Pepe Breaks Out of Symmetrical Triangle – Could $1 PEPE Be Next?
Partially with the assistance of Elon Musk, the price of the OG Pepe the Frog ($PEPE) meme coin has delivered positive gains so far this year and has experienced a bullish event on the technical front that could result in a short-term upswing.
Last week, the head of Tesla provided a boost to the entire group of digital assets based on the Pepe the Frog character after he changed his profile picture for a meme called “Kekius Maximus” that depicts the popular image created by Matt Furie as a Roman soldier.
This was a direct reference to the movie Gladiator II and the confluence of three popular elements – Pepe the Frog, the movie, and Elon himself – contributed to propel the value of PTF-themed coins to new heights, including PEPE ($PEPE).
In the past seven days, the value of this meme coin has increased by 11.2%.
$PEPE is still the third most valuable cryptocurrency in this category with a market capitalization of $8.7 billion that showcases its huge popularity and loyal fan base.
During this same period, other tokens like Shiba Inu ($SHIB), Dogecoin ($DOGE), and Pudgy Penguins ($PENGU) saw their price increase by 11.3%, 20.4%, and 44% respectively as late buyers appear to be showing up to enter the space now that prices have fell off peak levels.
$PEPE Breaks Symmetrical Triangle and Could Produce 69% Gain in the Near Term
The most encouraging signal for Pepe ($PEPE) recently has been a break of a symmetrical triangle setup that on December 31.
Back then, the price surged by 8% while trading volumes doubled the average for the asset, indicating that investors were encouraged by this technical event.
A break like this typically indicates a change in the overall trend as buyers have managed to reverse the latest downtrend. A spike in trading volumes on the day of the breakout is a positive indication that affirms the importance of this price level to investors.
Since that break, the price of $PEPE has surged by 3.9% and this may just be the beginning as the asset could be poised to surpass its most recent peak as a result of this break. For now, the most critical resistance to overcome is $0.00002836.
If the price climbs above this level, chances are that Pepe could rapidly rise to $0.00003500 in the near term for a 68.8% gain based on today’s levels. The Relative Strength Index (RSI) also favors this expectation as the oscillator broke above the signal line.
Although $PEPE at $1 is still a distant reality, the latest breakout is encouraging for traders who are holding on to long positions and die-hard supporters of this meme coin as most of the losses seen in the past 30 days or so could be recovered if the price rises above the token’s December 9 all-time high.
This Pepe-Themed Meme Coin Has Raised Over $42M in Its Presale
The Wall Street Pepe ($WEPE) presale keeps getting hotter by the hour as investors are constantly pouring thousands of dollars into this meme coin with the expectation that it could be as successful as other recent listings like Pepe Unchained ($PEPE).
The project aims to build a strong community of loyal fans who want to take a stand on the whale-dominated meme coin segment by sharing ‘alpha’ trading tips.
Thus, the $WEPE Army will benefit not only from the price increase that the asset may experience down the road but also from the positive upside provided by these trading opportunities.
$40M raised. Frogs strong together. The future is green.
— Wall Street Pepe (@WEPEToken) January 3, 2025pic.twitter.com/ijSnXJq9x9
The ‘Kekius Maximus’ hype created by Elon Musk benefitted all tokens within the Pepe the Frog universe including $WEPE and provided a boost to its presale event as the it provided free publicly to PTF-themed projects.
Thus far, the $WEPE presale has raised $42.4 million.
The latest batch of the token is currently offered at $0.00036642 – a heavily discounted price that should favorably position early buyers to reap the highest returns once the token is listed. This price will only be available for the next 12 hours.
To buy $WEPE while the presale is still active, simply head to the official Wall Street Pepe website and connect your wallet. You can either convert USDT or ETH for this token or complete the transaction by using a bank card.
Once the event concludes, the developing team will announce the claim date. $WEPE tokens will be immediately deposited into investors’ wallet addresses and staking rewards will be progressively distributed.
Don’t miss the chance to invest in this hot meme coin presale while it lasts. Once $WEPE is listed on exchanges, chances are that its price will skyrocket as the Pepe the Frog frenzy is still raging.
