Pepe Price Spikes 5% as These Traders Back a Resurgence, with Whales Also Bullish on Meme Kombat

Pepe (PEPE) is back in the news this week, with the coin’s price spiking 5% in the past 24 hours.

This surprise spike has led some traders to speculate that PEPE could be on the verge of a resurgence.

Meanwhile, large traders are turning their attention to the trending presale project Meme Kombat (MK) instead of PEPE, believing it could provide higher returns before the end of 2023.

Pepe Price Bounces Off Low as Investors Hope for Breakout

PEPE has been on a rollercoaster ride recently, with the coin’s value dropping 49% since mid-August before rising 23% in the past six days.

The PEPE price has found support around $0.00000060, representing an all-time low for the token since it’s been made available on centralized exchanges (CEXs).

Thanks to its bounce from this support zone, PEPE has emerged from the descending wedge pattern in which the price was trapped – leading some traders to forecast an extended surge for the coin.

Data from CoinMarketCap reveals that PEPE trading volume is up a whopping 105% in the past day, exceeding that of Shiba Inu (SHIB).

Most of this trading volume is coming from Binance, prompting speculation that investor sentiment around the coin could be shifting.

The pattern breakout and increased trading volume might be early indicators that the market is warming up to PEPE once more – possibly setting the stage for an exciting end to 2023.

Crypto Analysts Divided on PEPE’s Future

However, even though many optimistic traders are backing PEPE for a resurgence, the coin still suffers from an evident lack of utility.

PEPE’s recent price rise has occurred without a clear catalyst, indicating that its movements might be driven more by hype than fundamental value.

Several crypto analysts have weighed in on PEPE’s current situation, including Altcoin Sherpa, who stated there’s “high doubt this is a full reversal.”

Contrastingly, Twitter analyst Plazma noted that PEPE is breaking the nearby minor resistance level “faster, quicker, and stronger” than expected – hinting that this could be the beginning of another bull run.

The divergence of opinions among analysts highlights the uncertainty surrounding PEPE’s future.

Without a clear roadmap or utility to sustain its value, the token remains highly speculative, with price determined by market sentiment alone.

New Meme Kombat Token Gains Steam with Presale Raising Over $100k

While debate continues over the future of PEPE, the meme coin market has a new potential breakout star – Meme Kombat (MK).

This unique gaming platform, currently in its presale phase, is already generating massive buzz in the crypto world.

High-profile whales are aligning themselves with this innovative project, backing it to be the next big thing in the space, much like PEPE was earlier this year.

Meme Kombat’s primary features allow users to actively bet on “meme battles” or passively stake MK, the platform’s native token.

According to Meme Kombat’s whitepaper, by wagering on these meme battles, which feature well-known characters like DOGE, users have the opportunity to win big, while still being able to stake their tokens simultaneously.

At the time of writing, stakers can receive a passive APY of 112% – far higher than the yields offered by most crypto-staking protocols.

Although the Meme Kombat platform is still in development, the creators have launched a limited-time presale phase, allowing prospective investors to buy MK ahead of the token’s exchange listing.

Over $100,000 has been raised through this presale in its first week, with MK tokens on offer for just $1.667.

Meme Kombat’s unique setup has piqued the interest of some huge names in the crypto space, including YouTuber Joe Parys Crypto, who has an audience of 382,000+ subscribers.

In a video uploaded yesterday, Joe Parys Crypto listed Meme Kombat as one of his top 5 meme crypto coins for 2024 and beyond.

With a low funding target of $1 million, Meme Kombat appears poised for success – especially considering the support it has obtained in its early days.

Visit Meme Kombat Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.