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The Pepe price plunged 6% in the last 24 hours to trade at $0.000007205 as of 00:36 a.m. EST on trading volume that soared 36% to $748 million.
The PEPE price plummeted as the broader meme coin market’s market capitalization shed 3% to $41 billion.
Pepe Price Set For A Bullish Trend Reversal
The Pepe price recently capitalized on the inverse head-and-shoulders pattern to soar to the $0.0000080 resistance zone, according to data from GeckoTerminal.
However, the bears have recently taken control of the price, with the asset now on a downward trend but within the $0.00000720, which coincides with the two shoulders of the inverse head-and-shoulders pattern.
The downtrend from the resistance has pushed the price of Pepe coin to trade below both the 50-day and 200-day Simple Moving Averages (SMAs).
Moreover, the Relative Strength Index (RSI) is also falling below the neutral line, currently at 36, showing that PEPE is under intense selling pressure and is now undervalued.
With PEPE now undervalued, it may be a buying signal for the bulls, as they aim for a bullish trend reversal to push the price of Pepe back to the $0.0000080 resistance level.
Conversely, if the Pepe price continues to drop, the $0.0000065 provides the bulls with a cushion against downward pressure.
Meanwhile, investors are rapidly accumulating a new Pepe alternative called Pepe Unchained (PEPU), which has crossed the $13.4 million mark in funds raised in its blockbuster presale, among the most successful of the year.
According to 99Bitcoin, a prominent crypto channel on YouTube with over 706K subscribers, PEPU is a gem that has the potential to soar 100X after its launch.
Pepe Unchained Presale Blasts Past $13.4 Million
Pepe Unchained stands out from other meme coins by introducing its native Layer 2 chain on top of Ethereum’s network. This move not only liberates it from Ethereum’s limitations but also brings unprecedented speed, scalability, and significantly lower fees.
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
Token holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 153%.
You can buy $PEPU tokens currently for $0.0097284 each. With a price hike coming in slightly more than a day, buy soon to lock in the best deal.
Buy $PEPU from the official website here using ETH, USDT, or a bank card.
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