The Pepe Coin (PEPE) price continues to cool and some are claiming that the cryptocurrency might now be dead.
PEPE/USD was last changing hands around $0.0000015, according to DEX Tools.
That’s a more than 60% pullback from the cryptocurrency’s recent highs near $0.0000040.
Technicians note that Pepe is in the process of forming a pennant structure that could either signal the start of a new parabolic run higher, or a fresh tumble.
Given that, at current price levels, Pepe still has a market cap of around $620 million, and given that broader cryptocurrency markets continue pulling back, the scope for a fresh surge higher back into billion-dollar market cap status seems limited.
Meanwhile, if Pepe did break to the downside of its current technical structure, that could open the door to a further 70% price decline back to support in the $0.00000045 area.
Whilst its probably too soon to claim that Pepe is dead, these claims would certainly gai validity was the meme coin to crater another 70% from current levels.
That being said, Pepe probably isn’t the best crypto to buy today – Pepe has already enriched its early investors and those entering the market risk paying way over the odds for each token.
Investors looking to get in early on a new, high-potential meme coin should thus look elsewhere.
Here are two meme coins being monitored by the Cryptonews.com team that could be better cryptos to buy today.
After a few days of hype building and an invite-only presale, Copium Token (COPIUM) was launched on Thursday and enjoyed an explosive start to life.
COPIUM hit a high of $0.016 on Thursday, around 16x up versus its presale and listing price of just over $0.001 and has seen massive trading volumes in excess of $44 million in the past 24
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