While the broader crypto market has been in decline, Ethereum-based memecoin $PORK has defied the trend, posting a significant 100% gain over the past three days.
Over the past week, $PORK has emerged as a top performer among cryptocurrencies, recording an impressive 143.78% increase in value.
🚨BREAKING:
Ethereum memecoin $PORK dominates the Top Crypto Gainers over the past 7 days, marking a remarkable 143.78% rally.
Source: @CoinMarketCap pic.twitter.com/FkP2oqFToT
— ashkar 🐷🟪 (@Oashkar7) August 29, 2024
This rapid rise hasn’t gone unnoticed by market observers. Both Smart Dex Traders and Smart Money have detected unusual buying activity in $PORK, coupled with a noticeable drop in selling volume. These indicators suggest a growing interest in the memecoin, with both groups slightly increasing their $PORK holdings in the last 24 hours.
$PORK Nears Critical Point, Time To Monitor The Charts
However, the rally may soon face a challenge as $PORK nears a key resistance level. Market analysts are keeping a close eye on this development, as breaking through this resistance could determine the coin’s next move.
Amid this surge, speculation has been rife that $PORK could potentially flip $PEPE, another popular Ethereum-based memecoin. Currently, $PORK’s 24-hour trading volume is just $0.5 million shy of $PEPE’s, despite $PEPE’s market cap being 64 times larger. If $PORK continues its upward trajectory and breaks through the resistance, it could close the gap with $PEPE, sparking further excitement among investors.
$PORK 24-hour volume is just $0.5M less than $PEPE, yet PEPE’s market cap is 64x that of PORK.
You really think PORK won’t flip PEPE again?
It’s not a question of if. It’s when? pic.twitter.com/7C9EH85Z3J
— Alex Gomez (@AlexWGomezz) August 29, 2024
As $PORK continues to dominate the crypto gainers’ list, the coming days will be crucial in determining whether this momentum can be sustained, or if the resistance level will halt its rise. Investors and traders are advised to keep a close watch as the memecoin battle unfolds.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: loft39studio/123RF // Image Effects by Colorcinch
The post Ethereum Memecoin $PORK Surges Amid Market Downturn, Eyes $PEPE Flip appeared first on The Merkle News.
