Recently, the meme coin market has seen an uptick in interest, with numerous tokens registering modest price increases.
Pepe coin ($PEPE) has been one of the main beneficiaries, with the token’s price pumping 19% in the last 24 hours.
Other meme coins like Wall Street Memes ($WSM) and Cowabunga Coin ($COWABUNGA) have also seen a boost in momentum amid the renewed hype.
Increased Trading Volume Fuels $PEPE Breakout Attempt
The price of $PEPE is currently hovering around $0.00000126 and is inching closer to the 20-day Exponential Moving Average (EMA) on the daily time frame.
This EMA, a commonly used indicator for short-term trends, was last broken in mid-July and hasn’t been breached since.
Given the current bullish momentum surrounding $PEPE, some investors speculate that the price can break back above the 20-day EMA – thereby confirming a short-term trend reversal.
The likelihood of this occurring is increasing, with CoinMarketCap data revealing that the $PEPE trading volume hit $197 million during the past day, 125% higher than the previous 24 hours.
If the current surge in buying volume can be sustained and $PEPE can soar above the nearby EMA, it would signal that the bears have lost control for the first time in nearly a month.
Meme Coin Market Resurgence Lifts Pepe Coin’s Price
Interestingly, no clear catalysts exist for $PEPE’s current positive price movements.
The coin’s creators haven’t released any major upgrades or announced any new use cases lately, with the price rising based solely on hype and speculation.
This highlights the fickle nature of the meme coin space, where prices often get pushed higher on nothing more than social media-driven buzz.
$PEPE is emblematic of this trend, with its value undergoing frequent fluctuations since its introduction in April.
However, CoinGecko data shows that the value of the entire meme coin market has increased by 5.4% in the past day, hitting $17.9 billion.
This hints that speculative interest is on the rise across the sector as a whole.
As such, those invested in $PEPE will be watching closely, hoping that the market’s momentum continues to drive the token’s price upwards.
Other Meme Coin News: Wall Street Memes Presale Raises $22 Million as Hype Builds Pre-Listing
While well-established meme coins like $PEPE are experiencing a resurgence in interest, new projects are also making their mark.
One example is Wall Street Memes ($WSM) – a new token that has captured investors’ attention due to its meme-style branding and colossal community backing.
With its ongoing presale having already raised over $22.5 million, $WSM has established itself as a breakout meme coin star – even before its official exchange launch.
Backed by an experienced team, Wall Street Memes also benefits from one of the largest communities in crypto, which stands at over 1.1 million people worldwide.
Moreover, Wall Street Memes’ Telegram channel now exceeds 17,000 members, with discussions often centering around how high the $WSM price could go once it hits the open market.
The project’s humorous content on social media has even attracted direct engagement from Elon Musk – further adding to Wall Street Memes’ allure.
With the Wall Street Memes presale currently in its 28th stage out of 30, time is running out for investors to join at a discounted price before the token’s public launch.
TMNT-Inspired Cowabunga Coin Gains Traction in Trending Presale
Another emerging meme coin gaining immense traction is Cowabunga Coin ($COWABUNGA) – a new community-backed token inspired by the Teenage Mutant Ninja Turtles TV show.
$COWABUNGA is currently in its presale phase, which has already raised over $35,000 in its first week.
The project’s tokenomics breakdown channels the spirit of the TMNT heroes, with allocations for the presale, DEX liquidity, community rewards, CEX listings, and partnerships.
This appealing tokenomics structure, combined with the retro branding, has generated substantial hype for $COWABUNGA.
Cowabunga Coin’s Telegram channel has also seen rapid growth, doubling in size over the past seven days.
Notably, crypto influencer and YouTuber Jacob Bury, who boasts an audience of over 20,000, recently featured $COWABUNGA in a video.
In this video, Bury praised the token’s branding and tokenomics – and highlighted his optimism about its future DEX listing.
If the current level of hype translates into real demand, Cowabunga Coin may be one to monitor in the weeks ahead.
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