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The PeiPei price has soared 32% in the last 24 hours to trade at $0.0000001714 as of 7:05 a.m. EST on an 894% explosion in trading volume to $84 million.
PeiPei Price Spikes In A Bullish Rally
The PEPEI/USD pair on a 4-hour timeframe shows a recent transition from a consolidation stage to a sharp upward movement marked by a parabolic curve, indicating a strong bullish momentum.
The PeiPei price, currently around 0.00001701, has broken above both the 50-period and 200-period simple moving averages (SMAs), which are key indicators of potential trend reversal from bearish to bullish.
PEIPEIUSD Analysis Source: Dextools.io
The 50-SMA, now acting as potential support, could stabilize the price in case of a pullback, while the 200-SMA still trends downwards, indicating a long-term trend has been bearish until this breakout.
PeiPei Price MACD Confirms Bullish Sentiment
The Moving Average Convergence Divergence (MACD) indicator confirms the strong bullish sentiment, with the MACD line significantly above the signal line and rising histogram bars, enhancing the bullish outlook.
However, the Relative Strength Index (RSI) at 72.48 points to overbought conditions, which indicates a cautionary approach as the PEIPEI price might be overextended and could face a retracement or consolidation in the short term for the Peipei price.
Support levels to watch include the recent low of 0.000016 and the rising 50-SMA, while the next key resistance lies around 0.000018, where the price could encounter selling pressure. While the current momentum is bullish, the overbought RSI warns of potential volatility ahead.
PEPU Roars Past $14 Million: Next Crypto To Explode?
As the PeiPei price continues its bullish rally, the new Layer 2 meme coin Pepe Unchained (PEPU) has passed $14 million in early funding.
Crypto Gains, an analyst and YouTuber with over 136k subscribers, notes that there are even whales investing in the PEPU token.
As the first Pepe token to operate on its proprietary Layer-2 blockchain, Pepe Unchained offers advantages that include seamless bridging with Ethereum for easy integration with decentralized applications (dApps), smooth transfers, and minimal transaction costs.
This Layer-2 solution also aims to become a leading platform for meme coin trading. By leveraging the Ethereum Virtual Machine (EVM), developers have the opportunity to create a wide array of applications on the Pepe Chain.
The project team has announced a developer grant on X, aiming to expand its ecosystem. Through this grant initiative, named “Pepe Frens With Benefits,” Pepe Unchained is encouraging developers to create innovative dApps and other projects utilizing its new Layer-2 solution.
Pepe's blockchain is charging up!
Get ready as we prepare to unleash something big ⚡️🐸 pic.twitter.com/RKQIgbRmxV
— Pepe Unchained (@pepe_unchained) September 16, 2024
To participate, developers can create their projects, submit a grant application, and wait for a vote from the Pepe council. If their application is approved, they will receive funding.
Investors can also stake PEPU tokens for an annual percentage yield (APY) of 147%.
You can purchase $PEPU tokens now for $0.00982. With a price increase scheduled in less than 2 days, buying now will secure the best price.
Buy PEPU tokens on the official website here using ETH, USDT, or a bank card.
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