Pepe coin price has crashed this year, erasing most of the gains made a few months ago. It peaked at a record high of $0.00002820 in December and fell by over 55% to the current $0.00001257. With Pepe price in a deep bear market, let’s explore some of the best crypto alternatives to buy.
Why Pepe coin price is crashing
The Pepe coin price has plunged this year for several reasons. First, the drop is part of the ongoing retreat in the crypto market. Bitcoin has dropped from a record high of $109,200 to the current $104,000. Other popular meme coins, such as Shiba Inu, Dogwifhat, and Popcat, have also imploded.
Second, Pepe has dropped as sentiment from investors falls, leading to more sellers than buyers. Further, it has crashed after forming the highly risky death cross pattern as the 50-day and 200-day moving averages cross each other.
There are signs that the Pepe coin price will bounce back. Besides, it has always recovered after moving into a deep correction. It is also one of the most meme coins, meaning that it just needs a single catalyst for the price to bounce back. Here are some of the best Pepe alternatives to buy.
Mantra (OM)
Mantra is one of the best Pepe coin alternatives. In the last 12 months, it has beaten Pepe, jumping almost 4,000%. The coin recently reached a record high of $5.1, as demand for tokenization assets soared.
Mantra price has formed a bullish flag chart pattern, whose flag pole is at least 260%. Therefore, measuring this distance from the upper side of the flag means that the OM price will soar to over $10 in the longer term.
Hedera Hashgraph (HBAR)
Hedera Hashgraph is another top Pepe coin alternative to buy. Like Mantra, it has beaten Pepe after soaring by over 650% from its lowest point in October. Hedera has thrived as odds of a spot Hedera Hashgraph ETF approval rises and as the number of developers in its ecosystem soars. The total value locked (TVL) in its ecosystem has soared to a record high.
Hedera has formed a bullish flag chart pattern, consisting of a tall vertical line and some consolidation. The flag pole has a distance of about 834%, meaning that a surge from the current $0.32 to almost $3.
Solana (SOL)
Solana is another top Pepe coin alternative to buy and hold. It is a top layer-1 network that has become the biggest competitor to Ethereum. It has become the biggest chain for minting meme coins and other tokens. Some of the top meme coins in the ecosystem are Bonk, Fartcoin, Dogwifhat, Official Trump, and Pudgy Penguins.
Solana is also a big name in the Decentralized Finance (DeFi), where popular names like Raydium, Jupiter, and Jito have become behemoths.
For example, Raydium has become the largest player in the DEX industry, while Jupiter is a big name in the perpetual futures sector. Jito, the biggest liquid staking network in Solana, has become the second most profitable player in the crypto industry.
Solana price has formed a cup-and-handle pattern like chart pattern and is now in the handle section. Therefore, it will likely soar, with the next point to watch being at $500.
Other Pepe alternatives to buy
The other popular Pepe coin alternatives to buy and hold are Stellar Lumens, Ripple (XRP), Official Trump, and Chainlink.
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