Pepe has experienced a bullish wave of interest after a month of consolidation. This has led to an 8.5% pump in the last 24 hours, with analysts calling for a new local high shortly.
Meanwhile, the newly launched Meme Kombat is also gathering momentum as its presale exceeds $2.3 million.
Pepe Explodes After Pennant Flag and 200-Day EMA Breakout
After a Meteoric rise to prominence in April and May, Pepe experienced a prolonged sell-off. This was amplified by a mishap where some of its ex-team members stole $15 million from the project’s multi-signature wallet.
However, after the remaining team members rectified the woe by burning 6.9 trillion Pepe (worth $6 million) and bringing a new team of investors on board, investors began to rally behind Pepe once again.
Its price surged over 100%, climbing from under $0.00000063 in October to $0.000001338 on 10 November. However, it then experienced a lengthy consolidation phase, forming a flag pattern on its price chart.
This was brought to light on Saturday by analyst Eunice D Wong, who pointed out that Pepe was breaking out from a pennant flag and its 200-day EMA. A pennant flag is typically a consolidation phase that occurs on a trend before a continuation.
The combination of a pennant flag and a 200-day EMA breakout has fared highly bullish for Pepe.
The analyst speculated that a breakout is coming, referring to the ongoing consolidation range that Pepe has been trading in recently.
Due to the recent breakout, Pepe’s market sentiment has been massively bullish. For instance, X commentator ZAZA noted that sellers are exhausted, instructing Pepe to “Send it.” The tweet has been liked over 170 times, illustrating that the community eagerly awaits a breakout.
Meanwhile, TradingView analyst XRPFUN2023 forecasts a break above the November high, targeting $0.00000171 in the near term. The prediction features the pennant flag that Eunice D Wong pointed out.
Since the prediction, Pepe has advanced from $0.00000107 to $0.00000118.
Pepe’s breakout is undoubtedly good news for other meme coins. As we often see within this category, newer projects outperform market leaders when conditions are bullish.
With this in mind, investors should also consider another meme coin, Meme Kombat. It is a new multi-purpose token, having raised $2.3 million in its presale and received backing from top industry analysts.
New Meme Kombat Token Raises $2.3M and Offers 369% Staking APY
Meme Kombat is a compelling GambleFi utility token-cross meme coin, appealing to two prevalent cryptocurrency communities. This gives the project massive viral potential, evidenced by notable presale success.
The presale has raised over $2.3 million in two months and received unwavering support from industry analysts and leading media outlets.
Jacob Bury dubbed Meme Kombat a “10x potential meme coin”, while Crypto Gains also speculates it could 10x.
Moreover, top news websites like Cointelegraph, Crypto News, BeInCrypto, and Coinpedia have all backed it to explode.
The project enables users to gamble on AI-generated battles between meme coin characters, leveraging traditional odds mechanics for a realistic and immersive betting experience.
Users require the $MK token for staking, providing a solid demand stream that could bolster its price. However, it also offers staking, which will further increase token demand.
Presale investors can begin staking immediately and earn a 369% APY. However, they must hurry because this decreases as the staking pool grows.
Another significant benefit to Meme Kombat is its security and transparency. Unlike many other meme coins, Meme Kombat boasts a doxxed team and has recently passed a smart contract audit. This creates a degree of stability and accountability within the project, deeming it lower risk than most other new meme coins.
The current Meme Kombat price is $0.225, increasing to $0.235 in four days.
Visit Meme Kombat Presale
Source: https://coinpedia.org/press-release/pepe-price-pumps-24-hours-meme-kombat-also-sees-significant-gains/