He Pepe Coin (PEPE) price It is up 4% in the last 24 hours, although its move to $0.00000152 today still means it is down almost 20% in the last week.
And while the PEPE has actually risen 60% in the last 30 days, it is still down 64% since reaching an all-time high of $0.00000431 in early May.
Its inability to come close to this record in recent weeks would suggest that PEPE is not going to recapture its former glories, and that the meme token is in a protracted process of terminal decline.
However, new meme tokens are likely to take their place, with Thug Life Token (THUG) being able to raise almost $1 million in its pre-sale, indicating that it could be one of the next trending coins.
Pepe Coin Goes To Zero As PEPE Price Drops 20% In A Week And Thug Life Token Just Raised Nearly $1 Million With Less Than 7 Days Left
The PEPE chart is not in a good position at the moment, and its indicator suggests that further declines are very likely.
PEPE’s 30-day moving average (yellow) continues to fall towards its 200-day (blue), with plenty of room left before it falls below the longer-term average and bottoms out.
At the same time, the meme token’s Relative Strength Index (purple) is languishing below 50 and doesn’t appear to rise any further at this point, with a drop towards 30 or below entirely plausible.
It is also worth mentioning that the support level of PEPE (green) has not really gained ground in the last two weeks, implying that the token not only lacks momentum, but is perhaps not well protected against further declines.
However, while it might be suggested that PEPE won’t be doing much for the foreseeable future, it is interesting that the whales continue to use the meme token as a vehicle for short-term profit.
As such, the coin could continue to see modest rallies in the coming months, which could allow retail investors to press on for quick gains.
However, trying to follow the whales is not always a sensible trading strategy, as PEPE’s recent price history suggests that it will not recover its ATH any time soon.
For this reason, traders may prefer to look for the next hot meme token, and a very good candidate in this regard is Thug Life Token (THUG), an ERC-20 meme coin that has been aligned with gangsta rap and hip hop. -hop. communities
Going into its pre-sale a couple of weeks ago, THUG has already raised close to $1 million, giving a clear indication that investors are rapidly gaining interest in the meme coin.
This number is impressive given that the total was $750,000 yesterday, a sign that things are picking up speed.
This is largely because the THUG pre-sale will end in just under six days, and investors will start rushing to buy some THUG while they can still get it at a discount.
Another factor in the success of pre-sale is the decentralization of THUG, with 70% of its total maximum offer (4,200 million) being allocated to pre-sale.
This level of decentralization has likely reassured investors that the meme token will be decentralized enough to avoid sudden dumps and crashes, something that has plagued the recent wave of new meme coins.
New buyers can still join the pre-sale by going to the official Thug Life Token website, with 1 THUG costing $0.0007.
And since the sale is now taking off, THUG could easily rise well beyond this price when it lists on exchanges in the coming weeks.
Visit Thug Life Token now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.
