Crypto whales are now accumulating a new Solana meme coin, raising questions about whether it could become the next Pepe. Investors’ interest in the popular meme coin Pepe ($PEPE) seems to be waning this week, with the token experiencing an 8.2% drop over the past seven days. This decline is the most significant among the top five meme coins by market capitalization.
Currently priced at $0.00001422, Pepe has decreased by 2.5% in the last 24 hours. Despite this, it has managed to attract the highest 24-hour trading volume among meme coins, reaching $754,126,106. This figure surpasses the trading volume of market leader Dogecoin ($DOGE), which recorded $724,287,150 in volume, although the difference in project sizes is substantial.
Pepe’s market capitalization stands at approximately $6 billion, while Dogecoin’s is closer to $23 billion. Interestingly, many leading meme coins are moving in the opposite direction of Bitcoin this week, which has seen a 5% increase and is currently trading at $71,265.
Pepe’s trading chart reflects its struggle to surpass the $0.00001 resistance until mid-May, when a sharp increase propelled the coin to a new all-time high of $0.00001717. However, it has since retraced by about 18% from this peak.
Despite these fluctuations, Pepe has found support around $0.000014, indicating some stability following the token’s volatile rally in late May. With a relatively low relative strength index of 44, further losses could be on the horizon if the sell-off continues.
While Pepe’s future remains uncertain, attention is now turning to a new and amusing meme coin called Sealana ($SEAL) on Solana’s network. Sealana, a spin on South Park’s Gamer Guy character, has raised over $3 million in a recent presale.
Gamer Guy, known for his distinctive appearance and portrayal of excessive screen use, has become a symbol of internet culture. Sealana’s presale offers investors the opportunity to purchase tokens at a fixed price of $0.022 until June 25. This could be a chance to get in early before the coin potentially gains significant value post-listing.
As the crypto community shifts its focus to Sealana, it seems that Pepe may be overshadowed by this new meme coin. For those looking to participate in the meme coin craze, Sealana presents an exciting opportunity to join the movement.