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The Pepe price has plunged 8.4% in the past 24 hours to trade at $0.000007029 as of 3:20 a.m. EST on a 23% drop in trading volume to $517 million.
Pepe Price Consolidates Into A Bullish Pennant
PEPEUSDT Analysis by Tradingview
The current price of Pepe is below its all-time high of $0.00001064, but there are some positive signs suggesting a rebound within a bullish pennant pattern. This pattern indicates that the bullish trend for Pepe may continue.
Despite a small retreat, the lower trendline of the pennant allows the bulls to gather themselves and push the price higher, potentially breaking out above the pennant.
Moreover, the support coincides with the 50-day simple moving average (SMA), while the price maintains momentum above the 200-day SMA. This indicates a potential beginning of a bull rally as buyers get more involved.
The Macd shows signs of a rebound below the neutral level, with the blue line crossing the orange signal line. Furthermore, the histogram shows positivity near the neutral level.
The relative strength index (RSI) signals a reversal from the midline level of 50. With increased momentum, the RSI is expected to rise to the overbought level, indicating intense buying pressure.
Pepe Price Bulls Gear Up For A Bullish Momentum
The bullish pennant indicates that the upward trend may persist, potentially driving the price even higher. If the price keeps rebounding from the lower trendline of the pennant, it could help buyers overcome the resistance level at the previous all-time high of $0.00001064, aiming to reach a new peak at $0.00001525.
However, if sellers gain control, the price might fall below the lower boundary of the pennant, dropping to around $0.00000661. This could prompt buyers to retreat towards the support zone at approximately $0.00000450.
SPONGEV2: Best Meme Coin To Buy Today For 100X Returns
As traders gear up for a bull rally for Pepe, many are also diversifying into SPongeV2 as it gears up to list on major tier-one exchanges.
GM #SPONGERS! 🧽🧽🧽
Did someone say moon? 🚀
Trade $SPONGE on @dexscreener 👇https://t.co/mRRzvNqdpm#MemeCoin #Crypto #Altcoins #Bullish #100x pic.twitter.com/iVOCDTYMVz
— $SPONGE (@spongeoneth) March 8, 2024
SpongeV2 is the successor of Sponge V1, which back in May 2023 soared 100X during a bear market to reach a market cap of $100 million.
You still have a chance with #SpongeV2… don't miss out again 💦$SPONGE #MemeCoin #Bullish pic.twitter.com/HuKpH3JTFI
— $SPONGE (@spongeoneth) March 19, 2024
Sponge V2 is an upgrade on its predecessor that offers improved features and more value for token holders. One standout feature is the staking option, which gives holders an impressive annual percentage yield (APY) of 166% on Ethereum and 362% on the Polygon network.
Don't get left behind…again 🧽💦#Sponge #SpongeV2 #MemeCoin pic.twitter.com/moe6mphwPi
— $SPONGE (@spongeoneth) March 17, 2024
In addition to securing listings on top-tier exchanges, the platform intends to release a play-to-earn racer game available in both paid and free versions. In the paid version, SPONGE will act as in-game credits, and rewards will also be distributed in the meme coin.
YouTuber Crypto Boy says SpongeV2 has the potential to explode 100X on launch.
Buy the token on the project’s official website here. You can use ETH, MATIC, USDT, or a bank card.
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