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The PeiPei price skyrocketed 114% in the last 24 hours to trade at $0.0000001091 as of 10:10 p.m. EST on trading volume that rose 54% to $48 million.
The increase came even as the overall crypto market capitalization plunged 2% to $2.3 trillion. Top meme coins DOGE, SHIB, and PEPE fell 2%, 2%, and 4%, respectively.
PeiPei Price To Sustain Its Surge Over The Falling Wedge Pattern
The PeiPei price, after soaring to its all-time high (ATH) of $0.000000272, has been on a downtrend, trading within the confines of a falling wedge pattern, data from GeckoTerminal shows.
The decline was further supported by the 200-day SMA crossing above the 50-day SMA on the 1-hour chart.
However, the bulls seem to have found support around $0.0000000468, as they push the price of PeiPei above the wedge.
PEIPEI price further trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the general bullish sentiments.
Furthermore, the Relative Strength Index (RSI) is trading up, currently at 70, which is an indication that the asset is highly overbought, a sign of continued investor optimism.
The Moving Average Convergence Divergence (MACD) is also bullish, as the blue MACD line crosses above the orange signal line, which forms a bullish crossover. With the green bars also extending over the neutral line, it shows that the price of PeiPei is on a positive momentum.
PeiPei Price Prediction
According to the Peipei price analysis on the 1-hour chart, the token is set to sustain its surge, as the bulls capitalize on the major indicators, including the MACD and RSI to buy more, with the market showing some bullish prospects.
If the bulls sustain the bullish stance, PEIPEI could soar higher, with investors targeting prices around $0.0000002228.
However, the MACD and RSI show that the token is overbought. This is a signal that the asset is now highly overvalued, which may result in the bulls selling the token, driving it through a distribution phase. In such a scenario, $0.0000000679 (50-day SMA) acts as the next support level.
Even as the PeiPei price soars, some investors are pivoting to the new meme coin Pepe Unchained (PEPU), which has raised $1.3 million in about a week since its launch.
Pepe Unchained – Best PEPE Alternative To Buy Now?
Pepe has delivered mind-blowing returns to early investors and continues to rule the charts, being one of the top three meme coins by market capitalization.
However, Pepe is not without shortcomings. The token was originally built on the Ethereum blockchain and has long been confined by its layer-1 technology, which is handicapped by network delays and rising gas fees.
Enter, Pepe Unchained, which is a PEPE that’s broken free from his chains to embrace the future. That’s why PEPU will run on its own proprietary Ethereum Layer 2 blockchain.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
The project overcomes scalability, speed, and efficiency issues that often plague meme coins built on Layer-1 blockchains like Ethereum.
$PEPU holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 1,504%.
According to 99Bitcoins, a prominent crypto channel on YouTube with more than 700k subscribers, $PEPU is a crypto with 100x potential.
You can buy $PEPU tokens for $0.0081288 each, but with a price hike coming in less than 23 hours you should buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.
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