Pepe Coin Momentum Slows as Price Drops 5%, but This New Meme Coin Just Raised $1m
Release: 2023/11/02 19:01 Reading: 432
The post Pepe Coin Momentum Slows as Price Drops 5%, but This New Meme Coin Just Raised $1m appeared first on Coinpedia Fintech News
Following a substantial increase during the majority of the previous week, the value of Pepe (PEPE) has declined over the past few days and is currently being traded at approximately $0.0000011.
PEPE has been experiencing a sideways movement since Friday, which has raised questions among investors regarding whether the bullish momentum is losing strength or simply consolidating.
In contrast, the recently launched meme coin venture, Meme Kombat (MK), has successfully secured a remarkable $1 million during its presale stage and continues to garner interest from individual investors.
Recent Price Volatility Leaves PEPE Traders Pondering Token’s Next Move
Similar to numerous other meme coins, PEPE has witnessed a significant surge in investor attention, primarily due to rumors pertaining to the approval of a potential BTC ETF spot.
If approved, this ETF has the potential to attract billions of new capital into the cryptocurrency market, even though it is not directly associated with PEPE.
This would have a universal benefit for cryptocurrencies, including meme coins.
Therefore, the optimism surrounding this occurrence contributed to a significant increase in PEPE's value during the month of October, reaching a maximum of $0.00000136, representing a rise of over 100%.
Nevertheless, ever since reaching its highest point, the price of PEPE has decreased by 15%, including a recent 5% decline within the last 24 hours.
Traders are currently contemplating whether the abrupt decline in prices is simply a normal retracement following a significant surge or if it could indicate a more substantial correction.
Many PEPE holders have chosen to sell their tokens at a high price, which is not surprising considering the token's well-known tendency for extreme price fluctuations.
Nonetheless, over $104 million worth of PEPE still exchanged hands in the past 24 hours – making it the third most-traded meme coin globally.
PEPE Quietly Building Ecosystem with Token Burn & New Advisors
There are several factors that should keep PEPE holders positive, even in light of the recent decrease in price.
The token’s creators recently implemented a massive token burn of 6.9 billion PEPE, worth around $6 million at the time.
The purpose of this substantial burn is to create scarcity, thereby boosting the value of the remaining PEPE tokens in circulation.
Furthermore, the creators have enlisted a fresh team of advisors to provide guidance for the project's progression.
The project could greatly benefit from the fresh expertise and guidance provided by these advisors, potentially propelling PEPE to the next level.
Numerous investors are anticipating that this will initiate a fresh stage for PEPE, encompassing practical applications in reality and a transparent plan for the forthcoming times.
Overall, despite recent price fluctuations that may concern certain traders, PEPE is quietly making progress behind the scenes that could assist it in successfully managing future market volatility.
Meme Kombat Presale Draws Investor Attention with Unique Gaming & Staking Concept
As PEPE continues to face price volatility, a new meme coin called Meme Kombat (MK) has entered the scene and is generating buzz with its ongoing presale.
Meme Kombat merges the comical essence of memes with blockchain-powered gaming, enabling users to witness and wager on clashes among renowned mascots such as DOGE and Pepe the Frog.
The unique concept of the project has generated a significant amount of interest and excitement, leading to a presale that has already surpassed $1 million in funding.
During the presale, investors who get in early have the chance to buy MK, the native ERC-20 token of Meme Kombat, for only $0.1667 per token. This price offers a substantial discount compared to its expected listing value.
A significant portion of the 10 million MK supply, specifically 50%, has been reserved for buyers during the presale period. This has led many to anticipate substantial expansion opportunities for the currency once it becomes available on exchanges.
In addition to the previously mentioned battles, Meme Kombat incentivizes long-term holding by offering up to 112% APY staking rewards as passive income.
Purchasers of MK during the presale will have their tokens automatically staked and can withdraw them once the platform is officially launched.
Meme Kombat, a project that cleverly combines meme culture with GameFi components, appears to have great potential for substantial expansion.
The project’s Telegram community has already seen an enormous influx of new members in recent weeks, while the official Twitter account now boasts an audience of thousands.
Interested investors can buy MK tokens by linking their crypto wallet to the Meme Kombat website and using ETH or USDT.
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