- 1 PORK has a tremendous token supply of 420 Trillion, which has raised concerns about its distribution and long-term value.
- 2 The Pepe Fork asset is showing bullish strength and strong potential as it approaches key EMA levels.
PORK is a meme coin that emerged from a fork of PEPE. PORK is more than just a meme coin; it represents a lively subculture within the wider crypto community. PORK quickly gained traction and reached a market cap of around 3 Million after launching on Uniswap and MEXC.
PORK’s success, however, is not without controversy. Some investors have blamed PORK for being a scam and a Ponzi scheme, alleging that the funds and budgets were mismanaged and the token supply was manipulated. These accusations have created a negative portrayal of PORK, affecting its credibility and stability in the market. The crypto community has witnessed a shift in sentiment as investors question the legitimacy of PORK and its promoters.
One of the key figures behind PORK’s promotion is Pauly0x, a pseudonymous person who has also been involved in the controversy. Pauly0x has faced allegations of shady practices and Ponzi schemes. Pauly0x, however, has denied these allegations and blamed the Pepe developers for being the real scammers, creating a clash of claims and counter-claims.
Source: they made it up.
I forked @pepecoineth.
RIP to the idiots who stay behind with a $pepe team of verifiable scammers and liars.
This is why maximalism gets you killed.
People rebrand their entire identity around a crypto project run by anons.
Game over. 🪦$PORK https://t.co/gupBZCt9oq
— PAULY (@Pauly0x) January 31, 2024
Source: By X.com
PORK token has a supply of 420 Trillion, which has raised concerns about its distribution and long-term value. PORK’s market cap ranks it among the top 2,300 projects on CoinMarketCap, but its token supply has coal-fired discussions within the community.
Source: By Etherscan.io
PORK is a meme coin that has captured the market’s attention, but it also faces challenges and controversies that could affect its future. PORK is a case study of the power and pitfalls of community-driven projects and influencer-driven promotions in the cryptocurrency space.
PEPE Fork Chart Evaluation: 1-Day & 1-Hour Time Frame
Source: PORK/USDT MEXC.1.D. by TradingView
PORK crypto took flight on January 30th, 2024 from a doji candlestick; the price went up 940% to $0.0000009094. However, as per the fibonacci levels, the price has slipped to 0.618 fibonacci level from the short-term supply level. The daily trend has turned bullish as the price is at a key buying level.
The PORK crypto asset has demonstrated good performance in the past week by 237.11%, indicating a reliable upward trend.
The PORK crypto experienced a decline of 14.39% in the last 24 hours, which is a correction as per the fibonacci levels. The CMP is trading at $0.0000004654. Also, the Pepe Fork crypto has displayed a sign of revival as the price is trying to sustain on a critical level of around $0.0000004000 on the charts.
Now, it seems like the PORK crypto is poised for a spectacular rally as it prepares to pierce through the resistance level and soar to new heights from the current support zone $0.000004000.
The Pepe Fork asset is showing bullish strength and rising potential as it nears major EMAs. This phenomenon on the 1-H chart highlights bullishness.
Furthermore, the asset is in an uptrend and the RSI is suggesting that the Pepe Fork crypto asset has more room to grow. Besides, the curve is above 14-SMA and the curve is at 41.09 and 14-SMA at 40.91, respectively.
Therefore, if the demand for the PORK surges, the asset price could bounce back from the current level. The next major goal for the price would be to reach $0.0000015000 and in between major resistance levels would be $0.0000009000.
However, if the PepeFork crypto price fails to stay above the $0.0000004000 level, it could decline further and reach lower fibo levels.
Source: PORK/USDT MEXC.1.H. by TradingView
Summary
As per the fibonacci levels, the price has slipped up to 0.618 fibonacci level from the short term supply level and the overall daily trend seems bullish and price seems to be on an important buying level.
Also, the Pepe Fork crypto has displayed a sign of revival as the price tries to sustain on a critical level of around $0.0000004000.
The Pepe Fork asset is showing bullish strength and rising potential as it approaches major EMAs. This phenomenon on the 1-H chart signifies bullishness.
Therefore, if the demand for the PORK surges, the asset price could bounce back from the current level. The next major goal for the price would be to reach $0.0000015000 after clearing the resistance level at $0.0000009000.
Technical Levels
Support Levels: $0.0000004000
Resistance Levels: $0.0000009000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Ritika Sharma
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
