MINKY On Base Surges 145% in a Single Day, Could It Be a Substitute for PEPE?

In an impressive overnight surge, MINKY on Base has skyrocketed, with the MINKY price increasing by +145%. Is the viral PEPE alternative, Pepe Unchained, the top investment choice as we approach September?

This article will analyze the price movements surrounding MINKY’s recent breakout and discuss why heightened interest has prompted crypto analysts to identify Pepe Unchained as the ‘best crypto to purchase‘ for September.

#Solana
$MINKY SCAM!
#18 TRENDING
LP: 1 billion tokens. The developer retained nearly 80% of the supply, distributing these tokens across 100% of wallets. Each wallet is holding the tokens!
Definitely a rug, so exercise caution!
CA: 2VxGLaMFFimncfdrMBF1Q6oyXYTJSjdLARtAJjeqpump… pic.twitter.com/4HV0hZmpC3

— CryptoBabyAlerts (@BabyAlerts7) August 30, 2024

Nevertheless, amidst this remarkable movement, accusations of a ‘scamcoin’ are circulating within the crypto community on X, with some asserting that the developer controls 80% of the supply.

MINKY Price Analysis: How Is MINKY on BASE Performing Amid Scamcoin Allegations?

Before delving into the price analysis, let’s examine the assertion that MINKY is predominantly owned by the developer by reviewing bubble maps, which clearly illustrate a significant concentration of connected holdings.

A detailed examination using an advanced analytical dApp called InsightX reveals that this potential developer cluster currently holds a staggering 59.46% of the total supply in the possession of a single user.

This figure is lower than what was indicated in the previous tweet, which suggests that the developer is, at the very least, capitalizing on market strength—for the time being.

However, this situation also places retail investors and newcomers to MINKY at risk of a rug-pull should a broader sell-off occur, potentially prompting the developer to liquidate the remainder of their holdings.

For this reason, it is advisable to proceed with caution regarding this trade; however, shifting focus to the technical framework, it is evident that MINKY price remains firmly within an impressive upward trading channel.

This includes a recent well-supported decline to test 20DMA support around $0.00015, likely triggered by selling pressure from the developer cluster.

Additional caution is warranted due to the RSI, which is exhibiting some bearish divergence at an oversold 61. However, this contrasts with robust buying pressure in the order book, as bulls maintain their dominance, with taker buys accounting for 85% of transactions over the past hour.

While these taker buys are modest compared to the potential selling pressure from the developer cluster, they indicate strong retail interest, which, if coupled with responsible actions from the developer (i.e., gradual selling into strength), could uphold the current upward price trend.

Overall, the MINKY price reflects an initially attractive chart structure that persists only due to the current goodwill of a questionable developer. Adjust your risk tolerances accordingly.

Pepe Unchained Is Analyst’s Selection For The Top Meme Coin Investment of September

While MINKY on BASE may present excessive risk, the potential of this emerging PEPE alternative cannot be overlooked.

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

However, this initiative is much more than just a classic frog meme – it aims to reinvent the now-iconic Pepe – but in a better way.

What is the issue with Pepe? The answer is straightforward: in an era of high-performance Solana markets – Ethereum is the legacy chain – it is slow, costly, and cumbersome – it lacks appeal.

We’ve surpassed $11M! pic.twitter.com/gmbUxi6JhL

— Pepe Unchained (@pepe_unchained) August 29, 2024

Yet, with PEPE initially launched as an ERC-20 token, this has hindered the establishment of a genuine PEPE ecosystem.

Fortunately, PEPU is here to revolutionize the landscape – with the introduction of a high-speed, low-cost layer-2 specifically designed for meme coin developers to build upon the original token.

In this context, PEPU can be viewed as PEPE 2.0 – the same foundational coin – but improved.

So, do not miss out on this nearly $11M+ presale surge.

Buy PEPU Here

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