LunarCrush takes to Twitter to announce that Memecoin PEPE has topped LunarCrush AltRank and has showcased more social activity than Bitcoin (BTC).
According to LunarCrush, $PEPE ranked first on LunarCrush Altrank reaching a price of $0.000001903 earlier on Sunday. At press time, LunarCrush AtlRank is at 671st position out of the 4389 coin/token in the market.
AltRank is LunarCrush’ parameter that accesses a cryptocurrency’s community and traction and compares that across the entire cryptocurrency marketplace. AltRank is a culmination of metrics which makes a top 25 ranking coin/token attention worthy. The metrics include Market Volume Rank, Social Volume Rank, Percent Change versus Bitcoin Rank, and Social Score Rank.
According to LunarCrush’s social dominance 24- hour-graph, $PEPE also projected more social activity than Bitcoin (BTC). $PEPE was valued at $0.000001730 at the time and was endorsed by five top influencers, namely, Ash Crypto, David Gokhshtein, SlumDOGE Millionaire, Crypto Rover, and BSC Gems Alert.
LunarCrush determines social dominance as the “share of voice” across all social media data. This is similar to Market dominance; however, instead of dividing a coin’s market cap by the entire cryptocurrency market, Lunarcrush divides a coin’s social volume by the entire cryptocurrency market’s social volume.
As per CoinMarketCap, at press time, the memecoin $PEPE is valued at $0.000002 which is a fall of 9.86% in the last 24-hours. $PEPE has a 24-hour trading volume of $433, 228, 314 and has a coinmarketcap ranking of 64. It has a live market cap of $676,842,556 with a circulating supply of 391,790,000,000,000 and maximum supply of 420, 690, 000, 000, 000 PEPE coins.
PEPE/USDT 4-hr Chart (Source: Tradingview)
Taking into account the memecoin’s behavior in the past four hours, PEPE is seen within the stipulated ranges of the bollinger band and since the width of the bands are constant, PEPE can be expected to move sideways or consolidate.
However, when considering the previous bull run that occured from the same price where PEPE is of now, PEPE has the tendency to break Resistance 1 and reach Resistance 2. Hence, if the coin is on a bull run it is expected to test Resistance Level 1 at $0.00000301. If the bulls are strong enough to break Resistance Level 1, PEPEwill move to test Resistance Level 2 at $ 0.0000371.
Correspondingly, if the bears overtake the market, PEPE may seek assistance from Support Level 1 at $0.000001109. Furthermore, if the bear’s stranglehold remains the memecoin may break through Support Level 1 and move to test Support Level 2 at $0.000001571.
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Source: Cryptocurrency - investing.com
