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The Pepe price soared more than 11% in the last 24 hours to trade at $0.00001082 as of 11:28 p.m. EST as investors flock to the meme coin.
With the 24-hour surge, the crypto was able to push its weekly performance back into the green. As a result, the PEPE price is now up more than 8% over the past 7 days.
The Pepe Price Trying To Flip The $0.00001102 Resistance Into Support
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price is attempting to break above the resistance level at $0.00001102 after printing a series of higher lows in the last 24 hours on the 4-hour chart. Should the meme coin clear this technical obstacle in the coming 12 hours, PEPE might have a solid foundation to rise from. Traders could subsequently push the altcoin’s price up to $0.00001204 in the short term.
On the other hand, PEPE’s bullish momentum might come to an end if bears are able to defend the $0.00001102 mark. In this alternative scenario, investors could opt to realize their profits. This potential sell pressure might then lead to the Pepe price falling to the immediate support level at $0.00000996. Continued sell pressure could see PEPE fall to $0.00000899.
Technicals Suggest The Pepe Price Is Losing Its Technical Strength
From a technical perspective, it seems the meme coin’s bullish momentum has stalled. The Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators on PEPE’s 4-hour chart show signs that bulls may have eased their pressure on the crypto’s price.
RSI readings have started to level off in the high 60s to suggest that bulls currently have the upper hand against bears. Traders and investors will want to keep an eye on this indicator, because high RSI readings are often seen as a sell signal. Therefore, the recent leveling off of the indicator’s values might be an early warning of an upcoming bearish change in strength.
Meanwhile, the MACD line is bullishly positioned above the MACD Signal line. The gap between these two lines is starting to shrink, however, which could lead to a bearish trend reversal if buyers do not step in soon.
As investors flock to buy PEPE, they are also pumping cash into the layer-2 alternative Pepe Unchained (PEPU) as it heads towards £20 million in funds raised in its presale, one of the most successful of the year.
Bringing High Levels Of Utility To The Meme Coin Space
Pepe Unchained (PEPU) is unlike all of the meme coins that came before it because of its unprecedented levels of utility. Through its native layer-2 network, the project aims to usher the lighthearted subset of the crypto space into a new and more scalable era.
Pepe Unchained’s blockchain will unlock a 100-fold increase in transaction speeds and slash network fees for meme coin’s backers. The project team plans to open its lightning-quick network to the rest of the meme coin space with the aim of becoming the go-to blockchain for meme coin developers.
In addition to this, Pepe Unchained’s developer grant program has also been launched. Developers will soon be able to build decentralized applications (dApps) on the Pepe Unchained network. The team announced recently that its layer-2 testnet has gone live.
With all of these factors taken into consideration, it’s easy to see why experts and analysts are bullish on Pepe Unchained’s native PEPU token.
In a recent video, popular YouTuber Austin Hilton, who boasts over 275K subscribers, revealed that he doubled his initial $10K investment in the new meme coin.
High Staking Rewards Pull Investors In
More than $19.6 million has been sent to Pepe Unchained’s ongoing presale so far, signaling strong investor confidence in the project’s future.
This raise includes several purchases made by crypto whales as well. Apart from PEPU’s speculative potential, unmatched utility and meme coin appeal, there is a 113% annual return on offer to anyone who stakes their PEPU tokens.
Pepe Unchained L2 Sneak Peek!
What we're building is not just a new chain, but an entire ecosystem.
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🐸Builder GrantsPepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
— Pepe Unchained (@pepe_unchained) September 26, 2024
There’s still time for investors to gain access to these rewards. The first step is to acquire the token through the simple buy widget embedded on its website.
Selling for $0.00999, PEPU can be bought with either ETH, USDT, BNB or bank cards.
Buyers who want to lock in the best rate should act fast because PEPU’s price is scheduled to increase with each new stage of its presale. The next price hike is coming in less than 2 days.
Purchase PEPU tokens here before the next price increase.
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