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Pepe and Poodlana are two rising stars in the cryptocurrency world. Pepe, a meme coin, has captured attention with its dramatic price fluctuations and strong community support.
Poodlana, a newcomer in the Asian market, has leveraged the region’s fascination with poodles to gain significant traction during its initial coin offering (ICO).
This article compares their price predictions for 2024, providing a detailed analysis of each coin’s potential trajectory based on recent performance and market trends.
PEPE’s market peak and correction
PEPE reached its all-time high on 27 May, marking its second consecutive peak within two weeks. A wave of profit-taking followed, leading to a 19.27% drop from its peak value, with PEPE priced at approximately $0.00000145 by 5 June.
Despite this recent downturn, a significant trend in the PEPE markets this week indicates that the bottom might be near.
While PEPE’s price has only dropped by 19% from last month’s market peak, trading volume has plummeted by a significant 72%, decreasing from $4.32 billion on 23 May to just $1.27 billion on 5 June.
Strategic investors view this steeper decline in volume relative to price during a correction phase as an early indicator of a potential bullish reversal.
This trend suggests that sellers are becoming increasingly reluctant to sell at lower prices and that most PEPE traders who aimed to book profits have already done so at higher levels.
Technical indicators also support the prospect of a bullish reversal. PEPE’s price is approaching a critical support zone around the 20-day Simple Moving Average (SMA) at $0.0000138. As the price correction nears 20%, sidelined bulls might see this as an ideal entry point for new positions.
If PEPE embarks on another rally in 2024, the current all-time high of $0.00017 will serve as the primary short-term resistance to overcome. With sufficient momentum, PEPE could reach new highs above the $0.000020 mark in June 2024.
If bearish pressure intensifies, PEPE could lose its key support level at $0.000014 and potentially fall to the 50-day SMA at $0.0000010.
Despite the recent pullback, PEPE has outperformed major cryptocurrencies such as Bitcoin, Ethereum, and Solana over the past year, delivering an impressive return of 1,299.26%.
This strong performance underscores robust and widespread investor interest in the meme coin.
Poodlana’s entry and potential
Poodlana is dominating the Asian crypto market with a clever combination of attitude and novelty that has sent investors into a frenzy following its highly anticipated presale debut.
The presale token allocation is likely to sell out fast, based on the huge momentum Poodlana has gathered on the back of Asia’s poodle craze.
Poodles are fast becoming top dogs as a coveted fashion accessory, a trend that now appears to be carrying over into the crypto market.
Poodlana’s presale success
Poodlana’s Initial Coin Offering (ICO) began three days ago on 17 July with an opening price of just $0.02.
Poodlana has raised over $1.5 million in just three days of its 30-day presale debut. Prices go up every three days, with its next price set to be at $0.023.
Poodlana has outlined an ambitious program for “Crypto Fashion Month,” including glitzy AMAs, elaborate marketing stunts, and exclusive meme competitions with rewards of $2500. This initiative aims to build a strong, sustainable community of crypto enthusiasts.
Notably, 15% of POODL’s supply is set aside for marketing and rewards, fostering trust and engagement within its community.
Market analysts predict that if Poodlana maintains its current momentum and successfully capitalises on the ongoing poodle craze, its value could rise significantly. Some forecasts suggest that Poodlana could reach $0.05 by the end of 2024, driven by strong demand and limited token availability.
The coin’s long-term success will depend on its ability to sustain investor interest and adapt to market dynamics.
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