MINKY On Base Explodes 145% Overnight, Is This PEPE Alternative Next?

August 31, 2024 4:19 AM | 4 min read |

In a stunning overnight rally, MINKY on Base has exploded, with MINKY price climbing +145%, yet is viral PEPE alternative Pepe Unchained the best buy heading into September?

This article will explore the price trends around MINKY’s recent breakout move and explain why popular interest has led crypto analysts to label Pepe Unchained as the ‘best crypto to buy‘ for September.

However, amid the sensational move, allegations of a ‘scamcoin’ are already ripping through the crypto community on X – with some claiming the developer holds 80% of supply.

MINKY Price Analysis: How Is MINKY on BASE Shaping Up Amid Emerging Scamcoin Allegations?

First, before we dig into the price analysis, let’s investigate the claim that MINKY is likely owned by the developer by pulling up bubble maps—which instantly showcases a major cluster of connected holdings.

A closer inspection using an advanced analytical dApp named InsightX, reveals the extent of this potential developer’s cluster – currently standing at a shocking 59.46% of total supply in the hands of one user.

This is less than highlighted in the above tweet, two hours prior, which demonstrates that the developer is, at the very least, selling into strength—for now.

However, this also leaves retail investors and late entrants to MINKY exposed to overhead rug-pull risk in the event of a wider sell-off, which could spook the developer into dumpling the rest of their holdings.

For this reason, I advise exercising caution with this trade; although shifting attention to the technical structure, it’s clear to see the appeal as MINKY price holds tight in an impressive ascendant trading channel.

This includes a recent well-defended drop-down to test 20DMA support around $0.00015 – possibly triggered by sell pressure from the developer cluster.

Further caution comes from the RSI, which is showing some bearish divergence at an oversold 61. However, this contrasts with strong buy pressure in the order book as bulls retain their dominance, with taker buys representing 85% of transactions over the past hour.

While this taker buys pale compared to the potential sell-pressure from the developer cluster, it demonstrates strong retail interest, which, if met with responsible behavior from the developer (i.e., distributing gently into strength), could sustain the current ascendant price trajectory.

Overall, the MINKY price suggests an initially alluring chart structure that survives only due to the present benevolence of a fishy developer. Adjust your risk tolerances accordingly.

Pepe Unchained Is Analyst’s Pick For The Best Meme Coin Buy of September

While MINKY in BASE might offer undue risk, it’s hard to ignore the potential of this emerging PEPE alternative play.

As we look ahead to September, one of the most promising projects emerging in the summer market is Pepe Unchained.

But this project is so much more than a classic frog meme – this is about redoing the now legendary Pepe – but right.

What's the problem with Pepe? The answer is simple: in an age of high-octane Solana markets – Ethereum is the old chain – it's slow, it's expensive, it's clunky – it's not cool.

Yet, with PEPE originally launching as an ERC-20 token, this has stifled the development of a true PEPE ecosystem.

Luckily, PEPU is here to change the game – with the launch of a high-speed, low-cost layer-2 bespoke made for meme coin developers to expand on the original token.

In this light, PEPU can be seen as PEPE 2.0 – the same original coin – but better.

So don't miss out on this near $11M+ skyrocket presale.

Buy PEPU Here

The post MINKY On Base Explodes 145% Overnight, Is This PEPE Alternative Next? appeared first on Cryptonews.

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