A brief burst of optimism circulated in the Pepe community last week after its price hinted at a downward trend reversal.
However, he started to collapse again. This comes after weeks of selling pressure that pushed the price -85% off its all-time high (ATH), currently trading at $0.0000006359.
With this in mind, traders opt for more promising projects with more notable potential. One of them is Meme Kombat, which has surpassed $450,000 in just over two weeks of pre-sale.
Pepe Coin Continues to Fall Amid Further Bearish Sentiment and Declining Volume
Recent geopolitical unrest in the Middle East has led crypto markets to a significant decline. volatility over the last few days. However, Pepe, alongside XRP, is one of the most affected tokens.
Although the reasoning behind abandoning XRP remains unclear, Pepe faced several fundamental issues that quickly diminished interest and confidence in his project.
Pepe is currently down 11.06% over the past seven days, trading at $0.0000006359 with a market cap of $248 million. However, its 24-hour trading volume is flowing even faster than its price, at just $57 million and down 15% in the last 24 hours.
Unfortunately, Pepe is at the center of a money laundering fiasco. THE the former boss of OpenSea Ventures accused of “premeditated rugger” by NFT Ethics, an NFT-related news account.
The report alleges that the accused bad actor used PEPE to launder $10 million stolen from investors. While this is unlikely to affect Pepe’s long-term price tag, it has undoubtedly tarnished his reputation this week amid other issues surrounding the project.
The main concern for investors is that a group of former Pepe team members recently ripped off $15 million from Pepe’s multi-signing. wallet. Other members of the Pepe team later said the culprits had been removed from the team and their access to the wallet revoked, attempting to allay investors’ concerns.
The event occurred on August 24 and significantly damaged its price, with Pepe trading at a -42% discount since then.
A prominent crypto analyst from TradingView, Behdark, recently shared a trade idea predicting a move towards $0.0000003. This would result in a 50% decline to the downside, in which case the trader believes there is a block in demand that will provide a strong support level.
KhaldHégazy shares Behdark’s bearish sentiment. According to the trader’s recent analysis, we could see Pepe reaching a low between $0.00000025 and $0.0000002. Analysis shows that this is the strongest support zone, which will attract the most interest from buyers.
However, YouTuber Zack Ventura urges his supporters to be patient, predicting that the Pepe Prize will see a monumental recovery in the long term.
That said, recent issues have significantly damaged its reputation and investor confidence. Looking ahead, the next pumping coins will likely provide a new and fresh perspective. One of them is Meme Kombat, a new meme coin with real utility and transparency that blew up during its presale.
GameFi Meme Kombat Project Surpasses $450,000, Offers 112% Staking APY – the next Pépé?
Kombat meme is a new P2E staking coin allowing users to bet on AI-powered battles between their favorite meme characters.
The project launched as a pre-sale a little over two weeks ago, raising over $450,000. Its early success can be attributed to its mix of trending topics such as meme coins, P2E, and cryptocurrency gaming.
The project also features a staking mechanism, offering an annual percentage yield of 112%. This is well above the market average, with Ethereum Staking offering only 4% APY and many other major cryptocurrencies at less than 10%.
Another advantage of the project is that the $MK token is actually useful since users will play with it. Combined with its staking mechanism, this could create high demand and low supply.
As a result of Team Pepe’s multi-signature wallet error, Meme Kombat has a significant advantage in that his team is completely doxxed. This provides a high degree of trust and transparency, which is lacking in most other meme projects.
Given these factors, it’s no surprise that presales sell out quickly. However, this means potential buyers need to act quickly to get the lowest pre-sale price.
All information on our website is published in good faith and for general information purpose only. Any action taken by the reader based on information found on our website is strictly at the reader’s own risk.