Top meme coin performer of 2023, Pepe, has seen a huge 180% rally this week, spurring even further interest in meme coins across the board.
This article will provide an analysis of PEPE’s current price trends and look to see whether a newer meme coin, SMOG, represents a more promising investment opportunity at this time.
Bullish price pumps for Pepe come as Bitcoin hammers back-up above $60k for the first-time in two years, in a major development that has catalyzed a PEPE-led +24.55% revival in the meme coin market cap.
This high timeframe breakout is a gift to anyone who did not bottom fish $PEPE
Price is out of balance away from the longest term volume levels.
Setups like this tend to run hard. Stay on the weekly and monthly chart. pic.twitter.com/O9xMKLPy6z
— HORSE (@TheFlowHorse) February 27, 2024
Crypto market sentiment has shifted into a bullish mood, with prominent traders highlighting the long-time frame recovery as the start of a potential skyrocket rally.
PEPE Price Analysis: As Pepecoin Soars Back Into The Spotlight – Could PEPE Rally Mark Start of Skyrocket?
As price action falls away in a small localized retracement move, PEPE is currently trading at a market price of $0.00000296 (representing a 24-hour change of -7.2%).
The downside move come after PEPE hammered 5 days of consecutive green candles, in an upside climb that ultimately saw PEPE price top out around $0.0000036 (an incredible +213% gain).
Moving average support from the 20 DMA (now sat at $0.00000148) set the stage for the huge pump, following more than a week of well-defended consolidation.
Reclamation of the 20 DMA on February 10 was critical in poising the price for the major move, ending more than 2 months of capstoned price action from 20 DMA resistance.
Some cause for concern emerges in the RSI indicator, which has over-heated to a severe degree amid the huge rally, now standing at a bearish 83.96 – suggesting an imminent need for retracement to lower support.
However, this meets with some contention from the MACD, which reflects the sustained upside pressure with a reading at 0.0000000021 (minor bullish divergence).
In the event of a retracement move, lower supports are available to PEPE at $0.00000266 and $0.00000214.
Overall, PEPE price analysis depicts the tail-end of an impressive upside move, with Pepecoin now entering a retracement and consolidation phase ahead of the next leg-up.
To the upside, PEPE price remains targeting the all-time high at $0.00000439 (a potential +46.33%).
While downside risk from here could see PEPE price return to the lower support at $0.00000266 (a possible -11.33%).
Consequently, PEPE price analysis reveals a short-time frame risk: reward ratio of 4.09, a good entry, yet characterized by volatility and retracement risk in the near future.
But while those with high-risk tolerance might be allured by the potential, the significant retracement risk is driving smart money investors to the SMOG airdrop.
Dive Into the Viral Sensation: SMOG Token’s Electrifying Journey Awaits
In the ever-evolving Solana ecosystem, a new challenger emerges, poised to dethrone the reigning meme coin monarchs.
Enter SMOG Token, the defiant newcomer with a mission to ignite the crypto world with its groundbreaking airdrop campaign.
$SMOG is here to redefine the game with its bold claim: “No meme coin can withstand the fiery onslaught of SMOG.”
At the heart of its strategy? An exclusive entry into ‘The Dragon’s Court’—a crypto community set on achieving viral fame unlike any other.
Unleashing Viral Fervour In The Crypto Market: The $SMOG Airdrop Phenomenon
$SMOG isn’t just another token; it’s a ticket to an engaging, interactive world of continuous airdrop campaigns designed to captivate and reward.
Ownership of $SMOG is your key to earning coveted airdrop points, with the thrill of mystery surrounding the exact rewards and campaign details yet to unfold.
But it doesn’t end there – holding $SMOG entitles you to a share of the community bounty, further sweetening the pot for those invested in the journey.
SMOG Airdrops: Strategic Blueprint for Unmatched Impact
The ambition of the SMOG project is crystal clear, with a staggering 50% of the token supply dedicated to marketing endeavors aimed at catapulting the project to viral status.
An additional 35% is reserved for future airdrop rewards, promising an enticing array of incentives for participants.
With a keen eye on reducing the circulating supply, SMOG is set to outshine predecessors like BONK, which itself boasts an impressive +862% YTD gain despite market fluctuations.
Venturing into The Dragon’s Lair: SMOG’s Roadmap
What lies ahead for SMOG? A meticulously crafted roadmap unveils a series of exhilarating milestones, including the launch of a staking feature to further enrich the airdrop experience.
The roadmap teases the introduction of a burn mechanism and multiple airdrop events, ensuring the community’s engagement and anticipation remain at an all-time high.
The quest to assemble over 10,000 ‘Loyal Chosen’ members adds an element of exclusivity, with enhanced rewards for those who dare pledge their allegiance to the SMOG realm through unique community initiation rituals.
The $SMOG Token: Your Gateway to the SMOG Kingdom
Eager to join the ranks and partake in the SMOG airdrop saga?
Arm yourself with a Solana-compatible wallet, such as Phantom, and prepare to swap your SOL, USDT, or BONK tokens for SMOG via the Jupiter DEX aggregator or Birdeye.
Enhance your chances of becoming one of the ‘Loyal Chosen’ by diving into community tasks on Zealy, and ensure you’re always in the loop by following the Smog community on X (Twitter), Discord, and Telegram to stay tuned with the latest news and updates.
For a deeper dive into the project’s vision and mechanics, the Lite Paper awaits your perusal.
Forget Pepecoin: Embark on the SMOG Adventure Today
The stage is set, and the SMOG token beckons you to be part of its audacious journey to the apex of the meme coin hierarchy.
Are you ready to explore the vast potential of SMOG and seize the opportunities it presents?
The adventure begins now — buy SMOG and join the movement poised to shake the foundations of the Solana ecosystem.
The post Meme Coin Rally Sees PEPE Price Jump 180% in 7 Days as Another Coin Prepares for Massive Airdrop appeared first on Cryptonews.
#IndustryTalk #Memecoin #Pepe #PEPEPrice [Source: CryptoNews]