© Reuters. PEPE tops LunarCrush AltRank; More social activity than BTC
- Memecoin PEPE ranks first on LunarCrush AltRank with more social activity than BTC.
- PEPE is trading at $0.000002 with an increase of 9.86% over the past 24 hours.
- PEPE bears and bulls fighting tooth and nail; But the bears have the last word.
LunarCrush takes to Twitter to announce that Memecoin PEPE has topped the LunarCrush AltRank and has shown more social activity than (BTC).
“Did you know that $pepe has more social activity than #bitcoin most of the day? And it’s #1 LunarCrush AltRank right now. That’s incredible.” pic.twitter.com/cyebqPRgzR
– LunarCrush (@LunarCrush) May 13, 2023
According to LunarCrush, $PEPE ranked first on the LunarCrush Altrank as it reached $0.000001903 earlier Sunday. At the time of publication, LunarCrush AtlRank ranks 671 out of 4,389 coins/tokens on the market.
AltRank is LunarCrush’s parameter that reaches out to the cryptocurrency community, attracts it, and compares that across the entire cryptocurrency market. AltRank is the culmination of the metrics that make the top 25 coins/tokens worth considering. Metrics include market size rank, social size rank, percentage change versus bitcoin rank, and social degree rank.
According to LunarCrush’s 24-hour social dominance, $PEPE also predicted more social activity from Bitcoin (BTC). PEPE was valued at $0.000001730 at the time and was endorsed by five top influencers, Ash Crypto, David Gokhshtein, SlumDOGE Millionaire, Crypto Rover and BSC Gems Alert.
LunarCrush defines social dominance as the “share of voice” across all social media data. This is similar to market domination. However, instead of dividing the coin’s market cap by the entire cryptocurrency market, Lunarcrush divides the coin’s social volume by the entire cryptocurrency market’s social volume.
According to CoinMarketCap, at the time of publication, memecoin $PEPE is worth $0.000002, down 9.86% in the last 24 hours. $PEPE has a 24 hour trading volume of $433, 228, 314 and has a coinmarketcap rank of 64. It has a live market cap of $676,842,556 with a circulating supply of 391,790,000,000,000 and a max Offer of 420, 690, 000, 000, 000 PEPE COINS.
PEPE/USDT 4-hour chart (Source: TradingView)
Taking into account the behavior of memecoin in the past 4 hours, PEPE is seen within the bands stipulated by the Bollinger Band, and since the width of the bands is fixed, PEPE is expected to move sideways or consolidate.
However, considering the previous uptrend that occurred from the same price where PEPE is now, PEPE has a tendency to break resistance 1 and reach resistance 2. Thus, if the coin is in an uptrend, it is expected to test resistance 1 at $0.00000301 . If the bulls are strong enough to break resistance 1, PEPE will move to test resistance 2 at $0.0000371.
Conversely, if the bears overtake the market, PEPE may seek help from the support level 1 at $0.000001109. Moreover, if the bear’s stranglehold remains, memecoin may break Support Level 1 and move to test Support Level 2 at $0.000001571.
Disclaimer: Reviews and opinions, as well as all information shared in this price forecast, are posted in good faith. Readers should do their research and due diligence. Any action taken by the reader is at their own risk. Coin Edition and its affiliates will not be liable for any direct or indirect damage or loss.
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