Pepe Price Up, How High Will It Go as Meme Kombat Hits $880k
Pepe (PEPE) has seen a remarkable 60% price surge over the past week, propelling it to the top spot on CoinMarketCap’s list of crypto gainers. This jump comes amid a broader market rally sparked by speculation around the approval of a spot Bitcoin ETF. With meme coin mania back in full swing, smaller projects are also benefiting significantly, including gaming crypto Meme Kombat (MK), which has now raised $880,000 in its limited-time presale event.
Pepe Soars 60% in a Week as Investors Eye Further Upside
PEPE is trading around the $0.0000012 level, having posted two bullish weekly closes in a row.
Since last Monday, PEPE has soared by 60%, marking its best week since June’s bull run.
On the daily time frame, PEPE has surged past its 50-day Exponential Moving Average (EMA), a sign that the medium-term trend has turned bullish.
PEPE has also broken through the resistance zone at $0.0000010 – a solid psychological area that had previously acted as a barrier to upward movement.
This breakthrough suggests renewed confidence among traders and could mark the onset of a rally toward July’s highs.
However, PEPE must overcome resistance at the $0.00000135 level to maintain its positive momentum.
Price tapped this area on Thursday before retracing by 18% in the following days, indicating that there’s a high volume of sell orders situated at this level.
PEPE Price Outlook Remains Bullish Thanks To Token Burn & New Advisory Team
Given PEPE’s recent bullish performance, many traders are asking just how high the meme coin can go.
Several factors will influence its trajectory, including the token’s ability to break through the previously mentioned $0.00000135 resistance level.
A strong move past this point, supported by high trading volume, could catalyze further upside.
Secondly, macroeconomic conditions and overall market sentiment for cryptocurrencies will play a role.
Currently, the Crypto Fear & Greed Index is sitting at 68 – firmly in “Greed” territory.
If this bullish sentiment continues, it could serve as the tailwind PEPE needs to climb even higher in the coming weeks.
Finally, the recent token burn of 6.9 trillion PEPE, amounting to $5.5 million, has significantly impacted the coin’s market dynamics.
This has coincided with the introduction of a new advisory team, which marks a forward-looking shift in PEPE’s strategy.
These factors combine to paint a rosy picture for PEPE’s future, with a price target of $0.0000020 before the end of 2023 not out of the question.
Should PEPE return to this level, it would represent a further 67% rise from today’s price.
Meme Kombat Presale Generates Excitement & Attracts $880k as Launch Nears
Alongside PEPE, the newly launched meme coin Meme Kombat (MK) is also generating buzz as the next big thing in the space.
MK combines the worlds of memes and battle arenas, allowing players to bet on AI-powered fights between famous meme mascots.
The outcomes of these battles will be determined on the Ethereum blockchain – ensuring provably fair results.
Meme Kombat’s team has already raised over $880,000 in its ongoing presale as hype builds ahead of the platform’s official launch.
Investors can buy MK tokens through the presale and obtain staking rewards of 112% annual percentage yield (APY) – with 30% of the total token supply set aside to fund these rewards.
An additional 10% of the token supply is allocated for providing DEX liquidity, a crucial factor for new tokens to ensure smooth trading and price stability upon exchange listings.
Influential crypto analysts like Michael Wrubel are bullish on MK, pointing to its dual-earning approach as a key differentiator that allows investors to accumulate tokens via both staking and betting.
Ultimately, all signs point to an exciting trajectory for Meme Kombat in the remaining weeks of 2023 and beyond.
Prospective investors can buy MK tokens through the presale for $0.1667 – although this price will only be available for two more days before increasing.