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The Koala AI price soared over 69% in the last 24 hours to trade at $0.000005536 as of 4:18 a.m. EST as investors buy into the meme coin at a rapid pace.
Inspired by Pepe The Frog, Koala AI is a Solana meme coin that offers zero buy/sell taxes, innovative community engagement and a suite of liquidity solutions.
Following the recent gain, the KOKO price is now more than 108% in the green on the weekly time frame.
The Koala AI Price Trying To Flip A Major Technical Barrier
4-hour chart for KOKO/USD (Source: GeckoTerminal)
The Koala AI price recently broke above the major resistance level at $0.000005562 and is now attempting to establish a position above this threshold. Should the meme coin succeed, it could have a strong platform to rise off from. Traders might subsequently push KOKO up to the next resistance at $0.000006326.
The bullish thesis might not play out if the Koala AI price dips back below the recently-breached $0.000005562 mark within the next 8 hours. In this alternative case, the meme coin could be at risk of correcting down to $0.000004875. Continued sell pressure should KOKO reach this key support might then lead to the Koala AI price falling to as low as $0.000004111.
Technicals Suggest The Koala AI Price Is In Overbought Territory
From a technical standpoint, indicators on KOKO’s 4-hour chart warn that the meme coin is currently overbought. This could lead to a pullback in the next 24 hours if traders decide to realize their profits from the recent rally.
One indicator that traders will want to keep an eye on is the Relative Strength Index (RSI) on the 4-hour chart. RSI readings have risen from 63 to the high 80s throughout the past 24 hours. With the current high readings, the market might enter into a sell position for the meme coin since its short-term downside potential is greater than its upside potential.
It might take a few hours for the potential pullback to ensue. The Moving Average Convergence Divergence (MACD) indicator on the 4-hour chart suggests that momentum still favors buyers. Not only is the MACD line positioned bullishly above the MACD Signal line, the gap between the two indicators is also growing. This is usually seen as a sign of increasing positive momentum.
A confirmation that the Koala AI price might undergo a correction could be if the MACD line starts to drop towards the MACD Signal line. Accompanied by the high RSI readings, this could prompt traders to take profit.
As KOKO enters overbought territory, another frog-themed token by the name of Pepe Unchained (PEPU) continues to pull investors in as its presale zooms past the $21 million fundraising milestone.
Bringing A More-Scalable Framework To The Booming Meme Coin Space
Pepe Unchained (PEPU) aims to introduce a higher degree of scalability to the flourishing meme coin sector.
Throughout this year, this lighthearted subset of the crypto market has generated substantial returns for investors. However, the hype around these tokens is placing a computational burden on leading networks such as Ethereum, Solana and the TON chain.
With its layer-2 side chain, Pepe Unchained will help alleviate the pressure meme coins face on legacy layer-1 blockchains by opening its computational resources to the rest of the sector.
Pepe Unchained L2 Sneak Peek!
What we're building is not just a new chain, but an entire ecosystem.
🐸Pepe Unchained L2
🐸Block Explorer
🐸DEX
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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
Meme coins deployed or migrated to the Pepe Unchained network will gain access to a 100-fold increase in transaction speeds. Additionally, investors will be able to send and receive crypto at a fraction of the current cost.
In tandem with the increased speed, Pepe Unchained is poised to boost the overall utility of meme coin tokens following the launch of its developer grant program. Approved developers will soon build meme coin-centric decentralized applications (dApps) on the project’s layer-2 network.
With its layer-2 capabilities, its meme coin appeal and its promise to increase the overall utility of the meme coin space, it’s easy to see why YouTuber Austin Hilton told his 275K subscribers that investors will regret not buying PEPU during its ongoing presale stage.
Investors Bet Big On PEPU’s Future
Investors are bullish on PEPU’s future, and have sent more than $21.2 million to the project’s ICO.
Selling for $0.0112, PEPU can be bought with either ETH, USDT, BNB or bank card. With a price hike coming when sales hit $21,289,141, anyone interested to buy should act now before it’s too late.
Purchase PEPU during its ongoing presale here.
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