Market Domination
Evil Pepe Coin ($EVILPEPE) is a brand-new undertaking that seeks to dethrone $PEPE and make its mark on the meme coin area.
Having simply launched its public presale part, Evil Pepe Coin provides a ground-floor alternative for meme coin lovers to purchase in at a gorgeous value of simply $0.000333.
Evil Pepe Coin’s crew describes the coin as “unapologetic and audacious” – leveraging edgy branding and a insurgent ethos that helps it stand out within the saturated crypto market.
The timing of $EVILPEPE’s launch couldn’t be higher, because it seems to be primed to soak up curiosity from upset $PEPE holders in search of the following scorching meme coin.
Early members of the Evil Pepe Coin Telegram community consider that if the coin can seize even a fraction of $PEPE’s hype, huge beneficial properties might be in retailer as soon as it makes its open market debut.
One other issue taking part in into the rising hype round $EVILPEPE is that 90% of the full token provide is reserved for presale buyers.
Moreover, 10% of the token provide might be used for DEX liquidity – with the liquidity pool locked for one month after the coin’s alternate debut.
This helps guarantee buyers keep away from the “rug pulls” which have change into all too frequent within the meme coin area.
With YouTube analyst Jacob Bury already speculating that $EVILPEPE might be the “subsequent Pepe coin,” all eyes are on this rising meme token as its presale part begins in earnest.
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