Pepe’s Price Drops 20% as Investors Cash Out for New Viral Meme Coin – How to Buy Early?

Pepe's Price Drops 20% as Investors Cash Out for New Viral Meme Coin – How to Buy Early?

The Blockchain Industry: A Roller Coaster Ride of Meme Coins

The blockchain industry is known for its volatile nature, where prices of cryptocurrencies can skyrocket or plummet in a matter of hours. Pepecoin (PEPE), a meme coin that gained attention for its unique branding, is now facing a steep decline in price. Over the past 48 hours, PEPE has tumbled by 18%, causing concern among its holders. This sudden drop can be attributed to a change in the requirement for the PEPE multi-signature wallet, which has caused fear and uncertainty within the Pepecoin community.

Previously, the PEPE multi-signature wallet required 5 out of 8 signatures for a transaction to be authorized. However, this threshold has now been reduced to just 2 out of 8 signatures. This change has led some community members to believe that PEPE is shifting into a private wallet address, which has triggered panic selling among investors.

Amidst this turmoil, the price of Pepecoin has hit a low point, currently trading at $0.00000091 with a 24-hour change of -4.21%. The news of the multi-signature threshold change couldn’t have come at a worse time for PEPE, as it was already struggling to hold above the $0.00000105 price level and facing resistance against the 20-day moving average (DMA). As a result, Pepecoin’s price has plummeted 23% below the 20DMA, now trading at the bottom of its range.

Despite the price decline, there is a glimmer of hope for PEPE. The Relative Strength Index (RSI) indicates that the coin is currently oversold with a reading of 29, suggesting a potential rebound. Additionally, while the Moving Average Convergence Divergence (MACD) has flipped to bearish divergence, the margin is only at -0.00000002.

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Taking all these factors into consideration, there is a potential upside target for PEPE at $0.00000105 (+16.67%), which would allow it to re-test resistance from the 20DMA. On the downside, there is a historical level of support at $0.0000008 (-12.25%), limiting the risk for investors. However, the risk-reward ratio stands at 1.36, indicating a mediocre entry with limited potential for reward.

While Pepecoin holders face anxiety over its future, there’s another meme coin that’s grabbing the attention of the crypto market – Sonik Coin ($SONIK). Sonik Coin aims to become the fastest token to reach a $100 million market cap, and it is making significant strides towards achieving this goal. In just a week, Sonik Coin has already raised over $467,000 in its presale, attracting eager investors.

Sonik Coin’s appeal stems from its impressive Annual Percentage Yield (APY) of 209% through staking. Staking allows token holders to earn passive income by locking up their tokens and participating in the network’s consensus mechanism. By doing so, holders are encouraged to hold onto their tokens for an extended period, stabilizing the price and fostering steady growth. With each token priced at a mere $0.000014 during the presale, it presents an attractive entry point for investors before the coin debuts on Uniswap, a decentralized exchange that will amplify its visibility.

Similar to Pepecoin’s success, Sonik Coin draws inspiration from popular culture, specifically Sonic the Hedgehog. Its innovative staking model, combined with the enthusiasm surrounding its branding, positions it for a skyrocketing trajectory. The transparency and community-centric vision of Sonik Coin’s founders, along with the enticing staking rewards, have set it apart from other memetic cryptocurrencies.

It is important to note that investing in cryptocurrencies comes with high risk. The blockchain industry is known for its volatility, and prices can fluctuate dramatically. While Pepecoin experiences a decline, Sonik Coin offers a promising opportunity. As always, it is crucial to conduct thorough research and carefully consider the risks before making any investment decisions.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. Investing in cryptocurrencies carries the risk of potential loss of capital.

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