As DEX launched tokens continue to undertake explosive rallies on crypto markets, Pepecoin spin-off PEPEPE has posted an eye-watering +33,000% move overnight, but could this low cap gem be next?
Recent months have seen a huge trend in explosive DEX-traded token moves, with countless moon-shots garnering significant attention, including the ever-popular APX, SAMBO Bot, Baby Meme, TIME, ROCKY and IO.
— @insidereca (@insidereca) November 22, 2023
The jaw-dropping rally has seen PEPEPE skyrocket to the top of DEXTool’s hot coins, with the moon-shot price action adorning PEPEPE the title biggest daily gainer in crypto.
But following the sensational price action which beat out rivals like BullDoge and DumbMoney token, is PEPEPE destined to dump? Lets take a look at the charts.
PEPEPE Price Analysis: Can PEPEPE Sustain High Flying Price Action Or Is This Moon-Shot Destined For a Crash Landing?
As PEPEPE sustains upside pressure, PEPEPE is currently trading at a market price of $0.0007406 (representing a 24-hour change of +26.89%).
This comes following a titanic launch at just 9AM on November 22, which saw PEPEPE gain monumental traction during the second hour of trading in an explosive +3,665% move.
Subsequent price action remained relatively modest over the remainder of the day, with a healthy support zone established throughout prolonged consolidation around $0.0006.
However, at around 3AM, as long-standing retracement threatened to break PEPEPE’s bullish pendant structure, another huge candle emerged driving price up a further 22%.
This triggered further upside, which saw PEPEPE hit a top and all-time high at $0.000766 around 8AM this morning.
Now threatening to enter retracement, PEPEPE finds itself in make-or-break posturing as price seems intent on testing lower support at $0.00073.
Yet, stood at an impressive $4m market cap despite just a small band of 266 holders, price action seems tentative here – and this could be in part be explained by the low liquidity with just $6.28k available for sells.
This explains the throttled volume which only stands at $13.27k currently; versus $226k of volume the day before – revealing the honeypot.
But while PEPEPE token remains suspicious, an alternative token with a vetted team is exploding in similar fashion in the midst of significant hype around Bitcoin Spot ETFs.
This PEPEPE Alternative Token Could Skyrocket Amid Bitcoin ETF Bullrun – Don’t Miss Out
A new Bitcoin alternative presale launched this week, offering eagle-eyed traders the opportunity to make it big on unfolding Bitcoin ETF rumors, without having to eat the $37,000 cost of becoming a wholecoiner.
Bitcoin ETF Token ($BTCETF) is currently trading at a market price of $0.0056 in funding round stage 1 with an alluring $1,407,650 raised in the opening week of the presale.
Designed and built with skyrocket potential in mind, this promising token aims to bank big on market excitement surrounding the ongoing applications for Bitcoin spot ETFs.
Aiming for a hard-cap of $5m in presale funding, the early-stage of this emerging project’s presale offers investors a unique opportunity to get in during this early entry point, which could set the stage for life-changing gains.
— BTCETF_Token (@BTCETF_Token) November 23, 2023
Ride the ETF Rally with Ease: Bitcoin ETF Token is a Critical Component in Every BTC Trader’s Toolbox
Indeed, Bitcoin ETF isn’t simply a useless meme coin, beyond taking aim at the biggest narrative in crypto – BTCETF has a major utility: Bitcoin ETF news alerts.
The token’s dApp offers traders a live-feed of the latest Bitcoin spot ETF information and news, with sophisticated technology tracking applications real-time at the SEC, and high-speed bots monitoring social media for the latest breaking ETF news.
But a simple feed of Bitcoin spot ETF news only highlights a fraction of Bitcoin ETF token’s potential, with easy-access to real-time update alerts offering sharp traders the opportunity to make market-beating returns stress-free; being amongst the first to hear about privileged Bitcoin Spot ETF news.
This could enable traders to position themselves appropriately in seismic Bitcoin market movements, making Bitcoin ETF token a critical component in every BTC trader’s tool-box this Winter.
Surging Interest in Bitcoin Alternatives Leaves $BTCETF Poised to Outperform $PEPEPE Token
Project tokenomics are bolstered by ambitious plans for the incorporation of staking rewards that incentivise long-term holding, alongside a burn mechanism, which will enhance $BTCETF as a ‘digital gold’ alternative, by creating a deflationary mechanism in price.
Set for stage 3 of the Bitcoin ETF project roadmap, an initial burn mechanism will be introduced amid a well-marketed DEX launch, imposing an initial 5% burn tax on transactions – this will be reduced by -1% each time a Bitcoin ETF news milestone is reached.
However, plans are afoot for a larger burn mechanism in stage 4, in a move that will see 25% of token supply burned overtime, this will be conducted in 5% burn intervals – with each supply-side reduction taking place as a Bitcoin ETF news milestone is met.
The milestones for the burn mechanism are as follows:
Milestone 1 – $BTCETF Trading Volume hits $100m – burn tax on transactions reduced from 5% to 4%, and 5% of total supply is burned.
Milestone 2 – First Bitcoin ETF is approved by SEC – burn tax on transactions is reduced from 4% to 3%, and a further 5% of total supply is burned.
Milestone 3- First Bitcoin ETF launch date – burn tax on transactions is reduced from 3% to 2%, and a further 5% of total supply is burned.
Milestone 4 – Bitcoin ETF assets under management (AUM) hits $1bn – burn tax on transactions is reduced from 2% to 1%, and a further 5% of total supply is burned.
Milestone 5 – Bitcoin price hits $100k – burn tax on transactions is reduced from 1% to 0%, and a further 5% of total supply is burned.
This will create a gradual decrease in total supply, eventually leaving around 70% of BTCETF in circulation, with the supply side reduction inducing upside price growth.
And that is without considering the potential for token value accrual driven by demand from traders for access to the ETF news dApp and the ever-present demand for Bitcoin alternatives.
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.
The post PEPEPE Coin is Up 33,000% Overnight and Experts Say This Low Cap Gem is Next – Here’s Why appeared first on Cryptonews.