The post Pepe Breaks Out of Symmetrical Triangle – Could $1 PEPE Be Next? appeared first on Cryptonews.
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PEPE Price Breaks Ascending Triangle To Target Another 20% Crash
Vitalik Buterin cashes in on memecoins he received for free, makes $139K
Ethereum co-founder Vitalik Buterin has once again made headlines by selling memecoins, generating a profit of over $100,000. According to blockchain tracking service Lookonchain, Buterin sold a range of memecoins he received for free, including DOG, ESTEE, and DINU, in exchange for Ethereum and USDC.
Per Lookonchain’s update on X, Buterin sold 340 billion $DOG tokens for 5.2 ETH. He also sold 50.48 billion ESTEE and 10 trillion DINU tokens for 116,307 and 4,181 USDC, respectively. The total sum of the funds he received at the time of the sale was $139,000.
vitalik.eth(@VitalikButerin) sold some #memecoins received for free today and got $139K!
He sold 340B $DOG for 5.2 $ETH($19K), sold 50.48B $ESTEE for 116,307 $USDC and sold 10T $DINU for 4,181 $USDC.https://t.co/CUXlJrc5D9https://t.co/4oTnT02tCjhttps://t.co/kwceBkR7lr… pic.twitter.com/VZE2drl8EP
— Lookonchain (@lookonchain) January 6, 2025
While the ultimate destination of the funds remains unclear, the Ether co-founder has a well-established history of donating such proceeds to charity.
Memecoin sales are likely routed to charitable causes
This latest transaction follows a long history of similar actions from the Ethereum creator. Last year, in October, Buterin amassed 1,101 ETH (worth $2.78 million at the time) through memecoin sales.
Of that amount, he donated 360.16 ETH, roughly $884,000, to various charitable causes. The tokens involved in those sales included significant quantities of coins like 10 billion MOODENG, which fetched 395.95 ETH ($982,000), 200,000 MSTR for 93.23 ETH ($231,000) and 500 million EBULL for 73.79 ETH ($183,000), according to reports.
The donations from these sales included 320 ETH, or approximately $1.07 million, which Buterin reportedly directed to Coin Center, a nonprofit based in Washington, D.C.
Vitalik Buterin urges the community to stop sending him memecoins
In several instances, Buterin has voiced his stance on developers who send him memecoins, pleading with them to stop. The Canadian programmer shared his concerns on X, stating, “Anything that gets sent to me gets donated to charity too.”
He encouraged memecoin creators to directly contribute to charitable efforts or form decentralized autonomous organizations (DAOs) to involve their communities in decision-making.
I appreciate all the memecoins that donate portions of their supply directly to charity.
(eg. I saw ebull sent a bunch to various groups last month)
Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease…
— vitalik.eth (@VitalikButerin) October 7, 2024
Moreover, Vitalik has been a strong critic of the celebrity memecoin frenzy, saying they “lack substance and purpose.”
The Ethereum developer went on to criticize the creators of these meme tokens for exploiting celebrities’ names to attract investors, often offering little value in return. He argues that this practice diverts resources away from more impactful projects and ignores the core principles upon which Ethereum was founded.
Support for Tornado Cash developer’s legal turmoil
Beyond his charitable work related to memecoin sales, Vitalik Buterin has also lent his support to a fellow crypto figure facing legal challenges. On December 31, Buterin donated 50 ETH to aid in the legal defense of Roman Storm, a developer involved with the Tornado Cash project.
Storm is set to face trial in the US on April 14 for alleged money laundering and sanctions violations linked to Tornado Cash. While regulators are looking to imprison the co-founder, he continues to receive widespread support from the crypto community.
The defendant shared his gratitude for Vitalik Buterin’s generous contribution, thanking him for his support during what has been a difficult period. “Immense gratitude to Vitalik Buterin for his generous donation to my legal defense fund,” Storm wrote. “Your unwavering support and leadership by example continue to inspire us all. Thank you for standing with me during this challenging time.“
Storm also provided an update on his legal defense fund, which has currently raised $640,061, about 33% of its $2 million target.
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