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The First Convicted RACCON price went ballistic and soared over 229% in the last 24 hours to trade at $0.07345 as of 7:27 a.m. EST as investors FOMO buy into the meme coin.
The surge in the FRED price comes after Chemung County official Chris Moss revealed that a rabies test performed on a seized squirrel called Peanut was negative.
Cute squirrel Peanut went viral on social media after being seized by Chemung officials along with a racoon by the name of Fred.
First Convicted RACCON Price At A Critical Juncture
4-hour chart for FRED/USD (Source: GeckoTerminal)
The First Convicted RACCON price is challenging the resistance level at $0.06729. In the last few hours, it was able to briefly overcome this major technical barrier. However, traders quickly realized their profits, causing the meme coin to drop to just above this threshold.
If the First Convicted RACCON price manages to close a 4-hour candle above $0.06729 within the next 8 hours, it could have the necessary platform to rise from and attempt to flip the next resistance level at $0.09880. A break above this point might then lead to a continued rise in the meme coin’s price in the short term.
However, the First Convicted RACCON price failing to establish a position above $0.06729 in the next couple of hours might bring an end to the meme coin’s positive momentum. Sellers could then enter the crypto’s charts in this alternative scenario, which might force the First Convicted RACCON price down to the immediate support at $0.03731.
In an extreme bearish scenario, the First Convicted RACCON price could stand the risk of dropping to as low as $0.01502.
Bulls Are Still In Control Of The First Convicted RACCON Price
From a technical perspective, buyers seem to still be in control on FRED’s 4-hour chart. Momentum indicators such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) both show positive signs.
RSI readings have spiked in the last few hours, with the latest reading at 89. Although this high reading indicates that FRED is in overbought territory and might undergo a correction, the positive slope of the RSI line suggests the First Convicted RACCON price could keep climbing in the next few hours.
FRED’s bullish momentum also seems to be picking up steam, as suggested by the growing gap between the MACD and MACD Signal lines, with the former positioned above the latter.
As technical indicators on FRED’s 4-hour chart still flash bullish, layer 2 meme coin rival Pepe Unchained (PEPU) is pulling investors in at a rapid pace and has now soared past $28 million in funds raised in its presale.
A New And Improved PEPE About To Take The Crypto Market By Storm
The popular frog-themed token PEPE has climbed the crypto ranks to become the third largest meme coin by market cap. However, the slow transaction speeds and high fees of the congested Ethereum network present a massive hurdle for the meme coin’s continued growth.
Pepe Unchained (PEPU) aims to take control of the PEPE brand and elevate the meme coin’s market standing. To achieve this, the project has launched its own layer-2 side chain. Through this native network, PEPU will be 100 times faster than its predecessor and enable investors to send and receive crypto at a fraction of the cost.
In addition to its lightning-fast network, Pepe Unchained will also serve as a platform for the next generation of decentralized applications (dApps). This comes after the project’s team recently announced the launch of its developer grant program, which will give approved developers the financial backing needed to build the next big app in the crypto space on the Pepe Unchained network.
The project also intends on competing directly with the popular meme coin token launchpad, Pump.fun, which has enjoyed a substantial market share in recent months. Through a token launchpad of its own, Pepe Unchained will unlock an unprecedented level of utility in the booming meme coin space.
With its unmatched levels of utility, it’s easy to see why several crypto experts and analysts are bullish on PEPU. One such expert is YouTuber Austin Hilton, who told his over 276K subscribers that PEPU will be huge when it launches.
Investors FOMO Buy PEPU Before It’s Too Late
Crypto investors have been rushing to buy PEPU during its ongoing presale stage, with more than $28.1 million sent to the project’s ICO so far. Whales have also entered the mix, and scooped up substantial amounts of the young meme coin.
🐸HUGE ANNOUNCEMENT!🐸
In exactly 30 days, I repeat 30 DAYS! The presale for Pepe Unchained ends.
This is your LAST CHANCE to grab $PEPU before it hits Major exchanges!
Buy $PEPU in presale here: https://t.co/onpYoXlnyG pic.twitter.com/UtM95mrAvM
— Pepe Unchained (@pepe_unchained) November 13, 2024
The team recently revealed that there are just 30 days left until PEPU will be listed on multiple tier 1 exchanges.
With news that PEPE is listing on Coinbase and Robinhood sending it soaring 42% today, and the team indicating that PEPU will also list on top tier exchanges, the stars are aligning for an explosive debut for PEPU in less than a month.
Anyone that wants to buy into the meme coin before its launch can make use of the simple buy widget embedded on the project’s website and purchase PEPU with either ETH, USDT or bank card.
Purchase PEPU before its exchange listings here.
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