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The Pepe price plummeted more than 7% over the past 24 hours to trade at $0.00001511 as of 12:40 a.m. EST as investors dump their holdings in the meme coin.
PEPE’s recent correction could be the result of traders realizing their profits from the altcoin’s strong performance throughout the past month. Despite the 24-hour drop, PEPE is still in the green by more than 105% over the past 30 days.
The Pepe Price Loses Crucial Support
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price broke below the key support at $0.00001534 over the past 24 hours. Bulls have since re-entered PEPE’s order books and are now trying to push the meme coin’s price back above this mark.
If the Pepe price is able to reclaim the $0.00001534 support within the next 12 hours, the meme coin could have the technical foundation needed to keep rising. Traders might then enter into a long position, potentially leading to PEPE rising to as high as $0.00001758 in the following couple of days.
On the other hand, a rejection from the $0.00001534 price point could invalidate this bullish thesis. In this alternative scenario, the Pepe price could fall to the immediate support level at $0.00001273. Continued sell pressure should the crypto reach this level might then expose it to the risk of plunging to as low as $0.00000947.
Technicals Suggest The Pepe Price Might Start To Climb Again Soon
Technical indicators on PEPE’s 4-hour chart show that bears have the upper hand against bulls and that PEPE is in a negative cycle. However, this bearish trend might be coming to an end.
The Relative Strength Index (RSI) indicator is at 46. Traders usually see an RSI value below 50 as a sign that sellers are stronger than buyers.
Meanwhile, the Moving Average Convergence Divergence (MACD) line crossed below the MACD Signal line over the last 48 hours to signal that PEPE has entered into a short-term bearish phase.
Traders and investors will want to keep an eye on these technical indicators in the coming 24 hours, because they are both showing early signs of a potential bullish reversal.
Firstly, the RSI value has been gradually increasing, which could signal that buyers are trying to overthrow sellers. What’s more, the positive slope of the RSI suggests that bulls are still accumulating strength.
PEPE might also exit its bearish phase, as the gap between the MACD and MACD Signal line starts to narrow. This could signal that the meme coin’s negative cycle has reached its peak and is approaching its end.
As PEPE tries to find its footing, investors are flocking to the Dogecoin derivative presale Dogeverse (DOGEVERSE) as it approaches its final stages.
The First Multi-Chain Meme Coin
Dogeverse is the first meme coin to be deployed on multiple blockchains, including some of the most liquid and active networks in the web 3 space. These include Solana, Avalanche, Ethereum, BNB Chain, Polygon and even the layer 2 network, Base.
Through DOGEVERSE’s multi-chain presence, investors and token holders can seamlessly shift value across networks. This allows them to grow their crypto through any high-yield generating DeFi protocol regardless of which blockchain the opportunity is on.
Crypto YouTuber Jacob Bury recently shared his take on the meme coin, and said it has the potential to 100x after listing.
A Speculative Opportunity That Rewards Early Investors
Dogeverse’s unmatched cross-chain capabilities and its appeal to the meme coin community have resulted in more than $15 million making its way to the altcoin’s ICO. Another factor that might be pulling investors in is the high yields that can be generated by staking DOGEVERSE.
Investors looking to grow their crypto through DeFi protocols won’t even need to leave the meme coin’s ecosystem because any buyers in its ICO phase gain access to a lucrative staking opportunity on the Ethereum blockchain offering a 45% annual yield.
Investors will want to hurry, however, as the team announced that Dogeverse’s presale will end on Jun. 3.
Get ready to blast off with Cosmo! 🚀🌀
⏳ #Presale ends on June 3rd at 10 AM UTC!
🌐 Claim launches on June 5th at 10 AM UTC!
This is your LAST CHANCE to join Cosmo on his #Blockchain adventures before the official launch! 🌌
Don’t miss out! The clock is ticking! 📣… pic.twitter.com/QwpzWcm947
— DogeVerse (@The_DogeVerse) May 23, 2024
To get in on this opportunity, investors can utilize the simple buy widget embedded on the meme coin’s website. Selling for $0.00031, DOGEVERSE can be bought using either SOL, AVAX, BNB, MATIC, BASE or ETH, given the meme coin’s presence on multiple networks. Alternatively, USDT or bank card can also be used to acquire the token.
It’s important to note that investors looking to lock up their tokens for the 45% APY will need to purchase the crypto using ETH, since the staking contract is on the Ethereum blockchain.
Purchase and stake DOGEVERSE here for up to 45% in annual rewards.
Related Articles:
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- Solana Meme Coin Solama Soars 55% And Sealana ICO Surges Past $3m As All-American Theme Ignites
- Cheems (CHEEMS) Coin Price Surges as Dogeverse Prepares for Token Launch
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