The price of Pepe Coin (PEPE) has declined by 5% in the past 24 hours, dropping to $0.000000818339 as the cryptocurrency market as a whole falls by 3% within the same timeframe.
PEPE is now down by 8.5% in a week and by more than 25% in the past fortnight, with the meme token also having fallen by 35% in a month and by 81% since reaching an all-time high of $0.00000431 in early May.
Such drops make it seem as though PEPE is currently in a terminal state of decline, although some whales have begun accumulating the coin again, indicating that it could witness a (short-lived) resurgence soon.
But even if it doesn’t, other new cryptos will emerge to take its place, with the success of the Sonik Coin (SONIK) presale suggesting that it could be the next runaway meme token.
Is Pepe Coin Going to Zero? PEPE Price Plummets 25% in 7 Days
Assuming that PEPE will indeed recover sooner or later, then now would indeed be a very good time to buy the meme token, seeing as how its indicators have hit rock bottom.
Not only has its price fallen well below its 30-day moving average (yellow), but its relative strength index (purple) has just touched 30.
This would indicate that PEPE is oversold and should rebound very soon, although its declining support level (green) also highlights how further falls are entirely possible before the coin corrects itself.
As a pure meme token, more declines are certainly a real possibility, given that PEPE has now fundamentals or utility to support its price.
However, there is some on-chain evidence to suggest that whales have begun buying the coin again, presumably in anticipation of further rallies they can profit from.
Of course, these same whales are likely to dump the token again sooner or later, meaning that PEPE is a risky vehicle for ordinary retail investors to use.
And in the longer term, whales may end up growing tired of PEPE as soon as the wider cryptocurrency becomes more bullish and returns to more sustained growth.
Based on this view, PEPE may recover to around $0.0000010 in the next few days or weeks, but after another pump-and-dump cycle it could end up falling even further than its current price, down to $0.00000070.
Meme Coin Experts Shift to This New Coin Before it Lists on Exchanges
In the face of PEPE’s potential long-term decline, many investors are turning to newer meme tokens, with one such coin in particular benefitting from a considerable growth in interest in recent days.
This is Sonik Coin (SONIK), a new ERC-20 meme token that has raised just over $900,000 since beginning its presale around a month ago.
SONIK has based its memes and online presence around the still hugely popular Sonic the Hedgehog franchise, with its humorously twisted take on the beloved character helping to attract investors to its presale.
In keeping with its Sonic-related memes, SONIK has a total maximum supply of 299,792,458,000 (the speed of light in mm/s), while it’s also aiming to reach a $100 million market cap as quickly as possible.
Also helping it to attract investors is its decentralized tokenomics, with 50% of its overall supply going towards its presale, and another 40% going to staking rewards (the final 10% will go towards exchange liquidity).
Another key feature boasted by SONIK is staking, with its use of the Ethereum blockchain meaning that its holders can use it to earn a passive income from staking their tokens.
This helps to explain why its presale has already done so well, and while there’s only four days left before the sale ends, new investors can join in by going to the coin’s official website, where 1 SONIK costs $0.00014.
As soon as the sale ends, the meme token willl list on trading platforms, where it could end up rising very fast.
Visit Sonik Now
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.