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Arguably the contemporary face of meme coin culture, Pepe has displayed relentless strength since its 2023 inception.
However, competition is heating up in the meme coin domain, so is Pepe still a buy? We answer this question today in our Pepe price prediction.
Pepe could outperform the market in 2024
Pepe has displayed relative strength against almost every major crypto asset since its 2023 launch.
It is currently priced at $0.000007394, up 3% today and 49% this week but down 9% this month. It holds a $3.1 billion market cap and a $1.2 billion 24-hour trading volume.
Its market cap positions it as the 36th largest crypto, but its trading volume places it in the 11th spot, reflecting a keen market interest.
Pepe experienced 10x gains from its 2024 lows to its highs but subsequently retracted, retesting two key support levels forged on its ascent.
But following the support retests, it has displayed impressive strength, recovering over 50% of its selloff.
Based on this momentum and its exceptionally high trading volume, we could expect Pepe’s uptrend to prevail in the coming weeks.
The Pepe price chart above shows Fibonacci levels at $0.000015 and $0.000022, which could be the next resistance zones for the frog-themed meme coin.
When discussing Pepe’s strength compared to other meme coins, renowned trader Bluntz said, “Of all the major meme coins, Pepe looks the best. It has already cleared and reclaimed the (a) wave lows after turbo V reversing from the major 0.618 Fibonacci level.
Max Schwartzman, CEO of Because Bitcoin, also backs Pepe for continued bullish momentum.
“You can learn as much (if not more) from a rejection at a key level as you can from a breakout. No one enjoys a pullback, but they are necessary & healthy,” explained the analyst.
He continued, “After breaking out of a multi-month re-accumulation, Pepe tagged the 1.618 Fib extension. The good news here is that since the 1.618 is officially confirmed as valid and in play, the 2.618 and 3.618 are also valid and in play.
I’m very bullish. I still expect multiples X’s to be accomplished over the next couple of quarters.”
Indeed, Pepe’s decisive recovery, combined with support from top industry experts, sets a bullish precedent for its future. However, analysts are also backing the new meme coin Slothana as a top gainer after it raised $15 million at presale.
Slothana raises $15m; dwarfs Pepe
With a whopping $15 million invested into its presale, Slothana has struck a chord with profit-hungry degens hoping for similar success to other Solana presales like Book of Meme and Slerf.
The two projects soared exponentially after launching on exchanges, with BOME hitting a $1 billion market cap in two days and Slerf receiving coverage in Bloomberg and eclipsing Ethereum in trading volume.
But despite its laid-back nature, Slothana has out-maneuvered both of these projects in terms of presale total raises, raising over $15 million compared to BOME’s $2 million and Slerf’s $10 million.
While this reflects the immense market support behind Slothana, it’s not the only thing driving its hype.
Traders speculate that the anonymous Slothana team is the same crew that pioneered Smog. This uber-successful Solana meme coin soared over 100x to a $270 million market cap in February.
And this is more than social media hearsay. Beady-eyed sleuths have spotted an undeniable connection between the teams, with Smog replying to Slothana’s first-ever X post when it had less than 50 followers.
With this in mind, Slothana looks primed to break more records and enjoy an explosive IEO. However, the presale ends in just three days, so potential investors must act quickly.
To learn more about this project, visit the Slothana presale website.
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