Pepe ($PEPE), the meme coin that openly declares it has "no intrinsic value," is still making waves in the cryptocurrency market and considered the best crypto to buy now by many traders and long term investors alike.
Launched in 2023, riding the coattails of the meteoric success of fellow meme coins like Dogecoin ($DOGE) and Shiba Inu ($SHIB), Pepe has quickly become a darling among meme coin traders, despite its self-proclaimed lack of inherent value.
According to CoinMarketCap, $PEPE has seen a meteoric rise in 2024, surging 1362% year-over-year.
Currently trading at $0.0000164, the meme coin boasts a market capitalization of $6.83 billion, a 1035% increase from its January 2024 valuation of approximately $591 million.
Ranked 26th in market capitalization, Pepe sits ahead of established DeFi protocols such as Aave, Near Protocol, and Ethena USDe, a synthetic dollar protocol built on Ethereum, and is among the best cryptos in the meme coin space — currently ranked 4th, after the emergence of Donald Trump’s Official Trump (TRUMP), which quickly took the number three spot.
The Pepe derivatives market is currently experiencing a surge in activity. Trading volume has skyrocketed by almost 60% in the past 24 hours, reaching $51.81 billion and indicating heightened interest from traders.
This surge is accompanied by an over 5% increase in open interest (OI) to $481.57 million, suggesting that traders are holding onto their positions, anticipating further price movements.
However, despite this heightened activity, a slight bearish undercurrent is evident. The 24-hour long/short ratio stands at 0.9242, indicating a slight dominance of short positions. This bearish bias is further observed on exchanges like Binance, where the long/short ratio for $PEPE/USDT also stands at 0.9242.
Conversely, OKX exhibits a more bullish sentiment with a long/short ratio of 3.24.
Crypto X is abuzz with bullish predictions for $PEPE.
Crypto trader @Chandler points out in his recent X post from Jan. 20 a classic bullish divergence on the 4-hour chart. While the price forms lower lows, the Relative Strength Index (RSI) records higher lows. This suggests a potential shift in momentum, hinting at an imminent bullish reversal.
Furthermore, @Chandler emphasizes key technical indicators like higher lows and accumulation above the previous all-time high (ATH). He draws a parallel to Bitcoin's historical price surge, suggesting a similar breakout could be in store for $PEPE.
However, the Gaussian Channel has turned red, signaling a possible price correction. This correction could see the RSI touch its lower boundary before a significant upward move.
Despite the potential correction, the overall sentiment for $PEPE remains bullish.
Pepe token is currently trading within a falling wedge pattern. According to another trading analyst, @MichaelXBT, a decisive break above the yellow trendline, followed by a breakout of the wedge resistance at $0.00002, would be a strong bullish signal, potentially triggering a rally towards new all-time highs.
The original Pepe meme has taken the internet by storm, and now, an exciting spinoff is infiltrating the crypto world — Wall Street Pepe ($WEPE).
This innovative project has captivated the crypto community with over $53 million raised in its presale to date, combining the viral appeal of Pepe the Frog with a robust trading community.
Wall Street Pepe aims to go beyond a simple meme coin by offering a comprehensive platform for traders. This includes exclusive market analysis, alpha tips, and trading signals, fostering a community-driven approach to trading.
By providing real utility and engaging its user base, Wall Street Pepe seeks to build a sustainable and thriving ecosystem. This focus on utility sets it apart from many other meme coins that offer little more than speculative value.
Wall Street Pepe has a well-defined roadmap that outlines its goals for the future. The project has successfully completed its initial presale, raising significant funds through a combination of strong marketing and community engagement. The next phase will see the official launch of $WEPE and its listing on decentralized exchanges (DEXs), making it accessible to a wider audience. In the long term, the project aims to become a go-to platform for traders seeking exclusive market insights and rewards.
The $WEPE presale is quickly coming to an end, but interested investors still have the opportunity to participate at the current rate of $0.0003665 for 1 $WEPE.
The purchase process is simple. Connect your wallet to the official website and invest using ETH, USDT or BNB.
Whether WEPE is the best crypto to buy now remains to be seen. However, the rapid pace at which its presale is selling out, fueled by both whale and retail investor interest, could bode well for its upcoming exchange listings.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.