The recent surge in the price of Pepe Coin (PEPE) is attributed to the broader rally in the cryptocurrency market. PEPE, the world’s third-largest meme coin, has seen a 9% increase in its value, trading at around $0.0000012. This surge comes after hitting multi-month lows on Monday at around $0.00000107. Several factors have contributed to the optimistic market sentiment, including the potential approval of spot bitcoin exchange-traded funds (ETFs) by early 2024, PayPal’s move to create its own stablecoin, and a drop in global bond yields following weak Chinese trade data.
Bitcoin (BTC) is also experiencing a price rally and is eyeing a retest of $30,000, while Ether (ETH) is looking to push back towards $1,900. In the case of Pepe Coin, supporters are now aiming for a retest of the $0.00000145 resistance level. PEPE seems to have broken out of a bearish trend channel where the 50 and 100-day moving averages are located, which suggests potential gains of around 20% from its current levels.
While Pepe Coin sees improvements, there is growing excitement surrounding another ERC-20 token called BTC20, which is expected to make waves in the crypto market this August. BTC20 is launching its highly anticipated staking program in less than 24 hours and will be available on Ethereum-based decentralized exchanges one day later on Thursday.
BTC20, referred to as a second chance to invest in bitcoin when it was priced at $1 in 2011, has already generated significant interest. Its presale raised an impressive $6.05 million in less than two weeks. The token’s launch on Ethereum-based DEXs on August 10th at 1500 UTC is expected to have a explosive start due to the pent-up demand and FOMO (fear of missing out) generated since the presale.
Related Post
One factor that sets BTC20 apart from the original bitcoin is its existence on the faster and more environmentally friendly Ethereum blockchain, which is the heart of the decentralized finance (DeFi) world. This feature serves as a key selling point for the token. In addition, BTC20 offers investors the opportunity for passive income through staking. According to the official BTC20 Twitter account, the potential annual yields from staking could reach into the hundreds of percent, depending on the size of the staking pool.
Staking for those who participated in the BTC20 presale will become available on August 9th at 1500 UTC. Given the attractive yields on offer, a significant portion of the token supply is expected to be committed to staking. This incentive to hold (HODL) the token could reduce the available supply when BTC20 launches on exchanges the following day, potentially leading to a price increase.
With a current market cap of only around $6 million, BTC20 has plenty of room to grow. It is not unreasonable to expect gains of 10 times or even more. However, it is essential to note that investing in crypto is high-risk, and this article does not serve as investment advice. It is crucial to be aware of the potential risks and the possibility of losing all of your capital when investing in cryptocurrencies.
