An unlikely new meme coin, PEPEFI, has undertaken a strange 35x price move over the past 24-hours, leaving cautiously bullish traders baffled, while in other news, market interest in a new Bitcoin ETF event token is skyrocketing – could it be the next big thing?
Recent months have seen a huge trend in explosive DEX-launched tokens, with countless moon-shots garnering significant attention, including the ever-popular APX, SAMBO Bot, Baby Meme, MILK, XDOGE and IO.
Top 4 Daily Gainers & Hot Pair by @DEXToolsApp
11.12.2023$PEPEFI $ETF $MEME $STABLZ $GROK $OTSEA $HAY $ETF pic.twitter.com/12RWNZCNiR
— @insidereca (@insidereca) November 12, 2023
Now in the latest skyrocket, a mysterious Pepecoin spin-off token is accelerating up the charts, but with traders completely perplexed with PEPEFI’s bizarre price action, lets take a closer look.
PEPEFI Price Analysis: As PEPEFI Develops Bullish Form – Will This Mysterious Meme Coin Pump or Dump?
As price pushes out of consolidation, PEPEFI is currently trading at a market price of $0.001526 (representing a 24-hour change of +435,891%).
This spectacular move comes following a dramatic 24-hours of price action for this unlikely meme coin, which has grown almost overnight to an impressive $3.97m market cap.
Fuelled by accumulation by more than 351 holders, PEPEFI was launched at just 12:00 on November 11, and while initial traction was slow with limited interest in this stealth launched coin, at 04:00 on November 12 PEPEFI exploded.
Shooting up across 8-hours on November 12, PEPEFI price increased a jaw-dropping +440,000% in a quick-fire rally that saw PEPEFI hit an all-time high at $0.00585.
However, this was quickly met with a resounding dump by market open on Monday 13, with PEPEFI suddenly tumbling -99% in a catastrophic two-hour sell-off.
Yet, miraculously despite the aggressive pump and dump move, an influx of $135k in trading volume over the past 24-hours has triggered an admirable price rally, as traders sense profits on the table.
The move has so far established a healthy trading channel with support levels at $0.001194 and $0.0015, leaving this secondary PEPEFI rally with good technical structure – in a post-dump move that appears to be fuelled by genuine retail interest.
Better still, the steady upside move appears to have created a pan and handle pattern on the chart, suggesting bullish posturing as price continues to climb, supported by 84% buy pressure in transactions over the past 24-hours.
A break above the current $0.001580 resistance level would see PEPEFI targeting an upside move to $0.004225 (a possible +177% push).
While downside risk from here could see PEPEFI fall back to lower support at $0.001415 (a potential -20.7% tumble).
This leaves PEPEFI with a risk: reward ratio of 8.55, a potentially brilliant entry for a high risk appetite trader, but certainly not a trade for the faint hearted.
Yet, for retail investors with lower risk tolerance, an equally lucrative and safer play emerges with a new presale for a Bitcoin ETF event token.
This Bitcoin Alternative Token Could Skyrocket Amid Bitcoin ETF Bullrun – Don’t Miss Out
A new Bitcoin alternative presale launched this week, offering eagle-eyed traders the opportunity to make it big on unfolding Bitcoin ETF rumors, without having to eat the $36,000 cost of becoming a wholecoiner.
Bitcoin ETF Token ($BTCETF) is currently trading at a market price of $0.0052 in funding round stage 1 with an alluring $667,823 raised in the opening weekend of presale.
Designed and built with skyrocket potential in mind, this promising token aims to bank big on market excitement surrounding the ongoing applications for Bitcoin spot ETFs.
Aiming for a hard-cap of $5m in presale funding, the early-stage of this emerging project’s presale offers investors a unique opportunity to get in during this early entry point, which could set the stage for life-changing gains.
Ride the ETF Rally with Ease: Bitcoin ETF Token is a Critical Component in Every BTC Trader’s Toolbox
Indeed, Bitcoin ETF isn’t simply a useless meme coin, beyond taking aim at the biggest narrative in crypto – BTCETF has a major utility: Bitcoin ETF news alerts.
The token’s dApp offers traders a live-feed of the latest Bitcoin spot ETF information and news, with sophisticated technology tracking applications real-time at the SEC, and high-speed bots monitoring social media for the latest breaking ETF news.
But a simple feed of Bitcoin spot ETF news only highlights a fraction of Bitcoin ETF token’s potential, with easy-access to real-time update alerts offering sharp traders the opportunity to make market-beating returns stress-free; being amongst the first to hear about privileged Bitcoin Spot ETF news.
This could enable traders to position themselves appropriately in seismic Bitcoin market movements, making Bitcoin ETF token a critical component in every BTC trader’s tool-box this Winter.
Surging Interest in Bitcoin Alternatives Leaves $BTCETF Poised to Outperform PEPEFI Token
Project tokenomics are bolstered by ambitious plans for the incorporation of staking rewards that incentivise long-term holding, alongside a burn mechanism, which will enhance $BTCETF as a ‘digital gold’ alternative, by creating a deflationary mechanism in price.
Set for stage 3 of the Bitcoin ETF project roadmap, an initial burn mechanism will be introduced amid a well-marketed DEX launch, imposing an initial 5% burn tax on transactions – this will be reduced by -1% each time a Bitcoin ETF news milestone is reached.
However, plans are afoot for a larger burn mechanism in stage 4, in a move that will see 25% of token supply burned overtime, this will be conducted in 5% burn intervals – with each supply-side reduction taking place as a Bitcoin ETF news milestone is met.
The milestones for the burn mechanism are as follows:
Milestone 1 – $BTCETF Trading Volume hits $100m – burn tax on transactions reduced from 5% to 4%, and 5% of total supply is burned.
Milestone 2 – First Bitcoin ETF is approved by SEC – burn tax on transactions is reduced from 4% to 3%, and a further 5% of total supply is burned.
Milestone 3- First Bitcoin ETF launch date – burn tax on transactions is reduced from 3% to 2%, and a further 5% of total supply is burned.
Milestone 4 – Bitcoin ETF assets under management (AUM) hits $1bn – burn tax on transactions is reduced from 2% to 1%, and a further 5% of total supply is burned.
Milestone 5 – Bitcoin price hits $100k – burn tax on transactions is reduced from 1% to 0%, and a further 5% of total supply is burned.
This will create a gradual decrease in total supply, eventually leaving around 70% of BTCETF in circulation, with the supply side reduction inducing upside price growth.
And that is without considering the potential for token value accrual driven by demand from traders for access to the ETF news dApp and the ever-present demand for Bitcoin alternatives.
Indeed, 2023 has seen explosive growth in Bitcoin related tokens – with markets showing a real appetite for BRC-20 ordinal tokens, Bitcoin Cloud Mining, and Bitcoin derivatives.
So don’t miss your chance to get in early ahead of the next major Bitcoin rally leg.
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 As PEPEFI Skyrockets 35x in 24 Hours, This Overlooked Bitcoin Project Has Secured $600,000 – Next Big Thing? appeared first on Cryptonews.
