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As of 1 a.m. Eastern Standard Time, the Pepe exchange rate soared by 61%.
Meme coin prices are surging, and this is due to the optimism prevailing on the Bitcoin market (BTC). Sector tokens are influenced by BTC. Strength breeds strength and this has enabled PEPE’s new ATH.
Strength breeds strength in memecoins, more so than in most other sectors.
— K A L E O (@CryptoKaleo) March 4, 2024
Pepe, the most popular meme coin in the category, is the leader of the group. Its peers are not far behind. Dogecoin, Shiba Inu, and Bonk are all on the rise, with gains of 20%, 26% and 45%, respectively. Floki Inu is up by 25%. Dogwifhat has a 2% drop.
The memecoin market is booming!
Today, while most alts are flat to down, we’re up! pic.twitter.com/loPciVODs7
— borovik.eth (@3orovik) March 4, 2024
It is possible that the drop in WIF’s price was caused by a whale who bought 750,000 Solana tokens at the highest prices. A recent report from Lookonchain, an independent blockchain researcher and data provider, confirms this.
The trader who only spent 5.288 $SOLSpend $310 to purchase 2.58M $WIF (currently $4M) has started to sell $WIF Profits are made at the highest prices.
He sold 750K $WIF 936 $SOL(1.21M) $1.61 at 1.83M $WIF ($2.91M) left.
Profit is $4.12M ($13,307x).https://t.co/Fc8EWZ673m pic.twitter.com/elFRilLtNd
— Lookonchain (@lookonchain) March 4, 2024
CoinMarketCap says that meme coins’ market capitalization has also surged, with a 20% increase in the last 24 hours to $20.7 Billion. data shows. Even emerging sectors such as DeFi and exchange co-horts have been surpassed by the sector.
PEPE leads Meme Coins as the Biggest Gainer in Pepe Price Outlook
Pepe is now trading at $0.00000679 and has reached a new intra-day record of $0.00000679. The market is expected to continue rising as it remains above the midpoint. It is because as of the publication time, all technical indicators were bullish.
The Relative Strength Index, or RSI, indicates a steadily increasing momentum despite PEPE’s massive overbought condition. The RSI is at 91. Well Wilder says that a stock is ready to be sold once the RSI falls below 70.
The market is at high risk for a correction, so traders who are looking to open new trades should exercise caution.
Despite this, bulls remain a dominant force in the PEPE Market, as evidenced by the large volume of histogram green bars both on the Awesome oscillator (AO) and the Moving Average Convergence Differene (MACD). The MACD is well above the signal line, indicating a bullish cycle that’s strengthening. Pepe’s price could be pushed past the $0.00000679 high by increased buying pressure, creating a new record. In a very bullish case the frog token could hit the $0.00000800 level psychologically, almost 20% above the current levels.
TradingView: PEPE/USDT 1-day chart
Comparative Case
In the opposite scenario, if profits are taken, the Pepe could lose their gains, possibly retesting the $0.00000439 price level.
Consider Smog, an altcoin based on Solana that has risen 121% in one month. In light of the possibility that this may be the next The meme coin that promises the biggest airdrop ever, while experts predict it will 1000x by 2024.
Smog has been ranked as one of the most dangerous pollutants by some analysts best meme coins to invest in with potential for exponential gainsSome say that it is the most popular of all the best penny crypto investments.
The Alternative to PEPE
Smog token It is predicted to surpass the Solana meme coin titans BONK MYRO WIF and WIF. “One meme coin to rule them all” Its slogan is “Standard of excellence”
One can be a part of the other. #Memecoin The one rule that rules them all! 🚀
Get ready for the best #Airdrop History is distributed on #Solana. 💰
Join us #SMOG Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024
Smog, a meme coin launched on Jupiter DEX in February 2007, has attracted a lot of attention from the meme coin community.
🚨 $SMOG AIRDROP LIVE 🚨
One memecoin will rule them all. 🐉
🌐 Cross platform Community 66K
👥 28.8K Holders
💰 $40.6M in MC
✅ 600K Quests completedYou in, anon? 📈👀 pic.twitter.com/Idhi8UHlE6
— Almighty (@Almighty_Gives) February 27, 2024
Smog set out to revolutionize the meme coin arena with its ambitious and rewarding airdrop initiative, touted as the ‘greatest airdrop of all time.’
This initiative is one of the biggest in the world, as it involves the distribution to $SMOG owners of 490,000,000 tokens. airdrops on Solana‘s platform.
Join us #SMOG Community on #Zealy You can earn more points by increasing your score $SMOG #Airdrop. 🐲
Complete quests for extra points! 📊
Keep an eye out for future announcements. 📢🔗https://t.co/3EQxvQwsw3#CryptoCommunity #Altcoins #Memecoins #Binance #Crypto
— SMOG (@SMOGToken) February 21, 2024
Smog Zealy Campaign
Users can also take part in the Zealy campaign to increase their airdrop point total by completing various tasks. Smog on X Social media engagement is key to the success of this campaign.
As users try to collect as many airdrops points as possible, the excitement surrounding the Zealy Campaign has increased following the announcement that more than 800,000 quests had been completed.
Smog’s upward movement has been extended to other chains by a Wormhole-bridge, which allows Ethereum users to reap the benefits.
On both chains, $SMOG is now available. The project’s site offers a 10% discount on token purchases. Tokens can also be purchased on Jupiter DEX with $SOL.
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“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: insidebitcoins.com