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The Pepe price tumbled 2% in the last 24 hours and 16% in a week to trade at $0.000009297 as of 01:02 a.m. EST on trading volume that plunged 40% to $675 million.
This comes despite the meme coin market gaining 2% to a $43 billion market capitalization over the past day, with top meme coins DOGE and SHIB each climbing 2%.
Pepe Price Set To Soar, Bulls Capitalize On The Double Bottom
The Pepe price dropped in July, retracing from the $0.0000117 resistance zone, according to data from GeckoTerminal. The price of Pepe movements at the $0.000007409 support level has formed a double bottom pattern, as the bulls aim to capitalize on it to stage a possible bullish reversal.
PEPE trades slightly above the 50-day Simple Moving Average (SMA), which supports the short-term price surge. If the bulls stage a bullish trend reversal, PEPE could surpass the 200-day SMA, which works as the immediate resistance zone at $0.000009543.
Moreover, the Relative Strength Index (RSI) is trading up at 59, as it hurtles towards the 70-overbought region, which is an indication that buyers are actively purchasing the token.
The Moving Average Convergence Divergence (MACD) is also bullish, with the blue MACD line crossing above the orange signal line, indicating a bullish crossover. A bullish crossover could further encourage the bulls to buy, which could further push the token up.
The green bars on the histogram are also beginning to form over the neutral line, which is an indication that the price of Pepe is gearing up towards a positive momentum to the upside.
Pepe Price Prediction
The Pepe price analysis on the 1-hour chart shows that PEPE is set for a bullish trend reversal, as the bulls capitalize on the double bottom pattern, with the target set at $0.000012.
Major indicators, including the RSI and MACD, show that the buyers are adding to their positions, which could push the token up toward its target.
However, in an inverse scenario, with the death cross at $0.00001178, the bears could still exert some pressure. In this case, the price of Pepe could retrace further to the $0.00000777 support, which provides the token with a cushion against downward pressure.
As the Pepe price prepares for a possible rally, PEPE lovers are also buying into a new upgrade of the meme coin that’s called Pepe Unchained (PEPU). It has already raised over $3 million in early funding.
99Bitcoins, a prominent crypto channel on YouTube, says $PEPU is one of the best cryptos to buy now with 100x potential.
Pepe Unchained Raises Over $3 Million – Best Alternative To Buy Now?
Pepe Unchained aims to emulate the success of its predecessor, PEPE, which has delivered mind-blowing returns to early investors to become the third-biggest meme coin by market capitalization.
Pepe Unchained sets Pepe free from his old, clunky Layer-1 server room and thus runs on its own proprietary Ethereum Layer 2 blockchain.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
In this way Pepe Unchained tackles the scalability, speed, and efficiency issues that often plague meme coins built on the Ethereum Layer-1 blockchain.
Token holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 627%.
You can buy $PEPU tokens for $0.0083591 each. With a price hike coming in less than two days, buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.
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