Pepe Coin is Going to Zero as PEPE Price Falls 20% in a Week and Thug Life Token Just Raised Almost $1 Million With Less Than 7 Days Left
The price of Pepe Coin (PEPE) has risen by 4% in the past 24 hours, although its move to $0.00000152 today still means that it’s down by nearly 20% in the past week.
And while PEPE is actually up by 60% in the last 30 days, it remains down by 64% since hitting an all-time high of $0.00000431 in early May.
Its inability to come close to this record high in recent weeks would suggest that PEPE is not going to regain its former glories, and that the meme token is in the drawn-out process of a terminal decline.
However, new meme tokens are likely to take its place, with the ability of Thug Life Token (THUG) to raise nearly $1 million in its presale, indicating that it could be one of the next trending coins.
Pepe Coin is Going to Zero as PEPE Price Falls 20% in a Week and Thug Life Token Just Raised Almost $1 Million With Less Than 7 Days Left
PEPE’s chart is not in a great position right now, with its indicator suggesting that further falls are very likely possible.
PEPE’s 30-day moving average (yellow) continues to fall towards its 200-day (blue), with there being plenty of space left before it drops 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 look like it will rise any higher at the moment, with a drop toward 30 or lower entirely plausible.
It’s also worth mentioning that PEPE’s support level (green) hasn’t really gained any ground in the past couple of weeks, implying that the token not only lacks momentum but maybe isn’t well-protected against further drops.
However, while it could be suggested that PEPE isn’t going to do much in the foreseeable future, it’s interesting that whales continue to use the meme token as a vehicle for short-term gains.
As such, the coin could continue witnessing modest rallies in the next few months, potentially enabling retail investors to ride along for some quick gains.
However, trying to follow whales isn’t always a sensible trading strategy, with PEPE’s recent price history suggesting that it isn’t going to recover its ATH anytime soon.
For this reason, traders may prefer to hunt for the next hot meme token, and a very good candidate in this respect is Thug Life Token (THUG), an ERC-20 meme coin that has aligned itself with the gangsta rap and hip-hop communities.
Kicking off its presale a couple of weeks ago, THUG has already raised close to $1 million, providing a clear indication that investors are quickly gaining interest in the meme coin.
This figure is impressive, given that the total stood at $750,000 only yesterday, a sign that things are accelerating.
This is largely because the THUG presale will end in just under six days, with investors beginning to rush in order to buy some THUG while they can still get it at a discount.
Another factor in the success of the presale is THUG’s decentralization, with the presale being allocated 70% of its total maximum supply (4.20 billion).
This level of decentralization has likely reassured investors that the meme token will be decentralized enough to prevent dumps and sudden drops, something which has plagued the recent wave of new meme coins.
New buyers can still join the presale by going to the official Thug Life Token website, with 1 THUG costing $0.0007.
And given that the sale is now taking off, THUG could easily rise well beyond this price when it lists on exchanges in the next few weeks.
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 of your capital.
