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Meme Coins Roundup: PEPE, POPCAT, SUNDOG Explode

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The third week of August  2024 has been eventful for meme coins. Unlike the second week, when a ton of the top-ranking cryptos endured losses, most meme coins posted gains.

Among the plethora of tokens, Ethereum-based Pepe (PEPE), Solana’s Popcat (POPCAT), and the recently launched Sundog (SUNDOG) on Tron were the standout performers. Here is a breakdown of what drove their massive gains.

PEPE’s Trading Volume Soars, Comes Back Alive

After a low period of activity, the price of frog-themed PEPE increased by 25% in the last seven days. The surge was largely driven by renewed interest, especially on August 23. On the mentioned date, the price of the meme coin jumped from $0.0000080 to $0.0000090 within a few hours.

This price increase was also accompanied by a sudden rise in trading volume, leading to speculation that PEPE’s price could be primed for more gains. As of this writing, the trading volume is almost $1 billion, representing a 106% hike in the last 24 hours.

From the technical angle, the daily PEPE/USD chart revealed that the token had earlier formed a bearish pennant. The pennant is a technical pattern that suggests a likely continuation of a downtrend after a brief consolidation period. 

However, as seen below, bulls invalidated the pattern. Indications from the Relative Strength Index (RSI) show that a rise in buying momentum helped neutralize bearish desire.

The RSI measures momentum using the size and speed of price changes. If it increases, momentum is bullish, but a decrease indicates otherwise. 

Read more: What Are Meme Coins?

Pepe Daily Analysis.
Pepe Daily Analysis. Source: TradingView

In addition, the chart above shows that the RSI reading continues to move to the upside. If this trend continues, PEPE’s price might rise to $0.000010, where the 61.8% golden pocket ratio positions. 

However, if crypto whales resume selling off the token or meme coins exit the recent mania, the price might retrace. Should this happen, the meme coin could drop to $0.0000082.

POPCAT Leverages Binance Listing

POPCAT, one of the top meme coins on Solana, posted an impressive 67.38% price increase this week. According to BeInCrypto’s findings, the viral cat-themed token hit a dramatic spike after Binance announced listing it on its futures market.

On the same day, Lookonchain reported that a whale purchased the meme coin, valued at a staggering $5.73 million. This development strengthened POPCAT’s upswing as the price hit $0.77.

Before POPCAT’s notable increase, the cryptocurrency was confined in a symmetrical triangle. This triangle appears when two trendlines connect a series of swing highs and lows converge.

In most cases, a breakdown below the technical pattern leads to a lower price. However,  for POPCAT, it broke above the pattern while helping the price hit a monthly high. Furthermore, the Bollinger Bands (BB) has expanded, indicating extreme volatility around the Solana-based token.

Also, the upper band of the indicator had tapped POPCAT’s price. Typically, if the lower band hits the price, it is oversold. Therefore, the opposite happening indicates that the meme coin is overbought, suggesting that the price might decrease.

The Balance of Power (BoP), which measures buying and selling strength, appears to support this thesis because the reading was turned down. 

Popcat Daily Analysis.
Popcat Daily Analysis. Source: TradingView

For context, a rising BoP indicates that buyers’ strength outweighs sellers. But a falling one indicates sellers’ dominance. Thus, it seems that traders are booking profits from the recent increase. 

Should this continue, POPCAT’s price might drop to $0.63. However, if buying pressure outpaces the selling volume, this prediction could be invalidated. Should this be the case, the value could hit $0.83.

SUNDOG Price Hits Another Peak

Talk about saving the best performer for the last. Sundog is a meme coin launched on Tron, thanks to the recently developed SunPump, a token generator conceived by Justin Sun, the blockchain’s founder.

Today marks nine days since the meme coin was launched. Within that short period, the price has increased by over 100 times its initial value. This price increase could be connected to the hype around SunPump’s development and the shift in attention from  Solana meme coins to Tron’s.

In the last seven days, SUNDOG’s price has increased by almost 400% and recently hit a new high of $0.28. On the hourly timeframe, the price has slightly decreased to $0.26. Additionally, the Fibonacci retracement shows a potential pullback to the 23.6% level at $0.25.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Sundog Hourly Analysis.
Sundog Hourly Analysis. Source: TradingView

Should holders of the meme coin realize more gains, the value might drop. However, the broader market expects SUNDOG to get more exchange listings like other meme coins. If this happens in the coming week, the price might surpass $0.28 and reach a new all-time high close to  or above $0.30

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Strategy’s 12% YTD Yield and $555M Acquisition

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Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee to see what experts say about Bitcoin’s (BTC) price amid recovery efforts. The status of Bitcoin as a hedge against inflation and economic uncertainty is progressively becoming questionable, with institutional influence adding to the concerns.

Can Strategy’s $555 Million BTC Purchase Send Bitcoin Past $90,000?

