The meme coin Pepe (PEPE) has seen a massive 55% price increase over the past week, riding the hype around altcoin season.
PEPE remains the world’s third-largest meme coin by market cap and looks to be nearing Shiba Inu (SHIB) in the rankings.
Meanwhile, fellow meme coin Meme Kombat (MK) continues to gain traction in its presale phase and features AI-powered PEPE battles in its flagship battle arena.
PEPE Bounces Back with 160% Rise from October’s Low
PEPE is trading around $0.00000162 at the time of writing after posting six bullish daily closes in a row.
The token quickly cleared the strong resistance zone around $0.00000135, taking price to its highest level since July 15.
PEPE is now up a whopping 160% from October’s low, marking an impressive comeback for the token many considered “dead.”
PEPE’s trading volume has seen an equally impressive surge in the past week, with daily volume now standing at over $543 million – a 35% increase in the past day.
This shows that interest is rapidly returning for the formerly left-behind meme coin.
Social metrics for PEPE also showcase its resurgence, with the official Twitter page growing to over 358,000 members.
PEPE has even made it onto CoinMarketCap’s list of the top trending cryptocurrencies in the past day.
Although the token still lacks a clear use case, investors are betting that the power of memes and hype alone can drive further price appreciation.
Speculators Begin to Seek Exponential Gains in Altcoin Season
PEPE’s impressive surge is fueled mainly by the broader conditions of altcoin season.
As Bitcoin (BTC) and Ethereum (ETH) continue gaining ground, investors are searching for the next trending crypto that could produce sizable returns.
Meme coins and low market cap tokens often benefit the most from these market cycles as speculators begin to take on more risk.
This dynamic played out to great effect in early 2021 when Dogecoin (DOGE) had an explosive rally due to peak altcoin mania.
A similar situation is playing out in the final months of 2023, with major altcoins like Solana (SOL) and Avalanche (AVAX) posting enormous gains.
Funds are beginning to rotate out of Bitcoin and into higher-risk coins – such as PEPE.
Given PEPE’s significant price potential, as evidenced by this week’s 50% pump, traders are eager to capitalize on the buzz around altcoins and meme coins.
AI-Powered Meme Coin Mascots Fight for Supremacy in Meme Kombat Gaming Platform
As seen with PEPE’s massive rise, meme coins with social media backing are some of the hottest projects on the market right now.
Another project capitalizing on this trend is the new GameFi platform, Meme Kombat (MK).
Meme Kombat has made waves in recent weeks, as its token presale has now raised over $2.5 million from eager investors looking to get exposure to the next potential breakout star.
The platform features AI-powered battles between famous meme coin mascots like Doge, Shiba Inu, and Pepe the Frog.
Players can bet on match outcomes using the native MK token, with the chance to earn sizable rewards for picking the winner.
MK tokens can also be used for staking, giving holders passive income potential on top of betting prizes.
Moreover, with half the total supply reserved for presale participants, early adopters stand to gain significant upside if Meme Kombat gains traction.
The project is already beginning to turn heads on social media, with Meme Kombat’s Telegram channel now boasting 5,100 members.
Meme Kombat has even been audited by blockchain security firm Coinsult, ensuring its smart contracts are safe and stable.
For those looking to diversify into more speculative altcoins, Meme Kombat presents a high-risk, high-reward opportunity that could be ideal for meme coin enthusiasts.
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