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The Pepe price skyrocketed 30% in the last 24 hours to trade at $0.00001097 as of 9:42 p.m. EST as investors rush to buy the crypto.
The surge in the PEPE price comes as the entire meme coin sector pumps over 13% in the last 24 hours to a market capitalization above $61.81 billion, according to CoinMarketCap.
Pepe Price Clears Two Major Resistance Levels, Eyes Another
Daily chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price broke above the resistance levels at $0.00000887 and $0.00001036 in the last 24 hours, data from GeckoTerminal shows. Now, the meme coin is eyeing the next major barrier at $0.00001196. Should the crypto overcome this obstacle, the Pepe price could continue to rise in the short term.
However, a rejection from the $0.00001196 mark might lead to a more bearish scenario playing out in the next few days. In this alternative case, traders could look to realize their profits from the latest rally. As such, some downward pressure on the Pepe price might force the meme coin below the $0.00001036 level.
Continued sell pressure could even push PEPE back below the $0.00000887 mark. An extremely bearish case might result in a plunge to as low as $0.00000759. However, this would require a drastic change in the market.
Bulls Still Maintain Control Of The Pepe Price As The Crypto Becomes Overbought
From a technical standpoint, buyers seem to maintain the upper hand on the altcoin’s daily chart. The Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) show bulls are still in control.
In the last 48 hours, the MACD line crossed above the MACD Signal line. This technical event is often regarded as a confirmation that a crypto has entered a positive trend. Additionally, the gap between the two technical indicators has grown since they intersected, signaling growing bullish momentum that might drive the Pepe price up higher in the short term.
RSI readings have soared from around 50 to the mid 70s in the last 24 hours as well. The latest reading suggests a lot of buying power, but also warns that PEPE is overbought.
A high RSI value is often regarded as a sell signal because it suggests a crypto’s downside potential is greater than its upside potential. Traders will want to keep an eye on the RSI as it starts to slope downward. This might just be a brief pullback in the RSI, or it could be an early indication of a bearish shift in power and subsequent correction for the Pepe price.
As the Pepe price looks to extend its rally, investors also flock to the presale for MIND of Pepe (MIND) before the crypto launches in 22 days. According to prominent YouTube channel 99Bitcoins, with over 725K subscribers, MIND could soar 10X after its launch.
The First AI Derivative Of A Major Meme Coin Brand
PEPE has climbed the crypto ranks to become the third largest meme coin by market cap, but new rival MIND is poised to overtake the frog token leader due to its much higher levels of utility. Not only will MIND ride off of the hype around Pepe, it will also combine the merging AI agent crypto sector with the flourishing meme coin sector in one coin.
Central to the project is a cutting-edge AI agent that can spot new trends in the crypto market early. To do this, the AI monitors chatter online in real-time through connections to platforms such as X, Discord and others. After identifying a new trend, it shares its insights with MIND holders through token-gated groups, giving the meme coin’s backers a competitive edge.
In addition to analyzing the market for new trends, the MIND of Pepe AI can also influence the market narrative by autonomously engaging with influencers and other Web3 community members online.
Its capabilities don’t stop there, as the MIND of Pepe AI agent can even launch its own tokens that align with each new trend it identifies. It then hypes its own tokens up online, trades them, and reinvests any profits back into MIND. Before it does any of this, it gives MIND holders the chance to buy in early, setting them up for potential parabolic gains if the tokens take off.
The team recently announced that the AI agent will go live on X on May 10.
Investors Rush To Buy MIND In Presale
Time is running out for investors to join the MIND ICO, which has raised over $8.8 million.
Interested investors can buy MIND for $0.0037515 apiece via the widget on its website using either ETH, USDT, BNB, USDC or bank card.
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