PEPE Soars 17% To New All-Time High, But Traders Turn To This 2.0 Meme Coin For Potential 1000X Gains

The Pepe price jumped by 17% in the last 24 hours to trade at $0.00001058 as of 4:00 a.m. EDT on trading volume that skyrocketed 50% to $2.45 billion.

The PEPE price is on a roll after surging 50% in a week and a massive 869% over the past month.

Pepe has finally lost another zero after the recent surge, like many have speculated it might over the past few days. The coin has hit a new all-time high, too, and its supporters are still waiting to see how high the meme coin can actually go this time.

Pepe Price Prognosis

The PEPE price lost another zero mere hours ago, and the question that everyone in the meme coin community is asking now is: How much further can it go?

The token has struggled with a resistance at $0.000009 for most of March 13, only to break it as the day was coming to an end. Since then, the new surge took it to new levels, where it hit a new all-time high, but it also encountered a new resistance at $0.00001075.

Looking at some of its technical indicators, it is clear that PEPE has reached a major barrier and that its short-term performance is unclear. For example, the token’s Bollinger bands have seen a massive widening, which is a strong, bullish signal that the price surge might continue.

However, at the same time, the token’s Relative Strength Index (RSI) value has gone deeply into the overbought zone, which typically suggests that a price drop is to be expected. Once the token enters the overbought zone, many treat it as the time to take profit and withdraw, and PEPE’s RSI value climbed to 79.52 recently. Since then, it saw a small drop, which currently has it at 73.43.

Despite this, the token is still clearly in the overbought zone. With one technical indicator suggesting an even larger surge and another showing that a correction might be coming — there is strong uncertainty. Chances are that PEPE will see a minor correction before a new bullish wave pushes it back up, and potentially break the resistance that has been keeping the token from heading further up.

Alternatively, given the bullish nature of the market right now, when both Bitcoin and numerous altcoins breached all former records, PEPE fans might simply ignore technical indicators and just keep buying and pushing the token to a new ATH.

Promising Alternatives to Pepe

While meme coin fans are rushing to buy Pepe and other leading meme cryptocurrencies, many experts have instead turned to Sponge V2 (SPONGE).

This is a new version of the project launched in 2023, which was based on the SpongeBob SquarePants meme. As such, it has nothing to do with actual SpongeBob SquarePants or Nickelodeon — it was simply inspired by the memes surrounding the character.

The project launched its first version in 2023, only to see a 100x pump that attracted thousands of investors and millions of dollars.

Now, the devs decided to discontinue the old SPONGE and launch V2, which will be even bigger and better, and potentially see a 1000x pump. At least, this is the hope of supporters who have started buying massive quantities of the asset.

📣 Attention, #SPONGERS!

Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥

Learn more about the token details below 👇https://t.co/TCdxgXx40w

🧵1/3 pic.twitter.com/YZzXOlKmHY

— $SPONGE (@spongeoneth) February 6, 2024

Right now, SPONGE is selling for $0.0033193, and the total amount of SPONGE tokens that have been bridged and staked sits at $30.9 million.

With SPONGE V2 rumored to be listing on additional top-tier exchanges imminently, now might be the last chance to buy before more explosive gains.

Investors can buy SPONGE V2 tokens on the official website here in exchange for ETH and USDT.

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