Pepecoin (PEPE) is undertaking a retracement move, as PEPE price crashed down -18%, yet, with the leading meme coin in turmoil, a strange new meme coin is skyrocketing in presale.
As one of the biggest breakout movers of 2023, Pepecoin saw its public launch in April 2023 and became one of the most highly-traded cryptocurrencies of the year.
However, recent months have seen Pepecoin battling against serious downside price action, as capital shifts into more exciting plays.
Where does #Pepe go to the end of this week ?
— PEPE TO $0.01 (@PepeCZBinance) November 3, 2023
Predictions in the PEPE community suggest a bearish sentiment on the short-time frame with traders predicting a drop to $0.0000010.
PEPE Price Analysis: As Pepecoin Undertakes Retracement Move – Is Pepe Going to Zero?
As PEPE price shifts into low gear, Pepecoin is currently trading at a market price of $0.00000106 (representing a 24-hour change of -3.64%).
This comes as PEPE price enters its second-day of downside losses, with price action tumbling towards lower support at $0.0000015.
Despite a strong +100% rally from 20DMA support last week – which saw PEPE price end ‘Uptober’ on a high – PEPE price failed to reach resistance at the upper trendline.
Any downside moves from here will likely find lower support at historic PEPE price levels or from the ascendant 20DMA at $0.00000095.
Meanwhile, in a significant technical development, the RSI has began to cool-off from a major oversold signal triggered by last week’s aggressive rally move.
Now stood at 57.56, there is a strong implication that PEPE price will consolidate here and not drop any further.
This view is reflected in minor bullish divergence from the MACD, which is stood at 0.00000001 in a slight show of strength.
Overall, technical analysis suggests the worst of the PEPE price retracement is over, with strong lower support limiting downside risk.
To the upside, PEPE price has a short-time frame target at $0.00000123 (a potential +16%).
While to the downside, PEPE price has a short-time frame target at $0.00000095 (a possible -10.4%).
This leaves PEPE price with a risk: reward ratio of 1.55, a reasonable entry that suggests PEPE price is not going to zero anytime soon.
As PEPE Price Tumbles, Alternative Meme Kombat Hits $1.13M in Funding
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
MK Presale price is now $0.183!
Learn more about our staged approach to presale in this brilliant breakdown from @BuryCrypto
Full video here https://t.co/onldqUtDsD pic.twitter.com/kGBwBC16VN
— Meme Kombat (@Meme_Kombat) November 2, 2023
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.
The decentralized nature of the project, combined with the thrill of AI-driven battles, ensures that the outcomes are both transparent and unpredictable – every battle is a new experience, ensuring players stay engaged.
Delivering GameFi to Crypto Rivalries in Dramatic Fashion with Staking
The project isn’t just about excitement; it’s built on a foundation of trust – Meme Kombat’s commitment to transparency is evident through initiatives like the impending security audit of their smart contract.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His experience spanning two decades in process design, combined with his position as the COO of North Technologies, adds credibility to Meme Kombat.
When so many projects hide behind the veil of anonymity, Whiteman’s open profile and the project’s physical address in Amsterdam offer an extra layer of trustworthiness.
The tokenomics of Meme Kombat is also an appealing factor for potential investors – Stake the Meme Kombat ($MK) token, priced attractively at $1.667, and dive into a rewarding ecosystem.
With a generous APY of 112%, stakers not only benefit from passive income but can also use their staked tokens to place bets in the arena – this dual functionality – earning while gaming – sets Meme Kombat apart.
Intriguingly, engagement on the platform directly influences the income one can earn, so, the more you participate, the more you stand to gain.
With the GambleFi industry booming following coins like Rollbit, Meme Kombat seems poised to tap into this lucrative market with its innovative approach.
By merging memes, gaming, and blockchain, the platform is presenting something fresh to the crypto community.
As PEPE price drops, those looking to diversify their portfolio with a unique offering, Meme Kombat seems like an opportunity too good to miss – so, don’t be left behind (stay tuned with the MK Telegram).
Embrace the future of meme-based gaming and betting with Meme Kombat.
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.
The post Is Pepe Going to Zero? PEPE Price Crashes 18% as Strange New Meme Coin Surpasses $1 Million Funding Milestone appeared first on Cryptonews.
