The meme coin frenzy reveals no indicators of slowing down as we kick off a brand new week. PEPE, the frog-based meme coin, seems unstoppable in the meanwhile, attaining yet one more new all-time excessive following a 13% pump at this time.
Nonetheless, Floki Inu emerges as the largest gainer amongst prime meme cash, with the FLOKI worth surging round 17% prior to now 24 hours. Whereas these two meme cash steal the highlight, a brand new contender is gearing up for launch and will doubtlessly be the subsequent meme coin to blow up.
PEPE Value Prediction as Frog-based Meme Coin Flips Polygon (MATIC) in Market Cap
PEPE’s worth has pumped 13% at this time, presently buying and selling round $0.0000168, marking a brand new all-time excessive territory. This surge has propelled PEPE’s market cap above $7 billion, barely greater than Polygon (MATIC), as this meme coin enters the highest 20 cryptocurrencies by market capitalization.
The favored crypto analyst Patel, who has a considerable following of 64,000 on X, drew consideration to PEPE’s feat of surpassing Polygon’s market capitalization. He emphasised the stark distinction between the 2 tasks, with PEPE being a meme coin whereas Polygon provides tangible utilities comparable to scaling Ethereum, facilitating staking rewards, enabling governance voting, and powering decentralized finance (DeFi) functions and platforms.
BREAKING: MEMECOIN $PEPE FLIPS $MATIC IN MARKET CAP 🚀#MATIC Utility:
1⃣ Scales Ethereum
2⃣ Staking rewards
3⃣ Governance votes
4⃣ Pays transaction charges
5⃣ Powers DeFi & DApps😂 And guess what?
Meme coin #PEPE simply flipped #Polygon in market cap!Welcome to crypto Guys… pic.twitter.com/kU9VVoLU26
— Crypto Patel (@CryptoPatel) Could 27, 2024
Patel’s assertion highlighted the stunning nature of a meme coin like PEPE overtaking a venture like Polygon when it comes to market capitalization, reflecting the typically irrational nature of the crypto market.
altFINS offered an in depth technical evaluation, suggesting a bullish breakout for PEPE. In response to their evaluation, PEPE’s worth decisively broke above the $0.000012 and $0.000015 resistance ranges, confirming a longtime uptrend. Based mostly on Fibonacci Extension ranges, that are generally used to establish potential worth targets, the subsequent key resistance zones had been recognized at $0.0000164 (100% Fibonacci extension stage) and $0.0000211 (161.8% Fibonacci extension stage).
Whereas the Relative Power Index (RSI) indicated an overbought situation with a studying above 70, altFINS famous that the RSI was not overly prolonged, suggesting that the present momentum may doubtlessly maintain itself with out a right away correction.
altFINS highlighted that PEPE’s worth motion exhibited a “Resistance Breakout” sample, which is a bullish sign. When a worth breaks above a resistance zone, it usually signifies that patrons have efficiently absorbed all of the promoting stress from sellers at that stage, permitting the worth to renew its upward trajectory. Following a resistance breakout, the subsequent closest resistance zone usually turns into a viable worth goal for the asset.
By way of potential help and resistance ranges, altFINS recognized the closest help zones at $0.000012 and $0.0000092, whereas the closest resistance zone was highlighted at $0.000021.
Contemplating the robust uptrend throughout quick, medium, and long-term timeframes, in addition to the resistance breakout sample, PEPE’s worth may doubtlessly goal the $0.000021 resistance zone within the close to future. Nonetheless, as RSI is within the overbought space, we would see a pullback earlier than the subsequent leg up.
FLOKI Value Evaluation
FLOKI will not be lagging behind within the present market frenzy. The FLOKI worth has surged by a formidable 17% at this time, reaching $0.00026. Notably, FLOKI’s all-time excessive of $0.0003, achieved through the 2021 bull run, will not be far-off.
Bluntz, an X influencer with over 250,000 followers, drew parallels between PEPE and FLOKI’s chart patterns, stating, “I’m getting pre-PEPE all-time excessive vibes from FLOKI. The chart is wanting very nice, in my view.”
getting pre $pepe all time excessive vibes from $FLOKI.
chart wanting very nice imo + bonk man @theunipcs has been throughout this one for months. pic.twitter.com/xQwww0uKlk
— Bluntz (@Bluntz_Capital) Could 27, 2024
Bluntz’s evaluation means that if FLOKI continues to observe the identical sample as PEPE, the subsequent worth goal could possibly be round $0.00045, which represents a considerable upside of round 73% from present ranges.
Subsequent Meme Coin to Explode?
Whereas PEPE and FLOKI dominate the meme coin area, a newcomer is making ready to enter the fray. The 99bitcoins YouTube channel, boasting over 700,000 subscribers, featured a video at this time about Dogeverse, a brand new meme coin venture that raised over $15 million which doubtlessly makes it one of many greatest crypto presales on the market.
In response to the video, Dogeverse is promoted as an attention-grabbing venture attributable to its multi-chain capabilities, permitting it to function throughout varied blockchain networks comparable to Ethereum, Binance, Polygon, Avalanche, Base, and Solana. This multi-bridge expertise enhances its utility and units it aside from different meme cash.
The Dogeverse presale is nearing its finish, with solely 8 days remaining at press time, so that is your final probability to purchase DOGEVERSE earlier than it launches on exchanges in early June. The venture has already garnered a group, with over 37,000 followers on X and engagement on platforms like Telegram. The roadmap consists of phases of improvement, advertising, and centralized alternate listings, that are anticipated to spice up the venture’s development and worth.
Conclusion
Whereas PEPE’s worth continues to surge, setting new all-time highs, and FLOKI pumps as properly, so the meme coin frenzy reveals no indicators of abating. As buyers search the subsequent potential meme coin to blow up, Dogeverse emerges as a possible contender, backed by its distinctive multi-chain capabilities and a sizeable group.
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