Dogecoin and Pepe prices recover as new meme called Wall Street Pepe raises $33.5M in presale

Bitcoin has started rallying again, up 3.9% to $98,147.96 per BTC over the last 24 hours
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Posted by Advertorial December 21, 2024 3 Mins Read
Bitcoin has started rallying again, up 3.9% to $98,147.96 per BTC over the last 24 hours

Bitcoin has started rallying again, up 3.9% to $98,147.96 per BTC over the last 24 hours. The crypto market overall is near its ATH of $3.79 trillion, sitting at $3.57 Trillion today. With this, top memecoins are recovering from their weekly losses. 

Over the last 24 hours, the memecoin market has recovered by almost $10 billion in market cap, breaking through the $100 billion mark again.  

The world’s biggest memecoin, Dogecoin (DOGE), has grown 19.07%, while Pepe (PEPE) recorded the biggest growth out of the top 3 biggest memecoins, rising 24.14% today. 

Meanwhile, memecoin presales are also performing strongly. Wall Street Pepe (WEPE) has now hit the $33.5m mark in its presale, while Crypto All-Stars prepares to launch on exchanges on Monday. 

Dogecoin and Pepe up as memecoins rebound 

Despite making significant gains today, Dogecoin is still down 16.74% over the week, with its current price of $0.3385 sitting well below its peak this year at $0.4835. Looking at its technicals, Dogecoin’s long/short ratio of 3.09 points towards this week’s events being a short-term correction. 

However, looking at the funding rate, many major exchanges including Binance and Bybit still show a negative funding rate, signifying DOGE could be in for a long ride to regain its previous highs.

 

The token’s Relative Strength Index (RSI) sits at 46.90 with a 50-day Simple Moving Average (SMA) of $0.296325. This is largely a neutral sentiment, with the token sitting in between oversold and overbought.  

A wildcard that could tip Dogecoin’s prices is the performance of Elon Musk’s Department of Government Efficiency (DOGE) - a project designed to eliminate excessive US government inefficiency.  

With Musk being a vocal Dogecoin supporter, if the department can manage to be a positive influence on the US economy, we could see Dogecoin rally back up. 

Despite relatively neutral trends, certain analysts including Cantonese Cat with over 25,000 followers on X (Twitter) see Dogecoin’s rebound as a sign for an oncoming memecoin season. 

PEPE is trading at $0.00001908 after growing significantly today. The token experienced a major resurgence in November, pumping after the US presidential election, and reaching its all-time high of $0.00002803 on December 9th. 

Looking at its technicals, Pepe’s long/short ratio is sitting pretty at a massive 0.9841. With twice as many longs as there are shorts, we’re seeing the community’s trust in the token. However, despite this the token’s technical indicators are overall still in a neutral position. 

With Pepe struggling to reach its past heights, a Pepe-inspired token is making headlines with its massive ICO success.

Memecoin ICOs on the rise as Wall Street Pepe raises over $33.5 million

Growing by almost $2 million a day on average, Wall Street Pepe is one of the most hyped memecoin presales of the year. The token is built around the exclusive WEPE trading group, with an ambition to challenge whales and insider groups through collective trading and effective calls.

Raising $33.5 million over the last 18 days cements WEPE as the fastest-growing memecoin ICO of the year, even surpassing the likes of Crypto All-Stars with its $25 million. 

WEPE is currently selling for just $0.0003651 per token. However, this price isn’t here to stay. The presale follows a dynamic pricing model, increasing the token price as time passes and funding goals are met. This ensures early investors get in at the lowest possible price. 

While WEPE’s biggest selling point is its exclusive crypto channel giving alpha calls, trading guidance, and ability to compete with whales, many investors are in it purely for the speculative value. 

Merging the memetic appeal of Pepe, real utility, and a strong marketing campaign, Wall Street Pepe has already surpassed some established tokens on social media. The token has over 25,000 followers on X (Twitter), more than the likes of Shiro Neko and Goatseus Maximus. 

Crypto All-Stars prepares for launch with over $26 million raised

Another new memecoin that’s catching eyes is Crypto All-Stars (STARS), which is preparing to launch on exchanges on Monday 23rd December after raising over $26m through its presale. 

The project is building the MemeVault, which is the first unified, multichain memecoin staking protocol. Users will be able to stake top memecoins like Dogecoin, Shiba Inu, and Pepe via the platform. 

STARS token holders will get increased APY, and STARS itself can also be staked, with over 5bn tokens staked so far.

The token has undergone two security audits by Coinsult and SolidProof ahead of its launch, with an additional 10% of the total token supply set aside for liquidity to ensure investor safety.
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