Michael Saylor, the chairman of Strategy (formerly MicroStrategy), revealed the firm’s latest Bitcoin purchase, comprising 6,556 BTC tokens worth approximately $555.8 million. With this, the firm has attained a Bitcoin yield of 12.1% year-to-date (YTD) in 2025.

“MSTR has acquired 6,556 BTC for ~$555.8 million at ~$84,785 per bitcoin and has achieved BTC Yield of 12.1% YTD 2025. As of 4/20/2025, Strategy holds 538,200 BTC acquired for ~$36.47 billion at ~$67,766 per bitcoin,” Saylor shared.

Strategy uses the Bitcoin Yield YTD to measure the BTC holdings per share increase. This model has been a key part of their financial strategy firm since their first Bitcoin purchase in August 2020.

This acquisition aligns with a bullish market sentiment for Bitcoin, which is steadily nearing the $90,000 milestone, as the recent US Crypto News indicated.

Bitcoin (BTC) Price Performance
Bitcoin (BTC) Price Performance. Source: BeInCrypto

Despite a mild recovery in Bitcoin prices this week, up by over 3% in the last 24 hours, it is worth noting that Bitcoin is highly sensitive to economic indicators.

Similarly, the global market is highly sensitive to monetary policies set by major economies, particularly the US. BeInCrypto contacted Paybis founder and CEO Innokenty Isers for insights on the current market outlook, particularly for Bitcoin.

“Given the strong concentration of investors in technology stocks, shifts in trade policies and government interventions that influence key indices like the Nasdaq Composite create ripple effects across financial markets,” Isers told BeInCrypto.

According to the Pybis executive, since the US Presidential inauguration, the outlook of Bitcoin has changed from a trusted hedge against inflation to a more risk-on asset.

“With its relatively higher volatility, risk-averse investors may favor alternative inflation hedges instead of Bitcoin,” he added.

Iners expressed cognizance of the longer stretch of the trade war and the potential inflation that will emerge. Based on this, he noted that capital allocation to Bitcoin as a hedge against economic instability might be reduced.

Strategy’s Stock Premium Narrows as Bitcoin Hype Cools

Meanwhile, Strategy has seen a significant shift in its stock valuation dynamics over the past year. Saylor recently revealed that as of Q1 2025, over 13,000 institutions and 814,000 retail accounts held MSTR directly.

“An estimated 55 million beneficiaries have indirect exposure through ETFs, mutual funds, pensions, and insurance portfolios,” Saylor added.

According to data on Bitcointreasuries.net, the premium investors once paid for exposure to its Bitcoin holdings has notably narrowed.

Specifically, the NAV multiplier, a measure of how much the stock trades above the value of Strategy’s Bitcoin assets, has decreased compared to last year. This indicates that MSTR is now trading closer to the actual value of its Bitcoin reserves.

In 2024, investors were willing to pay a substantial premium for MSTR shares, driven by Bitcoin’s hype and MicroStrategy’s aggressive accumulation strategy.

“I don’t know if buying strategy equity is a good idea for the government. The stock would just pump, and it’s likely trading at a premium over NAV with a higher risk profile. Also, I believe the gov will find it difficult to find institutions that would be willing to sell their BTC in large quantities,” an analyst said recently.

The shrinking NAV multiplier suggests a more cautious market sentiment. Analysts believe this reflects a shift toward valuing MicroStrategy based on its fundamentals rather than speculative Bitcoin enthusiasm.

This suggests a maturing market approach to the company’s unique investment strategy.

Chart of the Day

Strategy (MSTR) NAV multiplier
Strategy (MSTR) NAV multiplier. Source: Bitcoin treasuries

This chart shows how Strategy’s stock price (blue) moves with Bitcoin price (orange). When Bitcoin goes up, MicroStrategy usually follows, but it swings even more.

However, the NAV multiplier has narrowed compared to last year, meaning MicroStrategy’s stock is now trading closer to the actual value of its Bitcoin holdings.

Last year, investors paid a bigger premium for exposure to MSTR, but that gap has shrunk. This suggests a more cautious sentiment or a shift toward valuing the company based on fundamentals rather than just Bitcoin hype.

Byte-Sized Alpha

Crypto Equities Pre-Market Overview

Company At the Close of April 17 Pre-Market Overview
Strategy (MSTR) $317.20 $323.49 (+1.98%)
Coinbase Global (COIN) $175.03 $175.85 (+0.46%)
Galaxy Digital Holdings (GLXY.TO) $15.36 $15.12 (-1.41%)
MARA Holdings (MARA) $12.66 $12.83 (+1.34%)
Riot Platforms (RIOT) $6.49 $6.52 (+0.54%)
Core Scientific (CORZ) $6.61 $6.59 (-0.27%)
Crypto equities market open race: Finance.Yahoo

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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PI Token Price Faces Bearish Pressure, Risking a Drop to $0.40

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PI has been on a steady downtrend since February 26, shedding 72% of its value as bearish sentiment continues to weigh on the token.

