PEPE's Market Cap Doubles TRUMP's Amid 18% Volume Surge

Pepe (PEPE) has recently gained significant traction in the meme coin market, securing a 5-day winning streak before experiencing a slight dip. Despite the 1% price decrease in the past 24 hours, trading volumes surged by 18%, indicating sustained trader interest. PEPE's market capitalization now stands at $5.4 billion, more than double that of Official Trump (TRUMP), which is at $2.2 billion. This shift in market capitalization highlights PEPE's growing dominance in the meme coin sector.

The recent price action of PEPE suggests a potential breakout, with the token's price retesting the 200-day exponential moving average (EMA) from below. This retest comes after PEPE broke its trend line support on May 30, accompanied by strong volumes and a much-needed market pullback. The Relative Strength Index (RSI) had already exited overbought territory, and momentum was fading, leading to a 'death cross' where both the 9-day and 21-day EMAs crossed below the 200-day EMA. This technical indicator signals a powerful sell signal, anticipating a change in trend direction and accelerating bearish momentum.

Despite the bearish signals, the baseline scenario suggests a retest of the $0.00001500 level, implying a 19% potential gain in the near term. If the price action rejects a move above this resistance area, it could result in a significant drop for PEPE in the mid-to-long term. However, the trend favors a bullish move for the next few days as long as the $0.00001100 support holds. According to the analyst's forecast, PEPE reaching $10 is highly unlikely in the near future, as its market capitalization would need to rise to over $4.2 quadrillion. Nevertheless, the current price action supports a bullish Pepe price prediction.

As meme coins continue to gain momentum, the best crypto presales within the Solana blockchain, such as Solaxy (SOLX), are expected to outperform some of the most well-established assets in the crypto space. Solaxy is a layer-2 scaling protocol for the Solana blockchain, designed to eliminate congestion issues during peak usage periods. The developing team has made significant progress in deploying the L2, recently launching a block explorer for the testnet that investors can use to check the solution’s performance in real time. As the protocol’s utility token, the demand for $SOLX is expected to skyrocket once Solaxy is adopted by top exchanges and wallets.