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Alejandro Arrieche
Author
Alejandro Arrieche
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Partially with the assistance of Elon Musk, the price of the OG Pepe the Frog ($PEPE) meme coin has delivered positive gains so far this year and has experienced a bullish event on the technical front that could result in a short-term upswing.
Last week, the head of Tesla provided a boost to the entire group of digital assets based on the Pepe the Frog character after he changed his profile picture for a meme called “Kekius Maximus” that depicts the popular image created by Matt Furie as a Roman soldier.
This was a direct reference to the movie Gladiator II and the confluence of three popular elements – Pepe the Frog, the movie, and Elon himself – contributed to propel the value of PTF-themed coins to new heights, including PEPE ($PEPE).
In the past seven days, the value of this meme coin has increased by 11.2%.
$PEPE is still the third most valuable cryptocurrency in this category with a market capitalization of $8.7 billion that showcases its huge popularity and loyal fan base.
During this same period, other tokens like Shiba Inu ($SHIB), Dogecoin ($DOGE), and Pudgy Penguins ($PENGU) saw their price increase by 11.3%, 20.4%, and 44% respectively as late buyers appear to be showing up to enter the space now that prices have fell off peak levels.
$PEPE Breaks Symmetrical Triangle and Could Produce 69% Gain in the Near Term
The most encouraging signal for Pepe ($PEPE) recently has been a break of a symmetrical triangle setup that on December 31.
Back then, the price surged by 8% while trading volumes doubled the average for the asset, indicating that investors were encouraged by this technical event.
A break like this typically indicates a change in the overall trend as buyers have managed to reverse the latest downtrend. A spike in trading volumes on the day of the breakout is a positive indication that affirms the importance of this price level to investors.
Since that break, the price of $PEPE has surged by 3.9% and this may just be the beginning as the asset could be poised to surpass its most recent peak as a result of this break. For now, the most critical resistance to overcome is $0.00002836.
If the price climbs above this level, chances are that Pepe could rapidly rise to $0.00003500 in the near term for a 68.8% gain based on today’s levels. The Relative Strength Index (RSI) also favors this expectation as the oscillator broke above the signal line.
Although $PEPE at $1 is still a distant reality, the latest breakout is encouraging for traders who are holding on to long positions and die-hard supporters of this meme coin as most of the losses seen in the past 30 days or so could be recovered if the price rises above the token’s December 9 all-time high.
This Pepe-Themed Meme Coin Has Raised Over $42M in Its Presale
The Wall Street Pepe ($WEPE) presale keeps getting hotter by the hour as investors are constantly pouring thousands of dollars into this meme coin with the expectation that it could be as successful as other recent listings like Pepe Unchained ($PEPE).
The project aims to build a strong community of loyal fans who want to take a stand on the whale-dominated meme coin segment by sharing ‘alpha’ trading tips.
Thus, the $WEPE Army will benefit not only from the price increase that the asset may experience down the road but also from the positive upside provided by these trading opportunities.
The ‘Kekius Maximus’ hype created by Elon Musk benefitted all tokens within the Pepe the Frog universe including $WEPE and provided a boost to its presale event as the it provided free publicly to PTF-themed projects.
Thus far, the $WEPE presale has raised $42.4 million.
The latest batch of the token is currently offered at $0.00036642 – a heavily discounted price that should favorably position early buyers to reap the highest returns once the token is listed. This price will only be available for the next 12 hours.
To buy $WEPE while the presale is still active, simply head to the official Wall Street Pepe website and connect your wallet. You can either convert USDT or ETH for this token or complete the transaction by using a bank card.
Once the event concludes, the developing team will announce the claim date. $WEPE tokens will be immediately deposited into investors’ wallet addresses and staking rewards will be progressively distributed.
Don’t miss the chance to invest in this hot meme coin presale while it lasts. Once $WEPE is listed on exchanges, chances are that its price will skyrocket as the Pepe the Frog frenzy is still raging.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
