Analysts Say New Pepe Coin (PEPE) Rival Could Deliver a 100x ROI by the End of 2024, Whales Getting Greedy
The post Analysts Say New Pepe Coin (PEPE) Rival Could Deliver a 100x ROI by the End of 2024, Whales Getting Greedy appeared on BitcoinEthereumNews.com.
Pepe Coin (PEPE) experienced an extraordinary rise in early 2023, reaching a $1 billion market cap within two weeks. Despite its initial success, PEPE now faces challenges as market conditions change. Amidst this shift, a new rival, MoonTaurus (MNTR), is gaining traction, attracting whales looking to capitalize on its potential for massive returns. Pepe’s Current Challenges Pepe Coin emerged in early 2023, with a meteoric rise that saw its market cap soar to $1 billion within just two weeks. However, PEPE’s journey has since encountered turbulence, with its price experiencing significant downward pressure. PEPE is currently hovering above $0.0000077, down over 55% from its all-time high. Technical indicators suggest that PEPE still has room to fall, with a broader market downturn and high correlation with Ethereum contributing to its struggles. Despite positive exchange netflows, PEPE’s price has continued to decline, raising questions about its ability to withstand the current market forces. The coin’s open interest and cumulative volume delta are dropping, indicating that traders are closing long positions as the funding rate turns negative. This bearish sentiment suggests further price drops, potentially pushing PEPE towards its yearly lows. Although increased adoption could lead to a reversal, the immediate outlook remains uncertain. MoonTaurus (MNTR) Steps Into the Spotlight As Pepe faces these challenges, MoonTaurus (MNTR) emerges as a promising alternative, capturing the interest of both retail investors and whales alike. Unlike many meme coins, MoonTaurus adopts a deflationary model with a limited supply of 3 billion tokens, making it an attractive option for those seeking scarcity-driven value. This design contrasts the inflationary pressures often faced by meme coins, positioning MNTR as a unique player in the market. MoonTaurus has already moved into the second stage of its presale, following a successful first phase that raised $300,000 and sold out quickly. Investors…
Filed under: News - @ September 1, 2024 12:17 pm