Pepe’s price rose 5% in the last 24 hours to trade at $0.0000009623 at 5:40 am EST on trading volume which increased by 21% to $80 million.
Inspired by the early 2000s internet meme Pepe the Frog, Pepe aimed to capitalize on the popularity of meme currencies like Elon Musk’s favorite Dogecoin and Shiba Inu. And he surged over 7000% after launch to long become the king of meme coins.
But after a new meme coin on the Solana blockchain, $SMOG, surged 1,335% following its launch on Jupiter Dex yesterday, it has a new challenger. And with an upcoming air launch, it presents itself as a formidable competitor, one that could eclipse Pepe’s success.
Pepe Price Bulls Form Falling Wedge Pattern, Signal Bullish Reversal
The support level for Pepe at $0.00000060 established a foundation for positive momentum, driving the price higher, reaching resistance at $0.0000074. However, the bears have formed resistance, forcing the price lower.
Pepe price is indicating a bullish trend reversal as the bears have formed a falling wedge pattern, which traders see as a sign of a bullish trend reversal. This will allow the bulls to push the price above the upper boundary of the wedge, also confirming the anticipated bullish rally.
However, the bulls must overcome the 50-day and 200-day moving average hurdles, which represent immediate resistance for Pepe price.
The Relative Strength Index (RSI) is trading higher, bouncing from the oversold level of 30 to 42, approaching the mid-level of 50, indicating intense buying pressure. A fresh boost in bullish momentum could see the RSI rise to the overbought level of 70.
Pepe Price Prediction
Investors are optimistic about the formation of the falling wedge pattern and anticipate a bullish trend reversal. With the support of the RSI, the bulls can push the price higher, targeting $0.000002857 and aiming to surpass the previous high of $0.00000192.
However, the bears could continue the downtrend and approach the support zone at $0.00000863.
Pepe’s prominence is threatened with the arrival of SMOG.
Analysts Back New SMOG Cryptocurrency as the Next Big Coin Meme Solana
The SMOG tab, a newcomer to the Solana blockchain meme coin scene, is quickly gaining traction and reaching unprecedented heights. Analysts hail it as the next big thing among Solana meme tokens.
After its recent launch on Jupiter DEX, SMOG quickly emerged as one of the most prominent meme coins on Solana, challenging BONK’s dominance with its tagline: “One meme coin to rule them all.” Smog witnessed an impressive 1,335% surge on its debut on Jup DEX.
Buy $SMOG to receive Airdrop, 1000x growth potential
Additionally, the SMOG token features a unique tokenomics structure, with 50% allocated to marketing, 35% to the much-hyped airdrop campaign, 10% for future stock market listings and 5% for liquidity at launch.
After the Jupiter Solana airdrop, which distributed a whopping $700 million, $SMOG promised a huge airdrop for its investors. To join the next airdrop, simply buy and hold $SMOG. 35% of the 1.4 billion token supply has been reserved for what is touted as the “largest airdrop in history.”
$SMOG has already built a strong community. Additionally, $SMOG holders like you may be eligible for a portion of the campaign’s profits. community rewardwhich encourages you to hold on to your tokens.
Crypto analyst and YouTuber Jacob Bury labels Smog as a token with 100x return potential and says it can reach a market capitalization of $500 million.
You can buy the SMOG token at its official website to be eligible for the next historic airdrop.
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