DOGE and PEPE prices drop as meme coin ICO raises $25M in record time

Dogecoin (DOGE) and Pepe (PEPE) prices drop as Wall Street's Pepe (WEPE) storms the stage with pre-sale exceeding $25M.

Throughout 2024, crypto enthusiasts have been passionately discussing and debating the coin meme supercycle and how long it might last.

While many meme coins saw price growth as Bitcoin broke past $100,000, the likes of Dogecoin and Pepe have since declined, with DOGE down 10% on the weekly chart and PEPE down 14%.

However, a modern meme coin – Wall Street Pepe (WEPE) – has raised $25m in a very short time. This is an amazing achievement that marks WEPE as one of the fastest growing presales, a clear sign that the supercycle coin meme still has a lot of power.

DOGE's progress stalled

From the table below, DOGE bulls observe the DOGE ascending triangle. However, at this point, DOGE has spent more than a week dipping towards the green diagonal trend line – and if the price breaks through, traders and investors will turn their attention to the -support levels below.

Two psychological price levels stand out as a result of high wicks emerging from the past two daily candles. These are $0.30 and $0.22 – and if the price of DOGE falls to $0.22 from its current value, that will be a drop of about 44%.

Even though we are in a bull market and the coin supercycle meme theory is still plausible, every market cycle includes dips and corrections as well as pumps and other bullish movements. So, while $0.30 may be a strong enough support level to allow a bounce and continue, $0.22 is a good level to watch for investors looking to buy DOGE at a deep discount.

If a fall occurs, it will likely take some time – perhaps several weeks or a few months – before the price of DOGE recovers and goes beyond $0.485.

PEPE jumped into trouble

PEIP The Dogecoin pump followed with a delay of a couple of days. Since that time, PEPE traders and investors have shown much less confidence in the ability of this token to maintain its higher price – and this is reflected in the high level of copying in the chart. -low, as well as a special tendency to create dips and act very quickly.

Since DOGE went down, PEPE has declined even more, rather than falling too far down. Looking at the volume of Pepe's trade, a much sharper decrease can be seen in the last few days. This means that this intense split is driven by very little trading volume – which could be a sign of AI-driven manipulation and trading.

Taking a bullish view, just like DOGE, PEPE is located within an ascending triangle. However, the trend line that is the support level for that triangle is very steep – and that generally indicates weaker support and a high probability of a big drop if the support level is broken.

From there, it is very far down (almost -35%) to the next strongest support level at $0.000015. Due to the recent high level of copping, a move like this may take some time to reach its target – but it could easily get there before it bounces and moves to a new bullish level.

Overall, DOGE and PEPE are currently showing significant weakness, with a strong possibility of major falls ahead.

Fortunately, everything is not difficult for meme coin traders as a new presale project shows great potential.

Next 100x meme coins: Wall Street Pepe hits $25M in pre-sales

With so much uncertainty that could be bearish going through the crypto markets, projects that thrive under these conditions really stand out. Pepe Wall Street is one such project, and has already raised $25m in the first two weeks of its pre-sale phase.

Wall Street Pepe was created to empower degens across the crypto space with the skills and tools they need to get ahead. From alpha calls to key trade views and strategic gains, the WEPE army is already one of the fastest growing meme dog communities.

The token also offers stakes – and can be applied at the pre-sale stage, with current estimated rewards of 47% PA.

Over at 99Bitcoins, a crypto analyst has dived deep into Wall Street Pepe, and found it to be extremely promising:

Very few meme coins are designed to provide any resource to their community members – let alone actionable trading advice and the knowledge needed to make money from crypto.

Another frog meme coin, Pepe Unchained, saw gains of over 600% after launching last week following a $60M+ pre-sale, and Wall Street Pepe could be poised for similar gains .

For more information about WEPE, visit their website website.