November has been a bullish month for the cryptocurrency market, with several altcoins experiencing surges in trading activity and prices. The price rally has been buoyed by the US Presidential elections in which pro-crypto Donald Trump won.
Among the altcoins that have benefited are Pepe Coin (PEPE), Solana $222 (SOL), and the emerging Yeti Ouro (YETIO). All three have captured investor attention due to significant network activity, new listings, and presale developments.
Pepe Coin Targets 280% Gains Amid Record Trading Volume
Pepe Coin has been gaining traction following a spike in its weekly trading volume. PEPE is being traded at $0.00002017, with over $5.4 billion in trading volume.
PEPE recently became active because of the availability of its listings on popular trading platforms like Coinbase, Robinhood, and others, which enhanced its presence in the market. According to on-chain data from Santiment, PEPE was among the top 10 cryptocurrencies in terms of social media mentions during November as the price of the token surged.
Based on technical analysis, PEPE has the potential to increase its price by 280%. The bullish mode is confirmed by a breakout of the key consolidation structure, accompanied by the rise in investor interest and trading activity.
Solana Sets Record $318 Billion Transfer Volume, Raises Concerns
Solana’s blockchain reached a record high on November 16 with $318 billion in transfer volume, nearly three times its $112.5 billion market capitalization. Solana also saw 22 million active addresses on its network and recorded a daily revenue of $6 million on 20th November as depicted by DefiLlama.
Despite these metrics, questions have emerged about the organic nature of Solana’s growth. Glassnode pointed out that much of the activity could be automated, and indicated that mean and median transaction volumes were falling. Moreover, some liquidity pools in Raydium protocol on Solana had low liquidity but had high trade volumes, which could suggest wash trading.
According to the critics, wash trading in memecoins could be boosting Solana’s network metrics. But the bullish traders are hopeful that SOL may rise to $400 and the cup-and-handle pattern has been cited as a bullish indicator by analysts.
Yeti Ouro Attracts Investors Ahead of Stage 2 Presale Launch
The hot new utility memecoin in the cryptocurrency market is Yeti Ouro. This is a utility-driven meme coin that is attracting investors with its focus on Play-to-Earn (P2E) gaming. Yeti Ouro is a blockchain game that is based on Ethereum $3,550 and it uses token scarcity to provide the potential for future growth.
The project has a Yeti Go racing game where players can earn YETIO tokens when they engage in competitive gameplay using Unreal Engine. The game development team has released an exclusive video of the team at work. A total of one billion tokens will be issued with 5% of the tokens set to be burned to increase the scarcity of tokens. During Stage 1 of the presale alone, more than $508,000 was raised with Stage 2 soon to start with an additional limited 20% bonus for early investors.
With plans for exchange listings and continued community engagement, Yeti Ouro is positioning itself as a standout in the growing blockchain gaming space. Investors are eyeing the project as a potential contender in the utility-driven crypto market.
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