Pepe Price Explodes As Altcoins Bounce Back, Which Meme Coins Are Next?
The post Pepe Price Explodes As Altcoins Bounce Back, Which Meme Coins Are Next? appeared on BitcoinEthereumNews.com.
This article was paid for* The Pepe meme coin has made a strong recovery today on Wednesday after yesterday’s altcoin capitulation. The PEPE price is up by nearly 8% today, leading the altcoin recovery even as Bitcoin fails to display any considerable bullish strength. Pepe’s bounce-back reaffirms that meme coins would remain the top-performing asset class during this bull market. New meme tokens such as MAGA, Sealana and PeiPei are also in high demand amongst investors searching for 10x – 100x returns. Why is Pepe Price Rallying Today? In line with the rest of the cryptocurrency market, the Pepe coin faced significant selling pressure, owing to the growing macroeconomic risks. Following the hawkish FOMC meeting last Wednesday, the PEPE price corrected by nearly 25%, trading as low as $0.000010 yesterday. However, the frog-themed meme coin survived 3 separate tests of the $0.00001 support level, printing a strong recovery after the final attempt. Pepe has rallied by nearly 8% since and is trading at $0.0000114 at press time with a market capitalization of $4.86 billion. The Pepe coin has again benefitted from its strong correlation with Ethereum. Indeed, it has been acting as a leverage bet on ETH during this bull cycle. The meme coin exploded after the US Securities and Exchange Commission declined to recommend any enforcement action against Consensys as part of its ongoing investigation. This means that the SEC will no longer charge Consensys for violating the Securities Act for its sale of ETH. ETHEREUM SURVIVES THE SEC. Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0. This means that the SEC… — Consensys (@Consensys) June 19, 2024 Industry insiders are viewing this…
Filed under: News - @ June 20, 2024 12:22 am