In the recent market rebound, the top Memecoin faced a pullback The recent market Rebound has given Xu Long Crypto Assets a positive signal and filled investors with optimistic expectations for the near future. The market has seen significant growth in the first two months of 2024, driven by the ongoing Bitcoin exchange-traded fund (ETF) frenzy, whale accumulation, and meaningful updates across different projects. Last week, two of Market Cap's largest Crypto Assets Bitcoin and Ether coins reached important milestones that set the tone for the entire market. BTC broke above the $50,000 resistance zone 9 days ago and has since shown strong support above this level. Similarly, on Tuesday, Ethereum briefly broke through the $3,000 support level for the first time in nearly two years. Both of these milestones have sparked investor excitement in the Crypto Assets market. Nevertheless, the market showed signs of a temporary slowdown on Wednesday after the number of Long Crypto Assets began to show red lights and decreased. According to the data, meme coins are no exception. The sector's Market Cap is down 7.0% in the last 24 hours and currently stands at $21.9 billion, with a total daily trading volume of $1.35 billion. Eight of the top 10 memecoins are facing a price downtrend on the 1-hour, 1-day, and 7-day timeframes. Pepe (PEPE), dogwifhat (WIF) and FLOKI were among the biggest decliners since yesterday. However, both the CorgiAI (CORGIAI) and PepeFork (PORK) prices show green numbers. The top 3 memecoins by Market Cap follow the same trend as the memecoin market. The current prices of Doge (DOGEE), Shiba Inu (SHIB), and Bonk (BONK) show negative numbers. BONK, AS THE BIGGEST LOSER IN THE MEMECOIN TOP 10, LEADS IN THE RED PATH. Recently, the Crypto Assets recovered with a 25% intraday rally, bringing it back to the top 100 Crypto Assets. Memecoin ranks 114th among all Crypto Assets with a Market Cap of $692.3 million, down 5.8% in the last 24 hours. BONK IS TRADING AT $0,00001148, INDICATING A PRICE DROP OF 9.3% AND 17.6% IN THE LAST 24 HOURS AND 7 DAYS TIME FRAME, RESPECTIVELY. However, the Token's daily trading volume increased by 10.9% from yesterday, indicating an increase in market activity recently. As previously reported, DOGE has shown signs of starting a bullish recovery after Whale activity drove rise in trading volumes. The ecosystem has seen an increase in activity last month, with more than 1 million transactions processed per day since January 30. Trading activity on the last day of DOGEE showed a 39.3% drop in market activity for the Token, with trading volume worth $597.9 million. According to the data, its Market Cap is $11.88 billion. This represents a 25% drop in single-day performance, preventing the Token from being among the top 10 Crypto Assets for this metric. Similarly, the price of DOGEE saw a 3.5% pullback on the last day and is currently trading at $0.083. SHIB, LIKE DOGE AND BONK, HAS FALLEN SHARPLY SINCE YESTERDAY AND IS CURRENTLY TRADING AT $0,09399, DOWN 3.8% IN THIS TIMEFRAME. While its Market Cap also declined on the last day (down 2.71%), the daily trading volume of the 19th largest Crypto Assets increased by 15% in the last 24 hours to $300.8 million. Although recent data suggests a temporary loss of momentum in the memecoin market, it is worth noting that the top 3 memecoins by Market Cap performed well on the 14-day time frame. In the past two weeks, the price of BONK has increased by 12.7%, and DOGE and SHIB have increased by 5.6% and 5.9%, respectively. (Source: Rubmar Garcia)

Is PEPE ready to make a comeback? On-chain metrics have the answer With new, exciting meme coins coming to the fore, PEPE meme coins seem to have disappeared into the shadows. This can be attributed to the fact that BONK and other Solana ecosystem meme coins, among others, have drawn attention to the Ethereum ecosystem. However, as the excitement around these new meme coins begins to fade, expectations are back to the market leaders, one of whom is PEPE, who may be preparing to make a comeback. On-chain metrics are one way to know if investor interest is shifting towards a particular Crypto Assets (in this case, PEPE). These metrics include weighted sentiment, trading volume, new holders, and more. In this case, the focus is on weighted sentiment, which measures sentiment on social media platforms to understand how Crypto Assets investors perceive Tokens. This indicator can be useful, especially during periods when there is no clear indicator of where the Token price is going next. Therefore, by looking at what investors are saying about PEPE on social media platforms such as X (formerly known as Twitter), one can get a good idea of where the price will move next. Based on the weighted sentiment of the on-chain analytical tracker Santiment, PEPE looks quite optimistic. The indicator, which takes into account mentions of PEPE on social media platforms over the past week, indicates a significant rise in positive sentiment associated with meme coins. While the indicator is not the highest level so far this year, it is still at a fairly high level, indicating a shift in average sentiment. At the same time, the holdings of the largest PEPE Whale have increased dramatically, showing a willingness to accumulate at current levels. Weighted sentiment is not the only PEPE indicator that has grown significantly recently. Similarly, the daily trading volume of meme coins is also rising. The data shows that the trading volume of the meme coin increased by about 62% on the last day, reaching $89.8 million at the moment. This increase in trading volume may indicate buying or selling, but given that the PEPE price has remained stable during this time, it indicates more buying than selling. In light of this, this could indicate that the bulls have finally established support and marked $0.0000009 as a buy level. If this general bullish sentiment continues, then the meme Token could Rebound to $0.000001, which would mean a 10% rise from here. Due to last month's decline, PEPE lost its position as the third-largest meme coin in the space. Currently, it ranks fifth, behind the likes of BONK and CorgiAI. (Source: Scott Matherson)

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