Pepe Price Kills A Zero - Experts Predict It Can Explode Higher And New Meme Coins Set To Follow
Meme coin season is back, with the frog-based token Pepe (PEPE) once again leading the charge.
The Pepe price is currently up almost 70% in the past 30 days, and has killed a zero to reclaim the important psychological $0.000001 price level as support once again.
Why Is Crypto Going Up?
The explosive price action on meme coins and BTC has left many investors wondering - why is crypto up today?
According to experts, the crypto market may be seeing the start of its next bull run, with Bitcoin printing a “God Candle” and surging to $35k earlier this week.
Many analyst predict that BTC will likely hit the $40k price level before showing any signs of cooling off. Consequently, Pepe - which tends to show a strong correlation with Bitcoin and general market sentiment - is also primed for a strong bullish continuation.
Pepe coin’s official Twitter account also announced today that 6.9 trillion $PEPE tokens - worth $6 million - have been burned today. This burn not only creates a deflationary token supply but is also boosting investors’ confidence in Pepe’s long-term potential that was shaken after the recent rug pull.
Experts Give Bullish Pepe Price Prediction For November
The Pepe price is currently showing extreme bullish strength, surging 80% over the past week - thanks to an over 250% increase in its 24-hour trading volume. According to CoinMarketCap, Pepe currently has a fully diluted market cap of $485 million, moving back into the top 100 coins by FDV.
Less than a month ago, experts were doubtful about the token’s price potential, largely due to an alleged rug pull orchestrated by some of the Pepe developers. Rogue devs sold close to $15.6 million worth of $PEPE tokens from the project’s central multi-sig wallet, leading to a crash in the meme token’s price.
Pepe’s official Twitter account later pinned the blame of the rug pull on “a few bad apples” within the team, announcing that the remaining tokens have been moved to a different wallet and would either be used for community purposes or burned.
True to that promise, close to 6.9 trillion tokens were burned this week. The Twitter account has also announced that a new team of advisors have been brought in to guide the project forward. The current team still has close to 3.79 trillion $PEPE tokens in its custody, which it plans to use for marketing opportunities and strategic opportunities.
If true, this would make Pepe one of the most decentralized meme coins on the crypto market. The fact that it is one of the few meme tokens to be listed on Binance is also helping.
According to trader @Plazma0x, Pepe has broken the key $0.00000085 resistance, which will likely lead its price to double or triple in the coming weeks. He also reveals that a consolidation in the BTC could also lead to a bullish continuation in the meme coin.
Analyst @CryptoTony__, who has close to $350k followers on X, highlights that the $0.00000085 price level has now become a strong support. As long as the bulls manage to hold above this level, Pepe could continue to display its explosiveness.
New Meme Coin ‘Meme Kombat’ Passes $700k In ICO - Experts Predict It To Follow Pepe
Pepe’s initial bull rally in May of this year kickstarted the meme coin season, which saw new tokens displaying over thousand percent bull rallies. Experts predict a similar phenomenon to occur in the coming weeks as tokens such as BOBO and Ribbit are already breaking out.
A new meme crypto - Meme Kombat - is also experiencing a strong demand in its presale, having already raised close to $700k in less than a month.
In fact, popular traders such as Jacob Bury are already predicting $MK to potentially display a 100x Pepe-type growth after its launch.
Many online comparison sites have also added $MK to their list of the best new meme coins to watch, and even the likes of Cointelegraph and CryptoSlate have reviewed $MK positively.
The aforementioned Crypto Tony who has posted a bullish Pepe coin price prediction, also called Meme Kombat ‘innovative’ on Twitter.
Here are TheBitTimes we also added $MK to our list of the five best crypto ICOs to invest in.
Pepe Coin Vs Meme Kombat
Most meme coins seek to exploit the popularity of a beloved fictional character or internet meme - even Pepe’s meteoric rise was fueled by the popularity of Pepe The Frog. However, Meme Kombat is taking this trend one step further - its Play2Earn platform serves as a virtual battle arena for 11 different characters, each representing a popular meme coin such as Doge, Shiba, Pepe, Sponge, Wojak, etc.
The platform also uses AI-based dynamic visualization and random sequencing to make the battles unpredictable and appealing, allowing players to bet on the outcome of the game. Users can compete against each other or bet against the house itself, while also engaging in side-action betting.
With crypto going up, investors need to be cautious of scammers trying to take advantage of the FOMO. The Meme Kombat project has taken strong steps to quell such fears, revealing the identity of all key team members behind the token, including its founder Matt Whiteman. This transparency protects against the type of rug pull experienced by Pepe investors, and more recently holders of new meme coin Safereum.
$MK also offers its own on-chain staking mechanism, currently at an APY of 112% - a rate much higher than the industry standard 5-7%. This allows retail investors to generate passive income, incentivizing them to hold their tokens for longer periods and preventing any pump-and-dump price action.
Meme Kombat is currently priced at $0.01667 in its presale. However, the price is set to surge in just 7 days or when the ICO raises $1 million, whichever happens first. Investors can purchase this new meme coin by swapping ETH, BNB or USDT for $MK.
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