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PEPE

Dogwifhat Surpasses Pepe in 24-Hour Trading Volume

by Ouess January 22, 2024

written by Ouess

The Solana-powered meme coin known as dogwifhat $WIF has surpassed Pepe $PEPE in 24-hour trading volume, marking a significant milestone in its growing popularity, according to data from CoinGecko.

In the last 24 hours, the trading volume for dogwifhat reached an impressive $36.6 million, outshining the well-established favorite, Pepe, which recorded a volume of $35.6 million. This achievement signals a noteworthy shift in the landscape for this emerging digital asset.

Traditionally, Dogecoin and Shiba Inu have dominated the meme cryptocurrency space in terms of trading volume. Dogecoin remains at the forefront with a substantial 24-hour volume of $657,577,938, while Shiba Inu follows with $130.4 million.

However, newer entrants like Bonk ($BONK) and Memecoin ($MEME) are also making waves, boasting respective trading volumes of $51.2 million and $47.6 million.

Dogwifhat, which was previously not as prominently positioned, has experienced a remarkable surge in trading activity, surpassing Pepe in terms of volume.

The meme coin is not only gaining traction in trading volume but also receiving increased recognition on cryptocurrency trading platforms. Binance Futures recently announced the launch of a perpetual contract with up to 50x leverage for dogwifhat, elevating its visibility and potential liquidity. The meme coin is making its mark on both decentralized and centralized exchanges, including platforms like Raydium and Gate.io, appealing to both decentralized finance (DeFi) enthusiasts and traditional traders.

This growing recognition is fueled by a resurgence of interest in Solana-based meme coins. On-chain metrics indicate a surge in network activity for Solana, benefiting tokens like dogwifhat, which recently experienced a substantial rally before stabilizing. The meme coin’s value is rooted in its viral imagery featuring a dog with a hat and the associated meme “wif hat,” which has gained popularity in the crypto community.

January 22, 2024 0 comment

Memecoin

Pepe (PEPE) and Bonk (BONK): Recent Challenges and Price Analysis

by Ouess January 8, 2024

written by Ouess

Pepe (PEPE) and Bonk (BONK), two prominent memecoins, faced significant declines over the past few weeks. Coin Edition’s data from CoinMarketCap revealed PEPE’s drop of about 80% from its peak of $0.00000155 in December.

Similarly, Bonk (BONK) faced a decline from its high of $0.000030 on December 15 to a mere $0.000010 at present, reflecting a significant drop in Solana’s leading meme coin.

Despite their recent struggles, both memecoins had experienced surges that initially brought them into the spotlight. PEPE saw a remarkable 1,813% rise over 365 days, mainly driven by a surge in April 2023. On the other hand, BONK exhibited a more recent 5,185% surge over 90 days, possibly leading to profit-taking by early investors.

Pepe’s Price Analysis:

Examining PEPE’s 4-hour chart, it failed to indicate a breakout pattern, remaining within a descending channel. Recovery attempts were evident, but the overall price action signaled continued descent. The Relative Strength Index (RSI) suggested a potential further decline unless buyers could maintain support at $0.0000010, potentially pushing the price toward $0.0000011.

PEPE USDT Daily chart Source : TradingView

However, the Directional Movement Index (DMI) countered the possibility of an uptrend. Currently, the +DMI (green) was 12.07, while the -DMI (red) stood at 33.85, with the ADX (yellow) at 33.70, giving more weight to the -DMI. This scenario might lead PEPE to consolidate around $0.0000010 or even drop below this level if selling pressure intensifies.

Bonk’s Pattern Analysis:

In the last seven days, BONK faced a 26.75% decrease. On the daily chart, BONK showed signs of being ensnared in a pattern that might not prompt significant movement.

Bonk USDT Daily chart Source : TradingView

An additional concern was the dwindling trading volume for BONK during its recent period. The formation of a symmetrical triangle on the daily chart suggested BONK had been consolidating and might soon experience a breakout or breakdown.

A break below the trendline at $0.00010 could signify a new bearish trend for BONK. Conversely, a breakout above $0.000011 would necessitate buyer activity, potentially signaling the start of a bullish trend. Despite a slight increase to 37.50, the RSI requires more upward momentum to confirm a potential increase in BONK’s price.

January 8, 2024 0 comment

Memecoin

Pepe Coin: Profits and Network Trends Unveiled

by Ouess December 13, 2023

written by Ouess

The data from IntoTheBlock highlights that more than half of the PEPE addresses are currently profitable, showing that a significant portion of holders are ‘in the black.’

Regarding the profitability of Pepe Coin holders, the fact that over 50% of the addresses are in profit suggests that many are likely experiencing gains. However, this doesn’t offer the full picture as market conditions and individual entry points differ.

To gain a comprehensive understanding of Pepe Coin holders’ current status, considering factors like the duration of coin holding, recent market trends, and overall sentiment in the cryptocurrency market—particularly for meme coins like Pepe Coin—would be valuable.

Over 50% of Pepe Addresses Currently Profitable Based on current data, around 54% of PEPE addresses are profitable, indicating potential gains if holders sell their tokens at the current market price. Conversely, about 38% are at a loss, where selling would result in losses. Approximately 8.5% are at the break-even point.

Significant Drop in PEPE Network Activity Over Past Week There’s been a notable decline in PEPE network activity in the last week, with a 30% decrease in new addresses and a 26% reduction in active addresses. Additionally, there’s been about a 19% decrease in addresses that no longer hold PEPE.

Pepe Network Exhibits Modest Growth Trend Although the PEPE network’s growth curve shows a slow pace, there’s been an addition of around 147,000 addresses holding PEPE over the last 30 days. This suggests a steady, albeit gradual, rise in engagement with Pepe Coin.

December 13, 2023 0 comment

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