Bearish pressure continues to mount on the PI token, suggesting that it may be poised to enter a new phase of decline. 

PI Network Risks Fresh Decline

An assessment of the PI/USD one-day chart reveals that token holders remain steadfast in their distribution. At press time, PI’s Balance of Power (BoP) is negative, reflecting the selling pressure in the market. 

PI BoP.
PI BoP. Source: TradingView

The BoP indicator measures the strength of buying versus selling pressure by comparing the close price to the trading range within a given period. When BOP is negative like this, it indicates that sellers are dominating the market, suggesting downward pressure on the asset’s price.

Further, the setup of PI’s Chaikin Money Flow (CMF) supports this bearish outlook. At press time, this is below the central line at -0.12.

PI CMF
PI CMF. Source: TradingView

The CMF indicator measures an asset’s buying and selling pressure. A negative CMF reading suggests that the asset is experiencing more selling pressure than buying pressure. This means PI traders are distributing rather than accumulating. This signals bearish sentiment and confirms the downward momentum in the token’s price.

Sellers Tighten Grip on PI, But Recovery to $1.01 Still on the Table

At press time, PI trades at $0.63, below the dynamic support formed above it at $0.93 by its Super Trend indicator. 

The Super Trend indicator helps traders identify the market’s direction by placing a line above or below the price chart based on the asset’s volatility

When an asset’s price trades below the Super Trend line like this, it signals a bearish trend and hints at potential decline. If PI’s decline strengthens, it could revisit its all-time low of $0.40. 

PI Super Trend Indicator
PI Super Trend Indicator. Source: TradingView

However, if demand returns to the PI market, its price could break above the resistance at $0.86 and surge to $1.01. 

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Circle, BitGo, and Others Eye Bank Charters in US

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With support from Trump’s White House and easing regulations, firms like Circle and BitGo are pursuing becoming full-fledged financial institutions.

Reports indicate a new wave of crypto companies knocking on the once-closed doors of the American banking system. This time, someone is listening.

Crypto Firms Seek Bank Charters as Wall Street’s Doors Reopen

After years of being sidelined, crypto companies are coming back, this time through the front door of the US banking system.

Citing sources familiar with the matter, the Wall Street Journal revealed that several major players, including Circle and BitGo, are preparing to apply for bank charters or financial licenses.

Traditional banks are also responding to the shift. US Bancorp is re-launching its crypto custody program via NYDIG, while Bank of America (BofA) said it would issue its stablecoin once the legal framework is in place.

Even global giants are watching closely. A consortium including Deutsche Bank and Standard Chartered is evaluating how to expand crypto operations into the US.

While details remain scarce, the interest signals that crypto is no longer just a niche but a competitive frontier.

These firms reportedly aim to operate with the same legitimacy and access as traditional lenders. This includes holding deposits, issuing loans, and launching stablecoins under regulatory supervision.

The timing is not random. A sharp pivot in federal policy, driven by President Trump’s pledge to make the US a Bitcoin superpower, has reopened regulatory pathways once shut after the FTX collapse.

In parallel, Congress is advancing stablecoin legislation requiring issuers to secure federal or state licenses.

The push for bank status comes amid a broader effort to legitimize crypto within US finance. Earlier this year, regulators rolled back key restrictions. Among them, the SEC’s controversial SAB 121, which had blocked banks from holding crypto on behalf of clients.

Meanwhile, Federal Reserve (Fed) Chair Jerome Powell affirmed that banks could serve crypto customers provided proper risk management strategies exist.

In another regulatory green light, the Office of the Comptroller of the Currency (OCC) clarified that banks can offer stablecoin and custody services. However, this is provided they comply with established banking rules.

These signals have emboldened crypto firms previously kept at arm’s length. Anchorage Digital, the only US crypto-native firm with a federal bank charter, says the regulatory lift is massive but worth it.

“It hasn’t been easy… the whole gamut of regulatory and compliance obligations that banks have can be intertwined with the crypto industry,” Anchorage CEO Nathan McCauley reportedly admitted.

McCauley cited tens of millions in compliance costs. Nevertheless, Anchorage has since collaborated with BlackRock, Cantor Fitzgerald, and Copper for high-profile custody and lending programs.

BitGo, which will reportedly custody reserves for Trump-linked stablecoin USD1, is nearing a bank charter application.

Circle, the issuer of USDC, is also pursuing licenses while fending off competition, just like Tether. This is a traditional finance (TradFi) venture into stablecoins.

The firm delayed its IPO this month, citing market turmoil and financial uncertainty. However, insiders say regulatory clarity remains a top priority.

Firms like Coinbase and Paxos are exploring similar routes, considering industrial banks or trust charters to expand their financial offerings legally.

At the policy level, venture firm a16z has called on the SEC to modernize crypto custody rules for investment firms, reflecting the industry’s hunger for clarity and parity.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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