The bearish momentum surrounding Pepe coin ($PEPE) shows no signs of slowing, with the token’s price dropping by 5% at the weekend and still in the red today despite the Bitcoin price rallying.
Although $PEPE was offered some brief respite in the days following its 80% correction, this positive sentiment has been exhausted, with bears reigning supreme once more.
Given Pepe token’s pessimistic outlook, meme coin enthusiasts are now scouting for the next big thing in the market – with new assets like Biaocoin ($BIAO), RefundCoin ($RFD), and Wall Street Memes ($WSM) emerging as potential ‘next Pepe’ assets.
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Pepe Coin Price Prediction – Will Pepe Recover?
Currently, $PEPE is hovering around the $0.000001455 level, displaying a noticeable lack of momentum.
CoinMarketCap data shows that the $PEPE price is now 66% below the all-time high posted on May 5, following a small bounce from its monthly low.
Trading volume has also dropped, with only $120 million worth of $PEPE traded in the past 24 hours – a stark contrast to its mid-April highs.
Crypto “whales” appear to be getting out while they can, with data from DEXTools.io revealing that two sell orders worth over $50,000 were placed in the past day – and one worth over $76,000.
This trend suggests that most early $PEPE investors are now opting to cash in rather than wait for a potential rebound.
Any prospective rebound looks increasingly unlikely, as Pepe coin’s technicals make for grim viewing.
Over the weekend, $PEPE began forming a clear bear flag on the 4H timeframe. This pattern often appears before a downward impulse and has already played out once before on May 10, when the token’s price dropped over 40%.
Adding to the concern is that $PEPE has just rejected the resistance zone located at $0.0000015. This zone held as support last week yet is now capping any potential Pepe price resurgence.
Should the Pepe crash see continuation, the likely target would be the bottom of the bear flag, which is around $0.000001325. This would represent a decline of 9% from today’s price.
There’s even scope for $PEPE to drop to the lower boundary of the long descending channel in which price is currently trapped. Should this occur, it would translate to a drop of around 20%.
Given these indicators, meme coin investors are now treading carefully, given that the Pepe price’s future appears uncertain.
Biaocoin Trends on DEXTools
Although the forecast for Pepe token is undoubtedly gloomy, there are still some rays of light throughout the meme coin market.
Exploding at the time of writing is Biaocoin, a new meme coin topping the ‘hot pairs’ list on DEXTools.
A relatively unknown asset, $BIAO appeared out of nowhere and its CoinMarketCap page reads: ‘Biao was created with communities worldwide to bring people closer. Not just a meme but a friend.’
$PSYOP developer @vydamo_ tweeted that a crypto whale wallet with $400k in FLOKI, had recently bought 6.2 ETH worth of $BIAO.
Wall Street Memes Presale Nears $1M Raised – Next Pepe Coin?
One of the newest presale projects to emerge in the wake of $PEPE’s demise is Wall Street Memes ($WSM) – a brand-new meme coin that many believe could be a game changer and potentially even the next Pepe if Elon Musk engages with the Twitter account again.
The billionaire Dogecoin and meme coins fan has interacted with its @wallstmemes account three times in the past.
Unveiled on May 26, Wall Street Memes is a natural evolution of the popular Wall St Bulls NFT collection, which sold out in 32 minutes in 2021.
Since the collection’s launch, Wall Street Memes has built up an incredible following across several social media channels – now standing at well over 400,000 “degens.”
Now, Wall Street Memes’ team is looking to give back to this community by launching the $WSM token, which is designed to allow community members to share in the project’s continued growth.
The total supply of $WSM is fixed at two billion, with 50% set aside for the project’s presale. The remaining 50% will be used for CEX/DEX liquidity and community rewards.
This latter element has already begun, with the Wall Street Memes team launching an exciting airdrop that will split $50,000 worth of $WSM between five lucky community members.
To participate in this airdrop, community members must complete several simple tasks, such as following the Wall Street Memes social channels.
In less than three days, the Wall Street Memes presale has netted approximately $1 million, driving significant market interest and catching the eye of traders searching for the next Pepe coin.
Early-bird investors can buy $WSM tokens through this 30-stage presale for just $0.0253.
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