Can PEPE’s bullish signal help it replicate Solana-based POPCAT’s 59% hike?

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    PEPE’s volume fell while POPCAT’s increased, indicating dominance for the latter
    The price of PEPE might drop to $0.0000070 as buying momentum slumped

As a researcher with experience in analyzing cryptocurrency markets, I have closely observed the recent trends of PEPE and POPCAT. Based on the available data, it appears that the latter is currently dominating the scene.

As a researcher examining current trends in digital assets, I’ve noticed an intriguing pattern – large accumulations of tokens are increasingly associated with memecoins like PEPE, rather than traditional assets such as Dogecoin, Frogcoin, or Catcoins. On the 25th of April, a major market player made headlines by transferring an impressive 10.99 billion PEPE tokens from Binance.

Based on Spot On Chain’s report, the mentioned individual owns approximately 703.75 billion PEPE tokens. This asset has brought about an impressive earnings of over $2.65 million. However, although these returns represented a substantial increase of around 101%, the recent withdrawal indicates that PEPE might have reached a peak in its price trend on the graphs.

As of now, the value of the token stood at $0.0000075, marking a substantial 40.66% increase over the past week. This upward trend is noteworthy given the general market trend of cryptocurrencies remaining relatively stable during this period.

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If the current accumulation trend persists for a few more days, PEPE could potentially challenge Popcat (POPCAT) in terms of market presence. For those who may not be familiar, Popcat is a memecoin that runs on the Solana (SOL) blockchain. In other words, if PEPE continues to grow at its current pace, it might become a serious contender for Popcat’s position in the crypto world.

Capital leaves frogs to cats

As an analyst, I’ve noticed an intriguing trend in the cryptocurrency market over the past few months. Specifically, I’ve observed significant price increases for certain digital currencies like POPCAT and PEPE. On a Year-to-Date (YTD) basis, the price of POPCAT has skyrocketed by an astounding 5,671%, whereas PEPE’s price has also seen impressive growth, rising by approximately 440%.

As a researcher studying the cryptocurrency market, I’ve observed a notable disparity in the inflow of funds between PEPE and cat-themed projects. The latter have seen an impressive surge in investment, leaving PEPE trailing behind.

As a researcher studying the cryptocurrency market, I’ve noticed an intriguing trend: whales have been purchasing large quantities of PEPE token recently. If this buying pattern continues, PEPE might attempt to match the impressive 59.01% price surge experienced by POPCAT within the past 24 hours.

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As a crypto investor, I examined the potential comparison between two projects by evaluating their on-chain conditions through the lens of AMBCrypto. To start with, I assessed the trading volumes for each project, keeping in mind the underlying enthusiasm towards a particular digital currency.

PEPE does not have POPCAT’s strength

When I penned down these words, PEPE‘s trading volume stood at an impressive $1.18 billion. On the other hand, POPCAT reported a more modest volume of $181.77 million. Given such a substantial disparity, it was evident that PEPE had been leading the charge over the recent period.

Despite a decrease in the frog-themed token’s volume, there was a significant increase in the volume of POPCAT on the contrary. Regarding price, this surge in volume could potentially lead to an upward trend for POPCAT.

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If this holds true, any hypotheses regarding a potential reversal could be disproven. Conversely, PEPE‘s decreased trading activity over the past day may undermine its ongoing price rise.

From my perspective as a researcher, a significant drop down to approximately $0.0000070 could be a potential scenario. Following this decline, there’s a possibility for the price to rebound. Nevertheless, this outcome will materialize only if the demand for buying intensifies.

As a researcher studying the cryptocurrency market, I noticed that the Relative Strength Index (RSI) for PEPE on its 4-hour chart stood at 44.50. This suggested to me that the buying momentum for this meme coin might have begun to ease up, potentially leading bulls to explore other investment opportunities within the memecoin sector.

Realistic or not, here’s POPCAT’s market cap in PEPE terms

As an analyst, I would rephrase it as follows: If the reading continues to decrease, there’s a possibility that the predicted price ($0.0000070) may hold true. However, it’s essential for traders to monitor the trend’s momentum closely. Should the Relative Strength Index (RSI) dip into the oversold territory at or below 30.00, a considerable price recovery could be on the horizon.

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2024-04-27 11:19