In the fast-paced world of cryptocurrency, early investors often reap the most significant rewards, and Pepecoin (PEPE) is a prime example. Those who got in on Pepecoin (PEPE) early saw massive gains, with some making millions as the meme coin soared in popularity. However, as Pepecoin (PEPE) faces challenges, a new contender has emerged on the scene—Mpeppe (MPEPE), a cryptocurrency positioned to potentially deliver similar returns.

Pepecoin (PEPE) Faces Decline But Hopes for a Rebound

Pepecoin (PEPE) has recently seen its value dip, spending the last 30 days in the red and recording a 34% loss. Currently trading at approximately $0.000007756, Pepecoin (PEPE) continues to struggle, with an additional 2.91% intra-day decline. Despite these setbacks, the community sentiment remains strong, with traders holding onto their Pepecoin (PEPE) tokens, as indicated by a 14.22% decrease in trading volume.

The optimism within the Pepecoin (PEPE) community stems from the coin’s RSI, which shows resilience within the neutral 40-50 zone. Analysts suggest that if Pepecoin (PEPE) can break above its 50-day EMA at $0.000009048, it could experience a surge in buying pressure, potentially triggering a bullish reversal in Q4.

Shiba Inu (SHIB) Loses Ground, Highlighting the Volatility of Meme Coins

While Pepecoin (PEPE) grapples with its downward trend, Shiba Inu (SHIB) is also facing significant challenges. Recently ousted from the Top 10 cryptos list, Shiba Inu’s market cap now stands at $8.28 billion. Trading at $0.00001406, Shiba Inu is down nearly 84% from its all-time high, with decreasing investor interest as indicated by a 4.46% drop in its 24-hour trading volume.

The bearish sentiment surrounding Shiba Inu is evident in its daily and 4-hour charts, with the coin trading below its exponential moving averages. Analysts predict that if Shiba Inu fails to hold its current support, the price may crash to the $0.00001336 level soon.

The Emergence of Mpeppe (MPEPE): A Promising Alternative

As Pepecoin (PEPE) and Shiba Inu (SHIB) face their respective struggles, a new cryptocurrency, Mpeppe (MPEPE), is quickly gaining traction as a potential high-reward investment. Positioned similarly to how Pepecoin (PEPE) was during its early days, Mpeppe (MPEPE) offers investors an opportunity to get in on the ground floor of what could be the next big meme coin rally.

Mpeppe (MPEPE) is priced at just $0.00177, making it an attractive option for those looking to replicate the success of early Pepecoin (PEPE) investors. What sets Mpeppe (MPEPE) apart is its innovative approach to the meme coin market, offering features that address some of the issues faced by its predecessors.

Why Mpeppe (MPEPE) Is Poised for Success

Mpeppe (MPEPE) is designed with deflationary tokenomics, ensuring that its value has the potential to increase over time. Mpeppe (MPEPE) plans to implement strategies that will reduce the circulating supply, thereby driving up demand and value.

Moreover, Mpeppe (MPEPE) is also tapping into the lucrative GambleFi sector, offering a unique blend of decentralized gambling options. This approach not only provides users with a secure and transparent betting experience but also taps into the $500 billion per annum casino market, positioning Mpeppe (MPEPE) as a serious contender in the crypto world.

Conclusion: Mpeppe (MPEPE) as the Next Big Opportunity

As the cryptocurrency market continues to evolve, early Pepecoin (PEPE) investors are now looking for the next big opportunity, and Mpeppe (MPEPE) is emerging as a strong candidate. With its low entry price, innovative features, and the potential for a significant rally, Mpeppe (MPEPE) is attracting attention from those who made millions with Pepecoin (PEPE) and are now looking to replicate their success.

For more information on the Mpeppe (MPEPE) Presale: 

Visit Mpeppe (MPEPE)

Join and become a community member: 

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

As expected, the bearish start in September has brought an increased amount of liquidation to the cryptocurrency market.

According to data provided by Coinglass, the total amount of crypto liquidations increased by 176% in the past 24 hours and is currently sitting at $155 million. Most of the liquidations came from Bitcoin (BTC), worth $45.6 million — $36.7 million longs and $8.9 million shorts.

