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The PepeCoin price plunged 8% in the last 24 hours to trade at $3.175 as of 03:19 a.m. EST on trading volume that dropped almost 2% to $4 million.
The drop made PEPECOIN the top loser among the biggest meme coins by market capitalization, ahead of Turbo, which suffered a 6% slump, according to CoinMarketCap.
PepeCoin Price On A Bearish Trend
The PepeCoin price picked up momentum in mid-September, soaring from the $2.3 support to the $3.5 resistance, according to GeckoTerminal. PEPECOIN then formed a double-top pattern within this resistance, signalling the possibility of an incoming downward trend.
The PepeCoin price has now breached the previous support level at $3.4 (50-day Simple Moving Average (SMA)) but trades above the 200-day SMA, which now acts as the next support zone.
Furthermore, the Relative Strength Index (RSI) is plunging further towards the 30-oversold region, currently at 33, showing that the token is under intense selling pressure.
The presence of the Fair Value Gap (FVG) also indicates that the price of PepeCoin may plunge even further.
If the bears take control of the major indicators, the FVG places the next support zone around the $2.6 support zone.
Meanwhile, the RSI plunging further down may indicate that the asset will soon become undervalued, which could be used as a buying signal for the bulls. In this scenario, the price of PepeCoin may soar above the $3.2 resistance to target $3.67.
Meanwhile, investors are rushing to buy the new badass Pepe alternative, Pepe Unchained (PEPU). YouTube channel 99Bitcoins, with over 706K subscribers, says it has the potential to soar 10X after launch.
Pepe Unchained Raises Over $16.5 Million—Best Meme Coin To Buy Now?
As its name suggests, Pepe Unchained aims to set Pepe free from his old, clunky, Layer-1 server room. It does so via its proprietary Ethereum Layer 2 blockchain.
Pepe is constrained by its Layer 1’s limitations and it can be expensive and slow to purchase. Pepe Unchained solves those issues with speeds as much as 100x faster and with much lower costs.
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 130%.
You can buy $PEPU tokens for $0.00989 each right now. With a price hike coming in a little more than a day, 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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