Over the past week, Pepe Coin has emerged as a cryptocurrency worth taking note of, impressively surging by 9%. This rise in value is notably linked to its association with one of the most talked-about web3 gaming platforms, Meme Kombat, which recently attracted an astounding $165,000 in its presale.
But what does the technical analysis reveal about Pepe Coin’s current status and its potential trajectory?
Pepe Coin Price Analysis
As of October 1st, Pepe Coin is trading at $0.00000080, accompanied by a 24-hour trading volume of $2,776, showcasing a 2.26% increase during this period.
On the CoinMarketCap leaderboard, Pepe Coin currently holds the #4713 position and boasts an astonishing maximum supply of 420,690,000,000,000 PEPE coins.
Key Price Levels for Pepe Coin
From a technical perspective, the pivotal point for Pepe Coin hovers around $0.000000673. The coin faces immediate resistance at $0.000000743, followed by subsequent resistance levels at $0.000000811 and $0.0000009506.
On the flip side, support levels are visible at $0.0000006064, $0.0000005348, with the lowest support marked at $0.0000003957.
The Relative Strength Index (RSI) currently stands at 63, indicating a relatively bullish sentiment as it surpasses the 50 threshold. This suggests robust buying momentum, potentially driving the coin’s value higher.
The 50-Day Exponential Moving Average (EMA) rests at $0.0000007377, with Pepe Coin’s current price positioned above it, signifying a short-term bullish trend.
One noteworthy observation is Pepe Coin’s completion of the 23.6% Fibonacci retracement at $0.0000007958. Successfully surpassing this level could potentially pave the way for the coin to target the 38.2% and 50% Fibonacci levels, estimated at around 0.0000010362 and 0.0000011345, respectively.
Presently, the overall trend for Pepe Coin appears bullish, particularly if it can maintain a price above $0.0000007449, which traders might interpret as a buy signal. Looking forward in the short term, the coin appears poised to challenge the aforementioned resistance levels, especially if the current momentum persists.
Meme Kombat: The Latest Web3 Gaming Platform with a Successful Presale
Fusing the world of meme culture with combat gaming, Meme Kombat has burst onto the scene, promising players two avenues of earnings—active and residual.
The staking Annual Percentage Yield (APY) for the token is an impressive 112%. The project’s financial framework revolves around the Meme Kombat Token ($MK), as outlined in the whitepaper.
Staking takes center stage on the Meme Kombat platform, offering cryptocurrency enthusiasts a dependable source of passive income through APY. Users can securely link their crypto wallets to the platform and stake their $MK tokens.
A substantial portion of the token supply, accounting for 30%, has been allocated for staking and rewarding players within the game. This strategy is aimed at encouraging users to retain their tokens, thus promoting overall stability.
Following an initial 14-day staking period, users will have the option to either withdraw their tokens or continue staking to enjoy the ongoing benefits of the APY.
Meme Kombat has exciting plans on the horizon, with multiple features slated for launch between October and November 2023. Notably, the debut of Meme Kombat Season 1 aims to keep players engaged, while the release of Meme Kombat 2 by the end of 2023 promises enhanced gameplay features to look forward to.