• Pepecoin ($PEPE) has seen a 394% gain over the past five days, with a market cap of $452 million and over 60k holders.
• Ethereum whales are taking notice, and the coin has been listed on centralized and decentralized exchanges.
• Pepe outperforms dog-themed meme coin rivals and is expected to continue its bullish trend, with potential for a 10X profit-taking strategy.
Pepecoin ($PEPE) Price Rises 394%
Pepecoin ($PEPE), a frog-themed meme coin, has been making waves in the cryptocurrency market as it registers gains of more than 394 percent in the past five days. The coin is now trading around $0.00000108 during the early London trading session, catching the attention of both crypto enthusiasts and FOMO traders alike. With a total market capitalization of approximately $452,054,247.55 as of Monday, it has dethroned some of its dog-themed meme competitors such as FLOKI and Baby DogeCoin (BABYDOGE).
Support from Centralized & Decentralized Exchanges
The rally has mostly been fueled by FOMO traders, attracting significant attention from Ethereum whales. On-chain analytics platform Spot On Chain identified a whale that made more than $1.8 million in less than two weeks, and more whales have been identified hodling strong, waiting for a sell signal. Furthermore, PEPE’s listing on both centralized and decentralized exchanges have also contributed to its success.
Bullish Momentum Gaining Traction
PEPE’s price is up approximately 84 percent in the past 24 hours alone – hitting an all-time high (ATH). From an Elliott wave standpoint, there are further upsides to cover in the coming days due to its bullish momentum gaining traction as its third wave takes ground. This kind of performance is not uncommon for meme coins; many will often rally 10X during their peak times before correcting again soon after that period ends.
Potential for 10X Profit Taking Strategy
Overall Pepecoin’s bullish trend is expected to continue which presents potential for investors looking to take advantage of 10X profit taking strategies if they can accurately predict when these peaks occur or when correction periods begin.
Conclusion
In conclusion Pepecoin’s impressive performance demonstrates that it is possible for new entrants into the cryptocurrency market to compete with established coins while still managing success despite opposition from better funded competitors such as Dog themed coins like FLOKI & BABYDOGE . It remains to be seen whether or not this success will be sustained but at this time it appears that PEPE may be here to stay!