Last updated:
Junior Content Creator
Harvey Hunter
Junior Content Creator
Harvey Hunter
Share
Why Trust Cryptonews
While PEPE price performance over the past week appears impressive with a 19.20% gain, it’s worth noting that it took a Trump presidency to trigger this movement.
Throughout the coveted “Uptober,” PEPE struggled to maintain any significant momentum, often grasping at straws while other meme coins rallied.
In fact, the past week’s gains are the only reason the monthly performance is in the positive, pushing it to an 11.75% gain.
While this isn’t to deny the potential for further PEPE price gains going forward, especially with much of the market uncertainty shed post-election, those looking for quick and fast gains may be putting their eggs in the wrong basket this cycle.
PEPE Price Analysis: Pepe Still Holds Potential
Technical indicators suggest that the PEPE price is still on track as it maintains a breakout from a multi-month descending wedge pattern, targeting $0.00001730.
Despite a brief scare where support at $0.0000086, which had initially confirmed the breakout, was lost, it has since been reclaimed.
While the breakout was initially met with a downtrend, forming a symmetrical triangle it appears it may now be over as PEPE takes an exit, continuing on its breakout path.
Particularly as the 50SMA and 200SMA seem to now provide strong support, PEPE appears well positioned for its next leg up.
However, while PEPE’s outlook is bullish, the sudden rise of coins like $GOAT and $Pnut is creating FOMO among meme coin investors.
After all, why settle for a 2x when 100-1000x opportunities appear commonplace in the current meme coin market?
Paradigm Shift Births New Narrative: Here’s Why $DUM Stands to Benefit the Most
This new wave of memecoins underscores what crypto analyst Murad Mahmudov describes as a paradigm shift poised to reshape the crypto landscape during this meme coin supercycle.
Mahmudov notes that while past cycles saw the tokenization of iconic memes like Pepe the frog as PEPE, the 2024 cycle will see the emergence of a new category he calls “tokenized vessels of faith.”
He foresees a transition from pop culture-based meme coins to more serious “movement coins” that could evolve into ideologies.
These coins evoke cult-like followings rooted in deep community engagement.
FreeDum Fighters ($DUM), aligns with this vision while also tapping into one of the hottest trends in meme coins right now: PolitiFi.
This presents a potential opportunity to capitalize on the meme coin supercycle, and investors appear to be seizing it already, with DUM raising over $450,000 in its presale so far.
FreeDum Fighters humorously parallels recent political events, featuring two mechanized political figureheads: MAGATRON and Kamacop 9000, battling for supremacy over the platform.
By staking $DUM, investors can vote to bolster the war effort of their mechanized political figurehead of choice, aiding them in weekly FreeDum Fighters debates.
If MAGATRON is in the lead, the Kamacop pool will offer higher rewards, providing consistent gains, even amidst recent volatility.
Currently, MAGATRON stands at an 66% lead with an appealing 270.11% APY. Meanwhile, the underdog Kamacop reaps a lucrative 717.26% APY, presenting one of the biggest passive income opportunities right now.
Victory brings spoils, with points accumulated based on these efforts, and an airdrop distributed according to the points earned. Even the front runner can reap rewards, ensuring that every participant has something to gain before the token even launches!
Join the fight on X and Telegram to stay up to date on the latest announcements.
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.
