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Bitcoin (BTC) started the crypto bull run, Pepe (PEPE) followed the lead. Interestingly, KangaMoon tokens are currently in the first stages of a prevent event. Let’s take a closer look at the factors driving this altcoin rally and who stands to benefit the most.
Institutional Dollars Flooding into Bitcoin (BTC)
Since hitting a low point of just under $15,000 in 2023, Bitcoin has made a remarkable recovery and reached a new all-time high of $73,800 on March 14, 2024. While the price has since corrected to below $71,000 at the time of writing, all signs point to a continued upward trend for ‘the orange coin’.
The spot Bitcoin ETFs arriving this year appear to be the main driver behind the recent surge. With billions of dollars flowing into Bitcoin through these ETFs each day, it’s no surprise that the supply is struggling to keep up with the demand.
Next up on the Bitcoin agenda is the halving event, set to occur in April 2024. This event, which happens every four years, tends to cause a supply shock as the block rewards for miners are cut in half, creating scarcity and driving up prices.
With the recent halving event and growing institutional adoption, Bitcoin could potentially reach a price of $300,000 per coin by the end of 2024. Bitcoin becoming a $6 trillion asset may seem like a stretch, but with Gold – sometimes compared with Bitcoin — worth $13.50 trillion, it might not be as far off as some skeptics think.
Pepe (PEPE)’s Potential to Leap to New Heights
The market isn’t moving as it would in previous bull cycles. Usually, Bitcoin would lead with a parabolic move, followed by altcoins like Ethereum, and then memecoins would shoot for the moon.
However, this time, memecoins are rallying alongside Bitcoin as retail investors look for the largest possible returns. And leading this charge is Pepe, a relatively new memecoin represented by the famous ‘Pepe the Frog’ character.
The Pepe price has risen from $0.000001300 at the end of February to above $0.00001085 in the second week of March. Near 10x gains in such a short span of time are impressive, and Pepe’s market capitalization is now sitting above $4.50 billion.
But can Pepe continue to carry on this momentum and rise? Bullish analysts point to Pepe arguably having the best branding and community support among the memecoins. Going anywhere on crypto Twitter is impossible without seeing the cheeky frog at his desk or on a rocket ship.
With Shiba Inu hitting a peak of $40 billion in the 2020/21 bull run, analysts can foresee Pepe matching or even surpassing that value, given its strong branding and community. This would represent nearly 10x gains from its current market cap of $4.50 billion.
KangaMoon (KANG)’s Presale Launch
KangaMoon combines the best aspects of meme culture, gaming, and rewards into a single platform.
Players of KangaMoon start with a Kangaroo character that can be customized with different outfits and accessories. The game features various challenges and adventures, where players can earn KANG tokens that can be used for in-game purchases or exchanged for other cryptocurrencies.
The P2E (play-to-earn) concept has gained much traction recently. The global play-to-earn NFT games market is expected to expand at a CAGR of 17.93% to reach USD 8856.95 million by 2028. Capturing just a fraction of this market could bring significant value to KangaMoon and its investors.
KangaMoon is a place for the community to come together and have fun, with regular events and competitions to engage players. The social-fi aspect of the project also allows players to connect with each other and make new friends.
KANG tokens can be bought before the game launches during the presale event.
Explore opportunities available in the KangaMoon (KANG) presale today!
Website: https://KangaMoon.com/
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