Ethereum (ETH) witnessed $39.7 million in liquidations — $32.2 million longs and $7.5 million shorts — per data from Coinglass. 

The increased liquidations come as the global cryptocurrency market capitalization dropped by 2.7% over the past day, currently hovering at $2.1 trillion, according to CoinGecko data. N

BTC slipped by 1.5% in the past 24 hours and is trading at $57,500 at the time of writing. ETH recorded a 2% drop and is currently changing hands at $2,440.

Data from Coinglass shows that the largest single liquidation order, worth $10 million in the BTC/USDT pair, happened on Binance, the leading cryptocurrency exchange by trading volume.

Binance saw a total of $74.5 million in liquidations, followed by OKX’s $49.9 million.

According to Coinglass, bears have usually been dominant in September with the Bitcoin price seeing negative momentum in eight of the last 11 years. On average, BTC declined by 4.53% over the past 11 years in September.

Notably, the Bitcoin price witnessed bearish momentum in the third quarter of the past two years. Per Coinglass, BTC declined by 2.5% and 11.5% in Q3 2022 and 2023, respectively.

It’s still important to keep an eye on macroeconomic events which could potentially change the market direction. 

The Financial Times (FT) recently published a report detailing the financial state of Telegram, the messaging app founded by Russian-born billionaire Pavel Durov, and cryptocurrency’s significant role in its revenue stream.

According to the FT report by Robert Smith and Hannah Murphy, which was published on August 30, Telegram’s 2023 financials, which the publication obtained, reveal that the company generated $342.5 million in revenue while incurring a substantial operating loss of $108 million. This financial report, signed by Durov and audited by PwC’s Dubai branch, highlights the increasing importance of cryptocurrency to Telegram’s business model.

A noteworthy aspect of Telegram’s revenue is its reliance on digital assets, particularly Toncoins, which were originally developed by Telegram but are now maintained by an independent open-source community. The FT report emphasizes that over 40 per cent of Telegram’s revenue comes from two specific business lines: the “integrated wallet” and the “sale of collectables,” both of which involve transactions in Toncoins. These figures underscore the extent to which cryptocurrency transactions have become intertwined with Telegram’s financial performance.

The FT also sheds light on the complexities involved in accounting for these digital assets. Telegram’s financial statements reveal that the company recorded a modest gain of $500,000 through its profit and loss (PnL) statement but a much larger gain of $86 million through other comprehensive income, all related to the revaluation of digital assets. According to the FT, these gains are the result of revaluations of Telegram’s cryptocurrency holdings, reflecting the volatile nature of the digital asset market.

Moreover, the FT notes that Telegram’s balance sheet is heavily weighted with digital assets, which are valued at nearly $400 million, far surpassing the company’s cash and cash equivalents. This heavy reliance on cryptocurrency presents both opportunities and risks for Telegram, particularly in light of the recent arrest of Durov in France for allegedly failing to control criminal content on the platform. The FT suggests that this arrest has had an immediate impact on the value of Toncoins, as reflected in the sharp decline in their price following the news.

In addition to cryptocurrency-related revenue, the FT report reveals that Durov himself played a significant role in Telegram’s financial activities. Last year, Durov purchased $64 million worth of Telegram’s convertible bonds and also bought $300,000 worth of Telegram Premium subscriptions, using Toncoins as payment. The FT indicates that these transactions highlight the close ties between Durov’s personal finances and the company’s operations.

The FT report also touches on the legal and regulatory challenges facing Telegram, particularly in relation to its commitment to user privacy. Telegram’s core value of protecting user privacy has made it popular among users, but it has also attracted scrutiny from authorities in various countries. The FT highlights a warning in Telegram’s financial statements that the company’s operations could be affected by changes in legal and regulatory frameworks, a concern that seems particularly relevant in light of Durov’s recent arrest.

Finally, the FT raises questions about Telegram’s valuation, which Durov earlier this year claimed to be “$30bn-plus.” The report suggests that this valuation might be optimistic, given the company’s reliance on cryptocurrency and the substantial operating expenses it incurs relative to its revenue. The FT concludes that while Telegram has successfully leveraged cryptocurrency to bolster its revenue, the company faces significant challenges in navigating the complex and rapidly evolving regulatory landscape.

Featured Image via Pixabay