Pepe Price Tanks: Can This $4 Million Solana Upstart Revive The Market?
Popular Solana meme coin Pepe ($PEPE) has posted the heaviest intraday price losses among the eight biggest meme coins by market capitalization.
At the time of writing, the token has shed 4.4% overnight to trade at $0.00001178.
Over the last seven days, Pepe’s price has fallen about 17%.
This makes its losses both over the day and over the week far greater than sector leader Dogecoin’s $DOGE.
In comparison, the original meme coin fell 1.6% overnight and 11.3% over the week to change hands at $0.1416.
Broadly speaking, meme coin holders in general are feeling the effects of a market-wide dip that has shaven 1% off the original and biggest cryptocurrency Bitcoin ($BTC) overnight.
BTC’s intraweek losses amount to about 6% as it trades at around $66,935 on Friday afternoon UTC .
Pepe’s rising support throughout May (indicated by the green line) helped the price rally to an all-time high of $0.00001717 on the 27th.
Since then, stiffening resistance (indicated by the red line) has driven the token back about 30%, but it has still largely kept its gains.
Pepe’s falling relative strength index of 32 is dangerously close to the oversold threshold of 30.
This could be a sign that the post-ATH price correction/sell-off may continue today, although the token’s performance over the last week suggests Pepe has found strong support around its current price level.
As Pepe’s Price Sinks, Investors Dive Into Crypto’s Next Viral Water Dweller
Analysts are beginning to wonder how much mileage the Ethereum-based Pepe has left, even despite new price highs.
Next to a rising wave of viral Solana meme coins posting serious returns, the frog is looking a little dated.
Solana coins DogWifHat ($WIF), Bonk ($BONK), Book of Meme ($BOME) and Popcat ($POPCAT), all quickly rose to become top ten meme coins by market capitalization within a year of launch.
Sealana ($SEAL) is looking like the next contender. He has already raised well over $4 million since his presale launched two months ago.
He’s a not-so-subtle semi-aquatic homage to Gamer Guy, a character that first appeared in South Park’s World of Warcraft episode.
Gamer guy’s milk-bottle glasses, screen-locked stare, messy room and gravity-defying girth, quickly made him go viral as a symbol of excessive screen use, from keyboard warriors to degen traders and desk potatoes.
Sleepy Joe's speech 'bout raisin' fuel
taxes and turning trucks electric ain't go down well at $SEAL Truck Fest!
Time for #Sealana and his buddies to take matters into their own hands and make sure those god damned liberals stick their hairdryer cars where the sun… pic.twitter.com/0BDlaomsEZ
— Sealana (@Sealana_Token) June 12, 2024
When the Solana meme coin gold rush begins, Sealana has the potential to eclipse Pepe on his way out of mom’s basement and into the world of high-volume meme coins; a true patriot fattening his blubber on greenbacks as he lives the American dream.
Investors who want to prepare for potentially blistering returns have eleven days to snap up $SEAL at a fixed presale price of $0.022.
The Sealana presale concludes at 6PM on June 25. So this could be the last opportunity to get in early before post-listing appreciation potentially blows it sky-high.
At the current price, a $100 investment yields around 4,545 $SEAL tokens. If the price rises to $1, that same $100 investment would become worth over $4,500.
Should the price reach $5 per SEAL, a $100 investment would skyrocket to over $20,000 – incredible returns for early investors.
With Pepe’s price plummeting, it’s no surprise that investors are flocking to Sealana, the hottest new meme coin in the crypto market.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
