Christmas seems to have come early for Bitcoin and Ethereum bears, as both leading crypto assets have dipped over the last several days. BTC has fallen by almost -13% since December 17, while ETH has dropped by a similar amount at approximately -15%.
Most altcoins have suffered more challenging fates, with many tokens dropping by -30% or more in recent days.
However, as the saying goes, it’s time to buy when there’s blood in the streets – and this is also a key time to find strongly-performing cryptos that continue thriving, even while the market panics. PENGU (the official token of the Pudgy Penguins NFT project) and SPX6900 (a meme coin that satirises the S&P 500) are two such examples.
Both meme coins have seen strong rises on the daily charts, while another new token called Wall Street Pepe is turning heads having just hit the $35 million mark in its ongoing presale.
More Success Incoming for PENGU?
Building on the incredible global success of the Pudgy Penguins NFT collection (a crypto-native project that’s turned into a mainstream entertainment brand), the PENGU token has been subject to some controversy. As soon as the token launched on December 17, the floor price of the Pudgy Penguins NFT collection plummeted by over 50%, wiping out the huge price gains the collection had made since the early days of this month:
As the value of NFT collections is partly dependent on exclusive access to a brand, and the introduction of the PENGU token now means that anyone can invest in Pudgy Penguins at a more accessible price level, this precipitous dip is understandable.
However, the PENGU token is making significant moves in the right direction, breaking out of a descending triangle chart pattern. PENGU is up over 30% in the past 24 hours alone.
As we’ll see in the price chart below, the key resistance level for PENGU ($0.07) is approximately double the token’s current price:
This looks like the start of a potential rally for PENGU, which is already a fantastic achievement under current market conditions. Time will tell exactly where the price action goes from here, but at least PENGU holders haven’t been left out in the cold.
The $PENGU prophecy roadmap
I don’t make the rules ♂️
GCR does pic.twitter.com/3O3lttbXHB
— Lord Durden (@LordDurden) December 23, 2024
SPX6900 Also on the Up
While PENGU does its best to take off, SPX6900 is continuing to consolidate while bullish signals begin to emerge. The token is up over 20% in the past 24 hours, but the big picture is best indicated by the chart below:
Symmetrical triangle chart patterns are usually considered ambiguous rather than bullish – but in this instance, we can see a recent deviation below the green diagonal support line. This indicates a bullish resurgence, which catapulted the price into its biggest pump since late November.
Buy and Hold #SPX6900
It still has 200x in the tank
Yes I am serious
Put 3-5% of your portfolio in it and Hold for 1 Year
Will outperform 99% of your gambles with Way less Stress
Thank me later pic.twitter.com/1hvMYOUKVe
— Murad (@MustStopMurad) November 27, 2024
Since that deviation point, the SPX6900 price has remained volatile, undergoing yet another dip, followed by another pump. This is definitely not a token for the faint of heart, but many investors and traders will still find it preferable to the bearish price action currently afflicting most of the crypto market. $1 remains the most vital resistance point for SPX6900 investors to target – and if we zoom into a lower time frame, we’ll find another interesting insight:
Even on the one-hour chart, SPX6900 has formed another symmetrical triangle that indicates bullish strength. The price is also consolidating below a potential breakout level – and the current chart pattern has a deadline to resolve itself by exactly the point where 2024 ends and 2025 begins, right down to the hour of midnight.
While SPX6900 remains volatile, an interesting meme coin presale has emerged in recent weeks that some investors have been quick to pour into.
Wall Street Pepe Presale Hits $35M – Next Breakout Meme Coin?
While so many crypto traders and investors have been struggling against the market in the past couple of weeks, Wall Street Pepe ($WEPE) has been breaking records. Its recently launched presale has hit $35m in around just 3 weeks, making it one of the fastest-growing ICOs right now.
This unique new meme coin project will give token holders access to special trading insights, strategies, and alpha calls that could increase their chances of making better investment and trading decisions.
By joining the WEPE community, everyday traders – usually considered the “fish” at the mercy of large whales and major institutions – can become empowered and equipped with everything they need to get ahead and win.
Token holders will also be able to enter weekly trading competitions, join the WEPE Army (a private group of insiders), and stake their WEPE tokens to generate passive income with impressive APY rates (currently 37%).
Frog meme coin projects like Pepe and Turbo have already achieved explosive success, and many investors seem to believe WEPE might be next.
Visit Wall Street Pepe Presale
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