The crypto market saw a surge of prices today as positive news about a potential Ethereum ETF approval hit investors. While the price of Ethereum (ETH) itself rallied around 20% to approximately $3,800, some ERC-20 tokens also experienced pumps as part of the Ethereum ecosystem hype. One hot meme coin is PEPE, which once again broke its all-time high (ATH).
PEPE Price Breaks ATH – Pepe Coin Price Prediction
The PEPE price has broken its ATH again, following a similar feat last week. It is currently trading around $0.0000127 with a market cap exceeding $5 billion. The PEPE chart shows that this meme coin is trading in an ascending channel pattern and has just broken above the $0.000010 resistance level.
This pattern suggests that traders who believe the price will remain within the channel can initiate trades when the price fluctuates between the channel’s trendlines. However, with a breakout from the pattern, traders may consider initiating a position when the price breaks through the upper or lower trendlines.
The Moving Average Convergence Divergence (MACD) indicator shows that the MACD line is above the MACD signal line, indicating a bullish trend. The Relative Strength Index (RSI) on the daily chart currently reads 82, which is considered overbought territory, suggesting that the asset may be due for a correction or consolidation period.
A logical next price target for PEPE could be $0.000015, but we might see some correction first due to the elevated RSI level. The nearest support zones at $0.00001 (previous resistance) and $0.0000080 could provide potential entry points for traders looking to ride the uptrend if a correction materializes.
Still confident $WIF & $PEPE are 2 of the best R/R holds this cycle.
— Miles Deutscher (@milesdeutscher) May 21, 2024
Jacob Bury, a popular analyst with almost 40,000 YouTube subscribers, posted a video today highlighting the best meme coins to buy. Among his recommendations was PEPE, citing the following factors:
- A strong bull flag pattern indicating potential upward movement.
- All PEPE tokens are in circulation, preventing dilution.
- PEPE’s high market cap presents an opportunity to 3x or 5x compared to other meme coins like Dogecoin.
Best Meme Coins to Invest in Now
Bury also highlighted Sealana, a new Solana-based meme coin currently in its presale phase. Sealana is described as a high-risk, high-reward meme coin based on the Solana blockchain. It has already raised $2.2 million during its presale, and the current price is $0.022 per SEAL token.
The project promotes a strong community ethos with themes of defending crypto rights and gains. It is inspired by the viral “Gamer Guy” character from the South Park TV show, depicting an overweight seal obsessed with trading and finding the next big meme coin.
Another notable mention was WienerAI, described as “part dog, part sausage, part AI trading,” a new meme coin with strong tokenomics and a vibrant ecosystem built on the Ethereum blockchain.
Conclusion
All in all, the crypto market is surrounded with a positive sentiment currently with potential Ethereum ETF approval, causing a rally in both Ethereum and many ERC-20 tokens, including meme coins like PEPE. While PEPE’s price has broken its ATH, we might see a correction before hitting new highs. Additionally, new meme coins like Sealana and WienerAI are generating interest among investors seeking to be among the best meme coins to invest in right now.
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