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The Pepe 2.0 price has surged 20% in the last 24 hours to trade at $0.00000002386 as of 8:30 a.m. EST.
Pepe 2.0 Price Prediction: Technical Analysis
Looking at the 1-hour PEPE2.0/USDT charts, we see that the 50-period Simple Moving Average (SMA) and the 200-period SMA indicate possible corrections, with the shorter 50-period SMA moving below the 200-period SMA, forming a death cross.
The Relative Strength Index (RSI) is around 62, slightly above the midpoint of 50 but below the overbought threshold of 70. This suggests a moderate bullish momentum. However, the meme coin could be approaching overbought conditions, which might lead to a potential pullback or consolidation.
The Moving Average Convergence Divergence (MACD) line (Blue line) is above the signal line (Orange line), while the histograms move above the baseline. This shows bull action on the meme coin. However, the histogram bars are decreasing in height, adding weight to the prospects of a correction in the short term.
Looking at trends based on other indicators, the Awesome Oscillator (AO) shows green bars, indicating an overall bullish trend on the asset. A notable uptick in volume accompanies the recent price surge, which could indicate a strong buying interest. Pepe 2.0’s trading volume surged over 200% in the last 24 hours.
The chart also shows previous price consolidation around the 0.000000021167 level, which may act as a support, while the recent highs could serve as a resistance level.
1-hour PEPE 2.0 chart | Source: TradingView
Meanwhile, as the Pepe 2.0 price pumps, Sponge V2 is emerging as another compelling meme coin alternative, with the project ranking among 2024’s top presales.
Pepe 2.0 Price: Is Sponge V2 A Better Alternative?
Sponge V2, which brings exciting new gaming applications, is the successor to Sponge V1, a meme coin boasting a remarkable 100x return last year. To secure the SPONGE V2 coin, one has to stake the preceding V1 token.
Investors can find the bridging feature for acquiring Sponge V2 tokens on the Sponge website.
💸🛌 Earn passive #SPONGEV2 rewards just by staking your $SPONGE!
Enjoy over 40% APY and watch your holdings grow.
It's never been easier! 🧽💦🙌 #CryptoStaking #MemeCoin #Alts pic.twitter.com/N0z2n4W9is
— $SPONGE (@spongeoneth) January 10, 2024
Justin Sun Bought Sponge
Last year, news spread that Tron found Justin Sun had purchased Sponge, sparking more interest in the project. That holding is now worth in the region of $100k.
Sun said in May last year that he wants to buy appealing meme coin projects.
I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
Jacob Crypto Bury, a prominent figure with 26K YouTube subscribers, anticipates a potential 30x increase on launch. The token also ranks among the top meme coins for exponential gains.
Sponge V1 ($SPONGE) also is having a strong day, surging 23% to trade at $0.0009693 as of 9:38 a.m. EST. And it’s skyrocketed 1,185% in the past year.
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