Pepe (PEPE) is the best-performing meme coin of the top 5, with weekly gains of 0.75% and 30-day gains of 7.2%.
Although that may not sound like much, Dogecoin (DOGE) and Shiba Inu (SHIB) have seen their prices retreat by 4.1% and 5.2% in the past 7 days as the market has sold off most of yesterday’s rally.
Pepe has seen its trading volumes rise by 3.6% in the past 24 hours. Again, although that percentage may not seem as much, its current volumes account for more than a third of the token’s circulating supply.
At a point when most cryptocurrencies are shedding a significant percentage of their value, PEPE has emerged as the best meme coin to buy amid its resilience.
Investors’ sentiment has improved in the past day as indicated by CoinMarket’s Fear and Greed Index, which has moved from a record low of 15 (Extreme Fear) to 25 (Fear).
Whenever the market steps out of its extremes, this is typically followed by a rally.
Despite this recent positive performance, Pepe has still lost 65.6% of its value since the year started, as a negative macro backdrop has taken a toll on meme coins.
Investors fear that Trump’s aggressive trade policies could result in higher inflation in the near term. If that happens, the Federal Reserve will have no incentive to cut rates this year.
Higher-for-longer interest rates would favor a bearish outlook for meme coins. However, at a point when PEPE is trading nearly 77% below its all-time high from December last year, the token offers more upside potential than downside risks.
Can PEPE Break its $0.00000900 Resistance?
PEPE has been trading relatively range-bound since the beginning of March after it rejected a move above the $0.00000900 level for the first time.
This has been an area of heavy selling two times now, as trading volumes have surged above the average every time the price has touched those levels. Meanwhile, the has also been some heavy buying once PEPE has reached the area between $0.000005150 and $0.00005650.
PEPE’s whales have probably been responsible for accumulating the token at those levels and that is a positive signal as the price could have reached a near-term bottom based on these supply-demand dynamics.
Momentum indicators have improved lately as the MACD’s histogram has posted its second consecutive light red bar, meaning that negative momentum has been slowing down.
However, the Relative Strength Index (RSI) has behaved erratically in the past few days. Although it just crossed above the signal line, it is still too early to tell if this is a true signal or a false positive.
The $0.00000790 level will be critical for PEPE as it will indicate if this is just a retracement or if the latest price floors have been strong enough to kick off a full-blown recovery.
Apart from the OG Pepe, a Pepe-themed crypto presale called MIND of Pepe (MIND) has captivated investors since it was launched in January this year and has managed to raise nearly $8 million already.
Best Meme Coin to Buy in Presale: MIND of Pepe (MIND)
MIND of Pepe (MIND) is an AI agent that leverages the power of a popular meme – Pepe the Frog – and artificial intelligence to captivate large audiences across social media networks like X.
The agent is designed to debate interesting topics associated with meme coins with high-profile accounts and users in general to build a large following and collect insights that it can pass on to $MIND holders to help them navigate these difficult market conditions.
As MIND of Pepe’s influence grows, it can also launch its own meme coins and give token holders privileged access to private sales so they can reap the highest returns once these assets are offered to the general public.
To buy $MIND, simply head to the MIND of Pepe website and connect your wallet. You can either swap USDT or ETH for this token or use a bank card to make your investment.
