Dogecoin and Pepe Prices Up as Market Turns Bullish & Traders Also Bet On This New Meme Coin
It’s been a positive 24 hours for meme coins, with Dogecoin (DOGE) and Pepe (PEPE) posting sizable gains.
DOGE has soared to the $0.078 level, while PEPE has reached $0.00000125, erasing most of the losses sustained over the weekend.
However, it’s not just established meme coins that are making moves – the new gaming coin Meme Kombat (MK) is also turning heads and has recently surpassed the $1.7 million funding milestone in its presale phase.
Dogecoin Shows Impressive Resilience with 13% Rebound
DOGE is up almost 13% from Tuesday’s low of $0.069, showcasing impressive resilience in the face of bearish momentum.
Before this reversal, DOGE had tapped the $0.082 level before dropping by 15%.
However, the price appears to have rejected the 50-day exponential moving average (EMA) as support on the 4-hour time frame, using it as a base to push back up.
A probable near-term target for DOGE is a return to Saturday’s high, potentially representing an additional 4% rise from the coin’s current price.
Despite an uptick in bullish momentum, spot trading volumes are down 6% over the past 24 hours to $626 million.
This suggests that a smaller group of traders could have driven the recent price increase rather than widespread market participation.
Nonetheless, the DOGE price forming clear higher highs and higher lows on the daily chart suggests the previous uptrend is resuming, signaling increasing investor confidence.
Pepe Coin Mirrors DOGE’s Trajectory & Recovers After Sharp Drop
This positive trajectory for DOGE mirrors the rebound seen in PEPE, which also shows signs of recovery.
Like DOGE, PEPE had pulled back from Friday to Tuesday, losing over 21% of its value.
However, PEPE’s rejection of the $0.00000108 level as support on the 4-hour chart has helped reignite its bullish momentum.
PEPE is also in an uptrend on the 4-hour time frame, indicating that the bulls may have regained control.
There hasn’t been any clear catalyst for the recent rebounds for DOGE and PEPE, suggesting that these moves could be driven by market sentiment and technical factors.
The recent release of better-than-expected US CPI data might have contributed to a more positive outlook in the broader crypto market, benefiting both meme coins.
New Entrant Meme Kombat Captures Investor Interest with Engaging Staking & Wagering Mechanics
This uptick in sentiment for meme coins like DOGE and PEPE coincides with the rising interest in a new entrant to the space – Meme Kombat (MK).
Meme Kombat is an innovative new meme coin that brings together the world’s most popular meme coin mascots, like Pepe the Frog and Doge, into an arena battle game with integrated betting and staking features.
Players can wager MK, the platform’s native token, on battles between these mascots, with outcomes decided by advanced AI technology.
Winners of these bets can win additional MK tokens, adding an engaging and interactive element to the experience.
A built-in staking protocol also allows MK holders to earn up to 644% APY on their tokens.
So far, Meme Kombat’s presale has attracted over $1.7 million from investors keen to get involved early.
The project is led by crypto expert Matt Whiteman, who previously served as COO of Phat Loot DeFi, adding credibility.
This credibility is boosted further by the fact that prominent crypto influencers are also taking notice, with Oscar Ramos speculating that MK could be a “$1,000,000 memecoin.”
With meme coins surging in popularity once more, Meme Kombat’s unique blend of gaming and crypto-gambling elements could make it a breakout success.
For investors seeking exposure to this exciting sector, MK’s presale presents an intriguing opportunity.
Visit Meme Kombat Presale
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