PEPE hits a 17% all-time high, but traders are turning to this 2.0 Meme coin for potential 1000X gains.

The price of Pepe has risen 17% in the past 24 hours, trading at $0.00001058 as of 4 a.m. EDT, with volume surging 50% to $2.45 billion.

PEPE prices are on the rise after soaring 50% in a week and 869% in the past month.

Pepe has finally lost another zero after his recent surge, as many have speculated over the past few days. The coin has also hit a new all-time high and supporters are still waiting to see how high the meme coin can actually go this time.

Pepe price prediction

PEPE prices fell again just a few hours ago. And now the question everyone in the meme coin community is asking is: How much further can we go?

The token struggled with resistance at $0.000009 for most of March 13, but broke the resistance towards the end of the day. Since then, a new surge has pushed it to new levels, hitting an all-time high, but has also faced new resistance at $0.00001075.

Looking at some technical indicators, it is clear that PEPE has reached a major barrier and its short-term performance is unclear. For example, the token’s Bollinger Bands have seen a huge expansion, a strong and bullish signal that the price surge may continue.

But at the same time, the RSI (Relative Strength Index) value of the token has fallen deep into overbought territory. This usually indicates that a price decline is expected. When a token enters the overbought zone, many consider it a time to take profits and withdraw, and PEPE’s RSI value recently rose to 79.52. It has fallen slightly since then and currently stands at 73.43.

Nonetheless, the token is still in overbought territory. Uncertainty is very high, with one technical indicator suggesting a much larger spike and another showing a correction could be coming. PEPE is likely to see some correction before a new bullish wave starts rising again, potentially breaking the resistance that is preventing the token from rising any further.

Alternatively, given the bullish nature of the current market, with both Bitcoin and numerous altcoins shattering all previous records, PEPE fans may simply ignore the technical indicators and continue buying the token to push it to new ATHs.

A promising alternative to Pepe

While meme coin fans rushed to buy Pepe and other major meme cryptocurrencies, many experts turned to Sponge V2 (SPONGE) instead.

This is a new version of a project launched in 2023 based on the SpongeBob SquarePants meme. So it has nothing to do with the actual SpongeBob SquarePants or Nickelodeon. It was simply inspired by the memes surrounding the character.

The project launched its first version in 2023 but has seen a 100-fold pump, attracting thousands of investors and millions of dollars.

Now the developers have decided to discontinue the original SPONGE and release a much bigger and better V2, potentially seeing 1000x pumps. At least this is the hope of supporters who have begun purchasing assets in large quantities.

📣 Caution, #Sponger!

Here is some important information to remember: $sponge V2!$sponge V1 has been officially discontinued and V2 has been released. #polygon! 🔥

Learn more about token details below 👇https://t.co/TCdxgXx40w

🧵1/3 pic.twitter.com/YZzXOlKmHY

— $SPONGE (@spongeoneth) February 6, 2024

SPONGE is currently selling for $0.0033193, bringing the total amount of bridged and staked SPONGE tokens to $30.9 million.

With SPONGE V2 rumored to be listed on additional top exchanges soon, now may be your last chance to buy before more explosive gains.

Investors can purchase SPONGE V2 tokens in exchange for ETH and USDT on the official website.

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