The price of Pepe (PEPE) has surged over 13% in the past few hours after Binance announced the launch of a new promotion for the token on its Simple Earn platform.

However, it’s not just PEPE turning heads – presale project Bitcoin Minetrix (BTCMTX) has also captured investor interest after raising an impressive $11.3 million in funding.

PEPE’s price is now hovering around $0.00000132, its highest value since January 12.

This price pump came after Binance announced a new Simple Earn promotion on Twitter.

Essentially, Binance is incentivizing people to buy and hold PEPE by offering free tokens and increased interest rates – which is driving fresh demand.

There are two elements to the promotion, with the first being 700,000 free PEPE to new Simple Earn Locked Product users who correctly complete a quiz.

The second element allows all Binance users to earn an extra 9% APR on top of the real-time APR simply for holding PEPE.

With more investors eager to capitalize on this offer, buying pressure for PEPE has skyrocketed.

24-hour trading volume is up 117%, reaching $225 million.

Yet the question remains whether this is simply a short-term pump from the promotion or if PEPE can sustain higher levels when it ends.

PEPE’s Technicals Hint At Further Bullish Momentum Ahead

Looking at PEPE’s technicals, there are reasons to believe that the price surge seen in the past few hours may have staying power.

On the daily chart, PEPE appears to be breaking out of a bull flag pattern that has been forming since February 15.

These patterns typically see an explosive upward breakout.

PEPE seems to be confirming this, breaking through resistance at $0.00000130.

Additionally, PEPE has tapped the 200-day Simple Moving Average (SMA) as support before moving higher.

This SMA often acts as a price floor, providing a backstop during pullbacks.

So, while the Binance promotion may be a short-lived catalyst, the technical picture indicates there could be further upside for PEPE even without those incentives.

The bull flag breakout, moving average support, and previous rise in early February all signal that PEPE could have the momentum to reclaim the yearly high set on January 10.

Is Meme Kombat The Next Meme Coin to Surge as Exchange Listings Near?

All of the buzz around PEPE has prompted a search for the next breakout meme coin.

One new meme coin vying for attention is Meme Kombat (MK), with its first exchange listing less than two weeks away.

Meme Kombat offers a fun, meme-inspired battle arena where MK holders can bet on hilarious fights.

The outcome of each fight is determined on-chain, with those who bet on the winning fighter receiving more MK tokens.

There is also a staking system where users can earn rewards just for locking up their MK tokens.

By staking MK and backing different fighters in the battle arena, users have multiple ways to potentially profit.

This gaming-focused approach and the hilarious visuals make Meme Kombat an eye-catching new entry to the meme coin market.

Meme Kombat’s presale recently hit its $10 million funding goal, leading to massive acclaim on Twitter and Telegram.

However, interested investors have one final opportunity to purchase MK tokens for the discounted rate of $0.279 before Meme Kombat lists on exchanges.

No specific exchanges have yet been announced, but given Meme Kombat’s huge presale raise, some believe MK could be listed on Tier-1 platforms.

Ultimately, the recent hype around PEPE has been great news for smaller meme coins like Meme Kombat.

With its open market debut on the horizon, MK could be worth watching for a potential price surge soon.

Investors can still buy MK tokens at memekombat.io using ETH, USDT, or BNB.  

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• Source: https://coinpedia.org/press-release/pepe-price-rises-after-could-this-new-meme-coin-surge-next/