Pepe Investors Flock to New ICO With Potential for 1,859% Gains

As the Pepe (PEPE) price struggles to recover above key resistance levels following the recent market crash, investors are moving their capital to a new ICO seeking to capitalize on the current Olympic enthusiasm, which some experts believe could deliver 20x or 1,859% gains.

PEPE was last trading around $0.0000077, having already declined by approximately 30% over the month.

While Pepe managed a strong recovery from its Monday lows of around $0.000006, it has encountered significant resistance.

The 200-day moving average (just under $0.000008) and the July lows are currently acting as barriers to further upward movement.

PEPEUSD / Source: TradingView

If PEPE fails to break above this key resistance zone, a drop back to April lows below $0.000004 is possible.

It is no surprise, then, that Pepe investors are shifting their focus to an exciting new ICO called The Meme Games (MGMES).

The Meme Games is a new Olympics-themed meme coin generating significant buzz in crypto trading circles as Olympic fever intensifies.

With the Olympics not issuing an official token, a gap has been left for crypto market participants to create their own offerings.

The Meme Games (MGMES) is thus positioning itself as the leading “unofficial” meme coin of this Olympic Games.

The new cryptocurrency MGMES features five of the top meme coins, which participate in a fun play-to-earn game.

Olympics Meme Coin MGMES – Key Details of the New ICO

The new Olympics-themed meme coin, The Meme Games, launched its ICO just a few weeks ago. Despite its recent start, it has already attracted over $300,000 in early investment.

MGMES tokens are currently available for $0.0092 each. With a total token supply of 2.024 billion, this values the project at a modest market capitalization of under $20 million.

However, investors seeking a favorable valuation must act quickly.

The MGMES price is scheduled to increase in just over five days.

To participate in The Meme Games, presale investors must select one of their favorite meme coin characters. The five options include Dogecoin, Pepe, DogWifHat, Brett, or Turbo.

Their chosen character then competes in a 169-meter sprint, where they have a 20% chance of winning a 25% bonus on their presale purchase.

69 people have won a 25% bonus by picking $PEPE at the #MemeGames!

Coincidence or destiny?

Choose from 5 meme icons and you could score a 25% bonus on your $MGMES purchase if they win the race!

Join now! https://t.co/lbYNWg8iXr#Paris2024 #Presale #Crypto #Alts pic.twitter.com/q4Tdbzkpo5

— The Meme Games (@MemeGames2024) August 2, 2024

The Meme Games’ new ICO runs concurrently with this year’s Olympic Games in Paris, which conclude on September 8.

On September 10, MGMES will list on decentralized exchanges. The project aims to follow the trajectory of other successful meme coins, with its price potentially set to surge.

See below for insights from Cryptonews.com’s in-house analyst, Chester, who believes MGMES has 100x potential.

MGMES – A Hidden Passive Income Opportunity?

Potential investors should note that they can put their MGMES holdings to work, earning passive income immediately through staking.

Current yields are around 624% APY. At this rate, investors could nearly double their initial MGMES holdings by the time the presale closes in September.

However, as the presale progresses, the APY will decline.

Nonetheless, MGMES appears poised to be one of the top crypto staking coins this summer.

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