Pepe Coin (PEPE) has experienced a significant price surge, driven by a broadly bullish sentiment in the cryptocurrency market.
With traders now shifting their view on PEPE, many believe the token could be poised to continue its upward trajectory in the remaining days of October and beyond.
Meanwhile, another meme coin, Meme Kombat (MK), is capturing investor interest through its limited-time presale event.
Pepe Coin’s Price Surges Amid Growing Investor Interest
PEPE’s price is up almost 6% since yesterday, with the token now trading around the $0.000000656 level.
Price has broken above the 50-day Exponential Moving Average (EMA) on the 4-hour chart, indicating that the short-term trend may have flipped.
A key catalyst for this sharp rise is PEPE’s rejection of the support zone at $0.00000062, which was also tested last week.
Since tapping the zone on Thursday morning, PEPE has surged, demonstrating strong upward momentum that is attracting further buying interest.
According to CoinMarketCap, PEPE trading volumes are up 31% in the past 24 hours, hitting $48.4 million.
Additionally, data from Etherscan.io reveals that the number of wallet addresses holding PEPE has increased slightly in recent days.
These metrics suggest that retail and possibly institutional interest in PEPE is growing – setting the stage for further upward price movement.
Dovish Fed Fuels Positive Crypto Market Sentiment
The recent upturn in PEPE’s price seems to resonate with a broader shift in the crypto market sentiment.
Jerome Powell, chair of the Federal Reserve, spoke at the Economic Club of New York and took a surprisingly dovish stance.
This dovish outlook contrasts with earlier expectations of a prolonged period of high-interest rates aimed at fighting inflation, creating a favorable environment for “riskier” assets like cryptocurrencies.
According to the CME FedWatch tool, there’s now a 98% chance that the Fed will keep rates the same at its upcoming FOMC meeting in November.
If this happens, it would be a positive development for cryptocurrencies, since they would become more attractive to investors.
Bitcoin (BTC), often a gauge of crypto market sentiment, has shown reduced volatility and a positive trajectory this week, indicating a market-wide uptick.
In this context, PEPE’s recent surge may not be an isolated incident but part of a larger movement of positivity sweeping the crypto sector.
Meme Kombat Emerges as Rising Star in Crypto Gaming Sector
With sentiments beginning to shift, Meme Kombat (MK) has emerged as a new meme coin generating much buzz in the crypto community.
Operating as a tokenized gaming platform, Meme Kombat lets players wager on meme battles by using MK tokens.
These battles are animated using AI and feature popular meme characters like DOGE, Pepe the Frog, and Wojak.
Users can win more tokens and other prizes by betting on the winner of the battles – while also earning an APY of 112% by staking their MK tokens.
Although still in development, Meme Kombat has recently launched a presale phase for the MK token, which has raised $600,000 in just one month.
The presale price is $0.1667 per token, which is expected to be a discount on the eventual exchange listing price.
According to Meme Kombat’s white paper, 50% of the total MK supply has been reserved for presale investors, ensuring the community has a sizable stake in its future.
With an ambitious roadmap that includes launching new game modes and meme characters, along with listings on DEXs like Uniswap, many early backers believe that Meme Kombat is poised for future success.
Given the influx of investors into this promising project, combined with projections of the crypto gaming market reaching a valuation of over $65 billion by 2027, MK stands out as a meme coin to watch as the markets recover
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