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The SPX6900 price has risen over 5,561% in the last month following a 34% pump in the last 24 hours to trade at $0.5204 as of 7:42 a.m. EST.
With the strong performance by the SPX price in the past month, the crypto is now ranked as the 12th biggest meme coin by market cap at $477.3 million.
The SPX6900 Price Approaching Resistance
4-hour chart for SPX/USD (Source: GeckoTerminal)
The SPX6900 price has consistently printed higher highs and higher lows on the 4-hour chart throughout the past 48 hours, leading to the formation of an ascending price channel. Should this bullish trend continue, the altcoin could soon flip the resistance level at $0.5387 into support. Overcoming this level might then clear the room needed for SPX to keep climbing.
However, sellers could bring an end to the crypto’s climb if they are able to keep the SPX6900 price below the $0.5587 barrier for the next 16 hours. In this more bearish case, SPX might test the immediate support level at $0.4519 before potentially falling to $0.3515. Continued sell pressure could even lead to the crypto’s price plunging to as low as $0.2694 in the short term.
SPX6900 Price Showing A Lot Of Technical Strength
In addition to the positive price channel, there are some technical signs that suggest the SPX6900 price might keep climbing through the course of the next trading day. Buyers seem to be a lot stronger than sellers, as signaled by the high Relative Strength Index (RSI) readings in the mid 70s. The RSI’s positive slope also suggests bulls are still accumulating strength,
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator points to a continued increase in SPX’s price as well. Not only is the MACD line bullishly positioned above the MACD Signal line, the gap between the two technical indicators is also growing. Traders generally see this as a sign that a crypto’s positive momentum is intensifying.
While SPX shows a lot of technical strength, investors continue to flock to the layer-2 rival Pepe Unchained (PEPU) for potential parabolic gains.
The Next Sensation To Enter The Meme Coin Space
Pepe Unchained (PEPU) is unlike any project that has come before it given its mission to scale the booming meme coin sector.
It’s the first PEPE alternative to come with its own blockchain, and because it’s lightning-quick Pepe Unchained will unlock a 100-fold increase in transaction speeds for both it and new meme coins launched on the network.
In addition to the much faster speeds, meme coin backers will also be able to send and receive crypto at a fraction of what it costs now.
Initially, the project will set its sights on the popular PEPE token, which has climbed the crypto ranks to become one of the largest meme coins by market cap.
Once the project’s mainnet is deployed, fans of the frog-themed token will unlock an enhanced transactional experience. This improved experience will be accessible through Pepe Unchained’s native PEPU token.
Not only will Pepe Unchained provide the meme coin space with a more scalable framework, the project will also introduce unprecedented levels of utility into the lighthearted sector of the digital asset realm.
The team recently launched their developer grant initiative for decentralized application (dApp) developers. Exciting projects and use cases are set to make their way into the Pepe Unchained ecosystem as a result.
With its layer-2 capabilities, its meme coin appeal and the upcoming dApps that will enter its ecosystem, it’s easy to see why analysts and experts are bullish on Pepe Unchained.
One such expert is an analyst from the 99Bitcoins YouTube channel. In a video to the channel’s 706K subscribers, the analyst said that the meme coin has the potential to soar 10X.
Investors Stocking Up On PEPU During Its Presale Stage
Investors have already bought more than $18 million worth of PEPU during its ongoing ICO, signaling strong confidence in the project’s future at this early stage.
Apart from the bullish predictions by experts and PEPU’s speculative potential, there is also a 121% APY on offer that might be adding to the investor frenzy around the project.
WOAH!
$18M raised! Pepe Unchained is FLYING. Big things on the horizon. pic.twitter.com/U1C41xkuqD
— Pepe Unchained (@pepe_unchained) October 8, 2024
To unlock access to these rewards, investors will first need to purchase PEPU through the widget on its website using either ETH, USDT, BNB or bank card.
Once purchased, the meme coin can then be locked up through the staking page on the website for investors to start earning the passive rewards.
Potential buyers who want to lock in the best rate will want to act fast because PEPU’s price is scheduled to increase with each new stage of its ICO. The next price hike will happen in less than 2 days.
Purchase and stake PEPU here for the 121% APY before its price increases.
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