pepe Price Soars 5% as $900 Million Flows In – Is a $1 Target Realistic?
The pepe (pepe) price has surged 5% in the last 24 hours, according to data from CoinMarketCap, as trading volumes increase and the overall cryptocurrency market sees a rally.
The pepe price is currently hovering just below $0.0000078, with trading volumes reaching almost $800 million today, as reported by Yahoo Finance data. By the end of Tuesday's trading session, the volume could potentially double Monday's figure of $490 million.
Despite the increase in trading activity, the bulls have not completely regained control of the market. Resistance at the 200-day moving average of $0.0000084 prevented the pepe price from making further gains earlier on Tuesday.
Price Outlook
The rejection at the 200DMA level may indicate a potential shorter rebound from last week's lows. The pepe price remains in a downtrend as long as it stays below key moving averages.
Investors holding pepe are now exploring alternative investment opportunities that offer better chances for rapid gains. One such strategy is participating in meme coin presales, which have several advantages over immediate launches on decentralized exchanges (DEX).
meme coin presales provide time for hype to build around a new project, and funds raised can be used for marketing, increasing the chances of the coin going viral. Analysts at Cryptonews.com closely monitor the crypto presale market and have highlighted some top picks.
In meme coin communities, there is a strong focus on achieving price targets by eliminating zeros. Dogecoin investors, for example, are eagerly awaiting the coin to hit $1. The question then arises: could the pepe price also reach $1 in the future?
Given pepe's total token supply of 420 trillion, reaching a price of $1 would translate to a market cap of $420 trillion. This is significantly higher than bitcoin's current market cap of nearly $1.2 trillion, making it an unlikely scenario without changes to the tokenomics.
However, if the pepe community decides to adjust the token supply by removing zeros artificially, reaching $1 becomes more feasible.
pepe Alternative to Consider
One intriguing meme coin presale that Cryptonews.com analysts favor is pepe Unchained (PEPU). This new meme coin is an ethereum layer-2 protocol focused on meme coins and is currently in the presale stage.
crypto presale expert ClayBro believes that pepe Unchained has the potential to outperform the pepe price significantly. The coin's unique features and focus on meme coins could make it a promising investment opportunity for those looking to capitalize on the meme coin craze.
Interested investors can find more information and participate in the presale of pepe Unchained here.
