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The Pepe Price plummeted 11% in the past 24 hours to trade at $0.000008923 as of 7:00 p.m. EST.
Some analysts now speculate that a massive pump is coming after it fell to the bottom of its price range.
$PEPE dipping hard to the bottom of the range, the pump will be big once $BTC continues higher.
MY LONG STAYS OPEN pic.twitter.com/VOO4kZUI6L
— Plazma (@Plazma0x) March 16, 2024
Pepe Price Prediction: Pepe Breaks Below Support
Looking at charts, things don’t look so good for Pepe . The Pepe price has broken out of its rising channel pattern, which indicates a reversal or retracement of the trend. Looking at the Moving Average Convergence Divergence (MACD), we notice a bearish crossover, with the MACD line (blue) crossing below the signal line (orange), which signifies that the momentum is shifting toward the downside. The histogram bars are below the zero line and show red, asserting the bearish momentum.
On the flip side, the Relative Strength Index (RSI) is around 41, which is slightly below the mid-point. This suggests that the market is not in an overbought or oversold condition. However, its sharp southern trajectory signifies mounting selling pressure.
4-hour PEPE/USDT Chart | Source: TradingView
However, despite this, there is a lot of interest in PEPE as we recently saw its trading volume come close to a $2.5 billion high. This comes as whales who bought PEPE cash out, as seen in the last couple of days.
This guy spent only $3,000 to buy 4.9T $PEPE($35.5M currently) in the early time!
He sold 760B $PEPE($2M) and currently holds 4.15T $PEPE($30.8M), and is the 13th holder of $PEPE!
His total profit on $PEPE is ~$32.8M, a gain of 11,077x!https://t.co/QTL7oxruTk pic.twitter.com/sw2FcPfgdd
— Lookonchain (@lookonchain) March 4, 2024
Despite this, experts still say the market is optimistic and will probably recover shortly. A combination of factors, including growing interest in Bitcoin ETFs, talk of Ethereum ETFs, and the impending Bitcoin halving, has improved the overall market outlook.
24 hour market update – $PEPE
TL;DR – $BTC weakness has caused an asset class wide dip. $PEPE made a new ATH with record high funding rates which have now re-set to a level which is low in the context of its pump (bullish).
Points to be aware of;
– $PEPE price has been leading… pic.twitter.com/dFFhYx5mmg
— Exponential Research (@ExpoResearch) March 15, 2024
While Pepe’s price follows the general trend of meme coins being dumped, Sponge V2 is attracting attention because of rumors it is about to list on multiple top-tier exchanges.
Sponge V2 is the successor to Sponge, which exploded 100X on launch last year in a bear market, and its development team aims to improve on that this time around.
It’s one of the top five meme coins you can buy right now, according to YouTuber Jacob Bury.
Exciting New Alternative
Last month, Sponge V2 announced the retirement of its predecessor, Sponge V1. The new project moved to Polygon after a hostile attack on its liquidity pool.
📣 Attention, #SPONGERS!
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
The project’s thrilling sequel brings a new staking mechanism, a Play-to-Earn (P2E) game, and a large marketing budget, all of which are contributing to the project’s resurgence.
WE SMELL DAMP 💦$SPONGE #SpongeV2 #Crypto #Alts #PEPE #Binance #KuCoin #DOGE pic.twitter.com/EQfPCuWHvi
— $SPONGE (@spongeoneth) February 14, 2024
With more than 9.2 billion tokens staked, token holders are enjoying annual percentage yields (APY) as high as 431%. Partly because of that, experts have named it as one of the five best cryptocurrencies to buy right now.
Sponge V2 has also debuted a new P2E racer game to boost community involvement. It involves players battling it out for the chance to win $SPONGEV2 tokens.
Visit the website here to join the the SPONGEV2 presale.
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