PEPE Prices Dip to Weekly Low as Traders Lock onto Utility from Solana and Lunex Network
The post PEPE Prices Dip to Weekly Low as Traders Lock onto Utility from Solana and Lunex Network appeared on BitcoinEthereumNews.com.
After a meteoric 105% gain MoM, PEPE’s recent plunge to weekly lows reflects a fading memecoin frenzy. The hype around speculative assets cools, and investors are increasingly pivoting toward blockchain ecosystems offering tangible utility. Only two such innovators have sprung up as the next crypto to explode: Solana and the new Lunex Network. Amid the growing selling pressure, Solana made it to ATH. At the same time, Lunex’s high efficiency, cross-cain AMM DEX is dominating presale with impressive numbers. Is this the shift from speculation to value? Let’s find out. PEPE’s meteoric rise faces turbulence as memecoin mania wanes The ERC20 meme darling, PEPE, blazed a trail to astonishing heights in November. The PEPEthe Frog-inspired memecoin soared to a new ATH of $0.000025 following its Coinbase listing. But the once-roaring rally appears to be faltering. Over the past week, PEPE has shed nearly 10%, with indicators pointing to potential further losses. Analysts are still on the sideline, but technical indicators are blaring a cautious alarm. The RSI and MVRV ratios reflect a weak sentiment for the memecoin. The bulls remain hopeful. The support at $0.0000139 could provide a lifeline, with a trend reversal potentially pushing PEPE to test resistance at $0.0000228. Solana breaks new ATH. Can SOL go higher? Solana’s recent excellent performance starkly contrasts the fading memecoin hype. SOL price ran up to a new ATH of $264.50 amid Bitcoin’s impressive rally toward $100,000 and the recent memecoin mania. Onchain data has been overly impressive. DEX volume saw a 110% monthly uptick, and ecosystem growth has been quite rapid, too. In the same period, Solana’s TVL surged to $9.2B, outpacing even BNB and many Ethereum L2s. Beyond this, over 29.3 million unique addresses interacted with Solana DApps in the past week—more than triple the activity on major competing blockchains.…
Filed under: News - @ November 30, 2024 5:22 am