Meme Coin PEPE Plummets as Insider Sells Trillion Tokens; Cardano and Arbitrum Also Struggle
June 16 (Cointime) - The popular meme coin Pepe (PEPE) has suffered a significant decline, losing almost 90% of its gains and facing bearish market sentiment. This drop was triggered by the sudden sale of one trillion PEPE tokens by a potential insider, causing a sharp contraction in its market value.
Phishing Attack Strikes Pepe Holder, Causing $450K Loss
A trader of memecoins lost $453,000 worth of PEPE to a phishing scam after clicking on a link that approved a malicious transaction on their wallet. The scammer siphoned over 356 billion PEPE tokens from the victim's address. The phishing scammer is associated with Inferno Drainer, a scam-as-a-service provider that specializes in multichain scams and charges 20% of the stolen assets. The scammer has stolen assets worth over $7 million from more than 5000 victims and has created about 700 phishing sites since March 27. The emergence of scam-as-a-service providers highlights the sophistication of phishing scams in the crypto ecosystem.
PEPE's Volatility Remains Low as Market Awaits Action
PEPE's market remains stagnant as traders await a catalyst. The coin's volatility is currently low, with both buyers and sellers seemingly absent from the market. Support levels are at $0.0000013 and $0.0000011, while resistance is at $0.0000020.
The Emergence of Hollywood X PEPE: A New Contender in the Meme Coin Market
Meme coins have gained popularity in the world of cryptocurrencies, with Shiba Inu Coin (SHIB) being a well-known example. However, a new contender called Hollywood X PEPE is emerging and gaining momentum. Hollywood X PEPE is unique in that it is the first meme coin backed by big names in the entertainment industry, and aims to create an ecosystem where Hollywood stars and fans can interact on a blockchain platform. The team behind Hollywood X PEPE is demonstrating a solid business model and transparency, and their YouTube channel offers valuable insights into the coin and its vision. As with any investment, it is important to do your due diligence before diving in, but Hollywood X PEPE is definitely worth watching as it vies for a place in the meme coin hall of fame.
"Avorak AI's Utility Outshines Meme Coins Like PEPE Crypto"
Meme-inspired cryptocurrencies, such as PEPE, have gained significant attention in the market. However, their hype has been short-lived, and projects like Avorak AI, which offer real utility, are entering the market. PEPE Coin is a meme coin built on the Ethereum blockchain, but it has no intrinsic value or utility. In contrast, Avorak AI offers decentralized utility focused on DeFi, with innovative features such as staking and powerful AI tools. Avorak AI aims to revolutionize the digital world by combining the power of AI and crypto into one project.
Cryptocurrency Trader Bullish on Pepe (PEPE), Says Many Altcoins Have Bottomed Out in Near Term
Altcoin Sherpa, a popular cryptocurrency trader, is optimistic about the future of Pepe (PEPE), a memecoin that he believes is bottoming out and could see a double-digit percentage increase. Using Fibonacci retracement levels, Sherpa predicts that PEPE could rise from its current level of $0.00000150 to $0.00000235, an increase of 57%. Sherpa also suggests that many altcoins have bottomed out in the near term, including Ethereum scaling solution Arbitrum (ARB), smart contract blockchain Sui Network (SUI), and non-fungible token market Blur (BLUR), and could potentially rally 20-50% in the future. However, Sherpa cautions that any rally may be short-lived.
BIBI: The goal is MemeCoin's King of the Sky
Can BIBI become the king of the sky in MemeCoin?
Pepe Token Generates More Social Mentions Than Bitcoin and Ethereum Combined, But Traders Caution Resistance Levels as Shorting Opportunities
Pepe Token, a recently launched meme cryptocurrency, has generated more social media mentions in the past 30 days than Bitcoin and Ethereum combined, according to data from LunarCrush. However, the increased social activity does not necessarily equate to fundamental value or market performance, and traders caution that resistance levels on the token's chart could present shorting opportunities. Market analyst Michaël van de Poppe suggests that every block of resistance could potentially be an area to short the market, and advises shorting the token until it reaches support levels at $0.00000147, $0.00000115, or even as low as $0.00000085. Despite its extraordinary growth, some experts believe that Pepe Token is a scam.
PEPE Growth Surpasses Dogecoin in Memecoin War, Expectations High for Coinbase Listing
PEPE, a frog-themed memecoin, has surpassed Dogecoin in key performance metrics, thanks to its listing on several cryptocurrency exchanges and high community expectations for a Coinbase listing. Despite a recent dip of 60% from its all-time high, PEPE has recovered by more than 8% in the last 24 hours and has seen a surge of over 6,000% in the last 30 days.
PEPE Consolidating Before Major Move, Key Support and Resistance Levels Identified
PEPE appears to be in a consolidation phase before a potential significant move. Key support levels are at $0.0000015 and $0.0000011, while the key resistance level is at $0.0000020. Despite a lack of interest shown by flat trading volume, bulls could take over the price action as sellers seem exhausted.
