Solana News, CcSn

Pepe’s Plummet: Can This Solana Newcomer Reinvigorate a Slumping Market?

Posted on by CryptoCoinstart News Report
Pepe's Plummet: Can This Solana Newcomer Reinvigorate a Slumping Market?
15
Jun

Pepe ($PEPE) Price Analysis

Popular Solana meme coin Pepe ($PEPE) has experienced significant intraday price losses compared to other major meme coins.

  • At the time of writing, $PEPE has dropped by 4.4% overnight to reach $0.00001178.
  • Over the past seven days, Pepe’s price has fallen approximately 17%.
  • In contrast, Dogecoin ($DOGE) fell by 1.6% overnight and 11.3% over the week, trading at $0.1416.

Broadly, meme coin holders are feeling the effects of a market-wide dip, with Bitcoin ($BTC) losing 1% overnight and 6% over the week, trading around $66,935 on Friday afternoon UTC.

Pepe experienced a significant rally in May, reaching an all-time high of $0.00001717 on the 27th. However, it has since encountered resistance, causing a 30% pullback from its peak.

The relative strength index (RSI) for Pepe stands at 32, nearing the oversold threshold of 30, suggesting a potential continuation of the price correction or sell-off, despite strong support seen over the last week.

Investors Shift Focus to Sealana ($SEAL)

As interest in Pepe wanes, investors are turning to newer Solana-based meme coins, particularly Sealana ($SEAL), which has garnered attention for its promising potential.

Sealana is inspired by Gamer Guy, a popular character from South Park, and has quickly gained traction in the meme coin market:

  • Coins like DogWifHat ($WIF), Bonk ($BONK), Book of Meme ($BOME), and Popcat ($POPCAT) have risen rapidly to become top ten meme coins within a year of their launch.
  • Sealana ($SEAL) has raised over $4 million since its presale launch two months ago and is poised to join the ranks of successful meme coins.

The presale for Sealana ends on June 25 at 6PM, offering investors a fixed price of $0.022 per token. This presents a potential opportunity for early investors:

  • A $100 investment at the current price yields approximately 4,545 $SEAL tokens.
  • If the price reaches $1, the investment could be worth over $4,500.
  • At $5 per $SEAL, the same investment could exceed $20,000.

With Pepe’s price decline, the emergence of Sealana as a promising new meme coin is attracting significant investor interest.

CryptoCoinstart News Report