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Zafar Naik
Zafar Naik
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- Jul 10, 2024 15:13 UTC
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Meme Coin PeiPei Leaps 28,000%, Eyes $500 Million Market Cap
PeiPei coin, a red frog meme token launched in June, has seen huge growth (over 28,000%).
Technical indicators suggest a possible price drop, but overall sentiment is bullish.
PeiPei has a growing community and has attracted a large whale investor. It could reach a market cap of $300-500 million
Yesterday’s trends are now old news – the crypto world sure moves fast!
Today’s hot topic is PeiPei coin, a vibrant red frog meme token that’s making waves. Launched just a month ago on Uniswap, PeiPei boasts explosive growth and is already listed on major exchanges like Poloniex, LBank, and Gate.io.
Here’s everything you should know!
The Rise of PeiPei
PeiPei has become a top gainer, securing the leading position among the top 500 gainer tokens. In the past 24 hours, this red frog meme token saw a 51.70% rise in trading volume.
Since its inception in June, PeiPei has experienced a staggering 28,938.53% rise, reaching its all-time high (ATH) yesterday.
Understanding the Market Trends
Currently, PeiPei is riding its major moving averages (MAs). After a 19.58% fall from its ATH, the meme token is now trading at $0.063129. The Fibonacci tool shows major resistance at $0.063848.
The current price sits in a support zone, with the strongest daily support at $0.062502. If PeiPei drops from its current support, the next support level, according to the Fibonacci tool, will be near $0.062940.
The Community is Growing!
Just a month after its launch, PeiPei has gained almost 27,000 holders. At its peak, PeiPei recorded a market cap of $163.17 million, with the current market cap at $136.01 million.
The MACD indicates high bullishness, but the RSI shows it is oversold and may need a correction. If it falls, $0.062940 should act as support per the Fibonacci tool.
Social Media Buzz
PeiPei’s official Twitter handle has quickly amassed a substantial following, boasting a community of 15.7k followers. The official account posted a screenshot of a significant purchase worth 68.60 ETH by an unknown whale, a very positive sign. Dexscreener shows high trading rates for this meme token.
If the developer maintains the momentum, the red frog has a high chance of reaching a market cap of $300 million to $500 million in a short time. However, meme coins are highly volatile, so investors should exercise caution.
PeiPei’s rapid rise and growing community signal its potential, but only time will tell if this red frog can leap to new heights.
Do you think PeiPei has the potential to become the next big meme coin?
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