Going through a difficult third quarter, it seemed like PEPE price had a strong recovery from its lowest level. But the coin's upward momentum failed to hold and fell sharply shortly after hitting resistance around the $0.00000082 area.
The project has been a source of controversy over the past weeks because some of its former members allegedly stole $15 million from the project's Multisignature wallet. This event caused a strong sell-off that took PEPE price to a low of $0.0000006125 in mid-September.
PEPE price has been on a steady rise since then, hovering around $0.0000082 – representing a 39% increase from its lowest point, before the current sharp decline. Currently, PEPE price is trading around the $0.0000073 mark at the time of writing and is forecast to fall even deeper.
Meanwhile, new P2E Staking coin Meme Kombat is showing strong momentum in its current presale event and has raised over $220k in its first week.
The project's development team recently announced that it has eliminated those involved in the 16 trillion Token theft, helping to bolster investor confidence and fuel the coin's recent price surge.
Meanwhile, a recent Matrixport report suggested that Bitcoin price could rise to $37k by October as the cryptocurrency market has previously shown a strong performance in the fourth quarter.
The bullish sentiment surrounding Bitcoin may be the main reason for PEPE 's recent success as altcoins often follow Bitcoin's trend.
However, PEPE coin's price rally did not last long after it hit resistance around the 0.00000082 mark. Besides, during the daily time frame, the price of this coin has also touched the EMA 50.
And it is not surprising that immediately after that, the price of this coin had a sharp decline, down to the price of 0.0000006846 dollars and currently PEPE price today is fluctuating around the 0.0000073 dollar mark. .
Meanwhile, Bitcoin price hit its highest price since August around the $28,400 mark and then the coin price also corrected and experienced a decline of 3.5%. Currently, BTC price is fluctuating around the price level of 27,500, and it is still above the 20 and 50 EMA lines of the 4-hour time frame and the daily time frame.
On the contrary, PEPE 's decline took the coin's price in the 4-hour time frame below the EMA 20 and EMA 50, signaling a decline is still possible for this coin.
Although PEPE has brought huge profits to traders in the past, it is difficult to make the decision to invest in PEPE coin at the present time when the selling pressure around this meme coin is still quite large.
On the other hand, the emerging Meme Kombat project is showing a boom after launching just a few days ago. It has become popular with the community and is even appreciated by some of the top crypto analysts.
Meme Kombat is a new Play-to-Earn meme coin that allows investors to bet on the outcome of battles between infamous meme characters. This project is currently in a pre-sale event and has raised $220k in just over a week.
Since its launch, it has become a hot topic in the meme coin community, as investors and analysts are attracted to its Token Stake mechanism with annual percentage yield (APY). up to 112% and unique amenities.
Among these people, famous YouTube analyst Michael Wrubel (with more than 300 thousand subscribers) gave information about the project and hinted that it could explode in value after launching on the exchange. exchanges.
The Token Stake mechanism brings dual benefits. First, it encourages community participation and engagement. However, another advantage is that it significantly strengthens the Token price through supply and demand dynamics.
Along with removing the majority of the Token supply $MK from the market, the Token Stake mechanism will boost demand as investors seek lucrative Staking rewards.
Users must also Stake Token to bet on battles on the platform. Players can bet on multiple game modes, including player versus player and player versus player games. The platform also enables a mode called Side Events Betting – where users can bet on dynamic events such as first moves or specific outcomes.
Ultimately, its strong supply and demand mechanism combined with the unique use case and appeal of the meme coin, suggests that $MK could explode after its exchange launch. However, with the presale event selling out quickly, potential investors should act now or risk missing out.
Disclaimer: This is an advertising article in the Press Release section, not investment advice. You need to research carefully before acting, we are not responsible for your investment decisions.
