Pepe Price Explodes As Altcoins Rebound, What Are Next Meme Coins?

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The Pepe meme coin saw a strong rally today Wednesday after the altcoin capitulated yesterday.

PEPE price rose nearly 8% today, leading the altcoin’s rally even as Bitcoin fails to display considerable bullish strength.

Pepe’s rebound reaffirms that meme coins would remain the best performing asset class during this bull market. New meme tokens such as MAGA, Sealana and PeiPei are also in high demand among investors looking for returns of 10 to 100 times.

Why is Pepe Price mobilizing today?

Like the rest of the cryptocurrency market, Pepe coin has faced significant selling pressure due to growing macroeconomic risks.

Following the Warmongering FOMC meeting Last Wednesday, PEPE price corrected by almost 25%, trading as high as $0.000010 yesterday.

However, the frog-themed meme coin survived 3 separate tests of the $0.00001 support level, printing a strong rally after the last attempt. Pepe is up almost 8% since then and is trading at $0.0000114 at press time with a market cap of $4.86 billion.

Pepe coin once again benefited from its strong correlation with Ethereum. In effect, it acted as a leveraged bet on ETH during this bull cycle.

The meme coin exploded after the U.S. Securities and Exchange Commission declined to recommend any enforcement action against Consensys as part of its ongoing investigation. This means that the SEC will no longer charge Consensys for violating securities law for its sale of ETH.

Industry insiders view this as a major victory for Ethereum and a possible indication that the SEC may completely abandon its claims that ETH is a security.

Unsurprisingly, the price of Ethereum jumped by 6%, while Pepe – being a beta game on ETH – rose by over 10%.

Is a new all-time record next for Pepe?

Experts support Pepe to maintain its bullish trajectory over the coming days. For example, UNKNOWN MERCHANT (@Learnernoearner) – a popular crypto analyst with over 53,000X followers – opened a long position in Pepe, with a final price target of $0.0000123. This would represent an additional 8% upside from the token’s current price.

Pepe coin’s weekly RSI has also returned to April lows, which could signal another impending push to new highs.

Additionally, the Pepe/BTC trading pair is currently range-bound in a descending range. Experts believe that the pair could be ready for a bullish breakout, given that BTC continues to show weakness while altcoins show signs of a substantial recovery.

Indeed, the spot Ethereum ETFs are expected to begin trading on July 2, which could mark the start of the altcoin’s bull run. Due to Pepe’s correlation with ETH, it could become one of the best performing cryptocurrencies in such a scenario and reach a new all-time high.

Which Meme Coins Will Explode Soon?

Although Dogecoin is perhaps the largest meme token in terms of size, Pepe has become the market leader during this bull run.

A bullish continuation of Pepe is bound to trigger explosive price action for the new meme coins. For example, Peipei – a meme coin nicknamed the Chinese Pepe – has already risen over 200% this month and is poised to see a major bullish move in the coming days.

Investors who missed PeiPei are now turning to Sealana, a new Solana meme coin that is currently on pre-sale and scheduled to launch by the end of June. As the Sealana presale ends on June 25, the FOMO surrounding the token is reaching a fever pitch.

$SEAL has already raised over $5 million in its presale and is considered by smart money traders to be the next 100x meme coin.

Likewise, investors believe that MAGA meme piece – a relatively new token launched in support of Donald Trump – could see significant growth in the coming days, especially with the US presidential debate next week. The meme coin is already up 15% today.

*Cryptonomist did not write the article or test the platform.

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