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The Department of Government Efficiency price soared 19% in the last 24 hours to trade at $0.2746 as of 02:48 a.m. EST on trading volume that plunged 26% to $24 million.
Department Of Government Efficiency Price Gearing Up For A Bullish Trend Reversal
The Department of Government Efficiency price experienced a strong bullish rally from the beginning of November to mid-November, as shown by the significant upward price movement (highlighted by the green arrow). However, it has since entered a retracement phase, characterized by lower highs and lower lows, forming a falling wedge pattern, shows GeckoTerminal.
The price of Department of Government Efficiency appears to be attempting a breakout from the descending channel, which could indicate the start of another upward move.
DOGE has now crossed below the 50 Simple Moving Average (SMA) on the 4-hour chart, coinciding with the downtrend. However, the Department of Government Efficiency price still trades well above the 200 SMA, supporting the bullish sentiment in the long term.
The Relative Strength Index (RSI) is currently at 51.15, which is a neutral level after it recovered from oversold conditions during the recent retracement and now sits in the middle range. This suggests that momentum is neither overbought nor oversold, and there is room for further upside if buying pressure continues.
The MACD line (blue) is crossing above the signal line (orange) following a bullish crossover. This is a potential indication of a reversal to the upside. The histogram is also beginning to turn positive, suggesting weakening bearish momentum.
If the breakout happens, the price of Department of Government Efficiency could surge to the next possible resistance level at $0.50.
However, in case the bears take over, the 200 SMA ($0.13) could act as the next possible support.
As the Floki bulls aim for a continued surge, other investors are buying a new meme coin, Pepe Unchained (PEPU), which 99Bitcoins, a crypto channel on YouTube with over 706K subscribers, says could surge 100X when it launches in just 22 days.
Pepe Unchained Presale Garners Over $40 Million Mark – Presale Ends In 22 Days
Pepe was originally built on the Ethereum blockchain and has long been confined by its layer-1 technology, which is highly characterized by network delays and rising gas fees.
Pepe Unchained — Groundbreaking Layer 2 Blockchain technology.
Welcome to the future of meme coins. 🐸 pic.twitter.com/iC9b6YSynT
— Pepe Unchained (@pepe_unchained) September 6, 2024
Pepe Unchained is a token based on PEPE devising a plan to break free from his chains and embrace the future with Pepe Unchained. The project is also set to tackle the scalability, speed, and efficiency issues that often plague meme coins built on layer-1 blockchains like Ethereum.
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
🐸Bridge
🐸Advanced Analytics
🐸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
Investors continue to buy more PEPU, with the presale now garnering over $40 million in early funding. The presale is particularly appealing as investors can stake their tokens immediately, with projected annual yields of around 71%.
The presale now features a countdown timer as well, and there are only 22 days remaining before the project’s listings on tier-1 exchanges. Could PEPU be the next meme coin to explode after potential listings on major exchanges like Coinbase or Binance?
You can buy PEPU tokens for $0.01295 each before the presale ends. To join the presale, buy PEPU from its official website using ETH, USDT, or a bank card.
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