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The Luigi Mangione price soared more than 35,000% in the last 24 hours to trade at $0.03153 as of 02:21 a.m. EST on trading volume that jumped to $174 million.
The LUIGI token is named after Luigi Mangione, who was charged in last week’s shooting of UnitedHealthcare CEO Brian Thompson. Mangione was identified earlier as a person of interest and has been arrested on firearms and other charges in Pennsylvania.
Luigi Mangione Price Aims For A Bullish Trend Reversal
According to the LUIGI/USD chart analysis, the Luigi Mangione price experienced a strong bullish trend after its launch, marked by a steep green upward arrow, suggesting significant buying momentum. This upward move saw increasing volume, supporting the price surge.
After hitting a peak (near $0.057), the price entered a falling wedge, which is indicative of a cooling-off period or a potential reversal, according to data from GeckoTerminal.
The price of Luigi Mangione is trading below the 25-day Simple Moving Average (SMA) ($0.03525), which suggests the short-term momentum is bearish. However, the proximity of the price to this level implies a lack of strong selling pressure. A break above the SMA could signal renewed upward momentum.
The Relative Strength Index (RSI) is at 49.87, which is near the neutral 50 level. This suggests the market is currently in a balance between buyers and sellers, with neither overbought nor oversold conditions.
If the price breaks above the descending channel’s upper trendline (yellow), supported by increased volume and RSI moving above 50, a bullish breakout toward $0.045-$0.05 could occur.
Alternatively, if the Luigi Mangione price fails to reclaim the 25-day SMA and breaks below the $0.03 support level, the next target would likely be around $0.025, where the price could find stronger support.
As the LUIGI price aims for an incoming rally, investors are also buying up a new Pepe alternative called Wall Street Pepe (WEPE), which Cryptonews, a popular crypto channel with over 13K subscribers, says could be the next massive degen play.
Wall Street Pepe Presale Blasts Past $3.7 Million In 1 Week
Wall Street Pepe (WEPE) is the meme coin created by a character who is tired of whale groups dominating the crypto markets.
By building a powerful WEPE army, he’s ready to make waves in the market. With exclusive trading tips and insider calls, Wall Street Pepe is setting up his squadron of retail traders to dominate the game—and the market will never see it coming.
Kicking off its presale just a week ago, WEPE has already raised over $3.7million, cementing its place as one of the hottest meme coin presales in the market.
I can only show you $WEPE. You’re the one that has to buy a bag. 🐸 ⚔️ pic.twitter.com/trbEBRbPpC
— Wall Street Pepe (@WEPEToken) December 8, 2024
The WEPE Token also offers a passive income opportunity through its staking feature, which offers a dazzling 154% annual percentage yield (APY).
You can buy WEPE Token from the official website for $0.000207 using ETH, USDT, or a bank card.
Buy before a price increase in about 3 days to lock in the best deal.
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