Pepe’s surge to new high ignites memecoin interest, boosts KangaMoon

on May 22, 2024
  • The price of Pepe (PEPE) reached a new all-time high of $0.0000142 after rising 26% in 24 hours.
  • Pepe led other memecoins higher as Ethereum price jumped amid ETF optimism.
  • KangaMoon could soar alongside top altcoins and memecoins.

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Pepe (PEPE) price hit a new all-time high today, with upside momentum driving interest in other memecoins.

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As traders bank on more gains for PEPE amid the rising optimism around spot Ethereum ETF approval, a look at the broader market suggests Bonk, Floki and Dogwifhat among others could be poised for a massive rally.

Here’s the price prediction for Pepe as well as a look at the potential post-presale performance of the new memecoin project KangaMoon (KANG).

Pepe price hits new all-time high

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Memecoins continue to establish themselves as a mainstay of the crypto industry, gaining traction amid growth for top projects such as Dogecoin, Shiba Inu, Floki and Pepe.

Currently, crypto meme is a sector with a total market cap of over $63 billion. 

The daily trading volume is currently more than $10 billion. Notably, Pepe accounts for nearly a third of this, with its 24-hour volume of $3.12 billion higher than that of Dogecoin ($2.6 billion) and Shiba Inu ($1 billion).

In terms of price gains, the frog-themed meme token on Ethereum, leads other meme sector coins with 24-hour gains of over 26%. This has seen PEPE/USD reach its all-time high above $0.0000142.

Pepe’s price surged to its new ATH as Ethereum price pumped to highs of $3,800. The memecoin is now 116% up in the past 30 days, having recouped recent losses amid the GameStop frenzy.

Pepe price prediction

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Analysts say that this latest performance suggests that a potential approval for ETH ETFs could catalyse further gains.

In a recent post on X, crypto and stock market analyst Mathew Hyland opined that Pepe could be “the best memecoin play for the ETH ETF.”

Another analyst, Altcoin Sherpa, is bullish on PEPE long term. He shared his outlook for the meme coin on X.

“If you’re looking for a big cap meme to long, I think $PEPE is a good one. Good liquidity, strong volume, this one definitely catches up to the others a bit IMO. Not saying it’ll flip doge or anything but should go up more relatively.”

According to Coinglass, Open Interest (OI) in PEPE is up 36% to $167 million. This shows traders are positive when it comes to PEPE price. However, while it could continue higher in price discovery, bulls will be aware of potential pullbacks in tandem with the broader market.  

KangaMoon price prediction

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KangaMoon is a new meme coin project currently in presale. Interest in the project has seen it raise more than $6.9 million from early investors, with significant traction down to the project’s integration of GameFi and play-to-earn.

The project targets an immersive ecosystem where users can tap into a P2E environment, NFTs, competitions and giveaways as well as DeFi. All these offer opportunities that KANG holders can explore and earn rewards.

In this case, KangaMoon offers a unique rewards system with utility that most other meme projects lack.

Anyone who buys KANG in presale can participate in challenges and contests to earn KANG. When Kangaverse launches, these will be set for weekly, monthly and quarterly intervals.

Meanwhile, those who join the bonus presale now can buy at $0.025. This level means KANG’s presale price has increased 400% from the initial price of $0.005.

Ahead of the KangaMoon launch and listing, the current spike in memecoins interest has investors eyeing the potential boom that this token could offer. Listing on the CEX platform BitMart will be a key milestone.

 Find out more about KangaMoon here.

This article is a collaboration between our Editors and our Partners, and it may contain sponsored advertising content and links. The content is not intended as financial advice and is for informational purposes only.

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