Pepe Coin Continues to Slide Despite the Ripple Ruling. Can the Frog Bounce Back?

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Pepe Coin (PEPE) has slumped 16% since a high on July 14 and it topped DEXTools’ Hot Pairs List for a while in the past 24 hours before falling back again. Can it bounce back?

Pepe Price Analysis

In the four-hour chart for the PEPE/USD trading pair, the presence of a double-top pattern suggests a potential continuation of the bearish trend. The meme coin encountered significant resistance at the $0.0000018 level for the second time. Should the price breach and close below the neckline, it could lead to a substantial increase in bearish momentum. Such an outcome would potentially push the price toward the $0.00000093 level.

Various technical indicators further support this bearish outlook. The EMA Cross, wherein the higher EMA remains positioned above the lower EMA, indicates prevailing selling pressure in the market. The Moving Average Convergence Divergence (MACD) histograms display negative values below the zero line confirming the presence of a bearish trend. Additionally, the Relative Strength Index (RSI) below the 50 level indicates an escalation in bearish sentiment.

Pepe Price — TradingView: PEPE/USDT 4-hour chart

However, on the upside, $0.0000018 is offering critical resistance, as the EMAs appear on the verge of crossing again. If the lower EMA successfully crosses above the higher EMA, prices might bounce back. This presents the possibility of upward pressure and a potential trend shift.

Nevertheless, it is worth noting that PEPE coin’s market capitalization has increased 2.7% and over the past 24 hours reached $618M. Additionally, the trading volume has risen by 17.1% to $99.8M in the same period. The price also exhibits a daily gain of +3.04%, indicating signs of recovery.

The future trend for the coin will largely depend on whether the neckline break occurs or if it manages to hold.

Why Did Pepe Rebound Today?

Today’s gains in PEPE may be linked to it reaching 133,000 on-chain holders. This milestone indicates a growing community and increased interest, leading to positive market sentiment and upward price movement.

🏆 New achievement unlocked: 133,000 on-chain $PEPE holders. 1️⃣3⃣3⃣🐸💚#pepe #pepeholders #peperecords #pepeachievements #pepeonboarding pic.twitter.com/qLnQsyg71f

— belowthefold – l3eerad 🐸 (@belowthefold1) July 18, 2023

Pepe Community Reacts to Coinbase Listing Debate and FUD-Related Concerns

Positive sentiment manifested among PEPE community members following debates about the potential for Coinbase Exchange to list the meme coin. PEPE followers criticized Coinbase’s recent listing of Helium (HNT), which has lower volume and market capitalization compared to PEPE.

https://twitter.com/OG_Kenobi_Hello/status/1681062054428397569

The demand for Coinbase to list the PEPE coin seems to have contributed to the gains in its value.

https://twitter.com/OG_Kenobi_Hello/status/1681054925214605315

Some crypto enthusiasts attribute the inability of PEPE to list on Coinbase to Fear, Uncertainty and Doubt (FUD) surrounding the cryptocurrency.

It’s bc they messed up by fudding $pepe https://t.co/9e6IIzvI7y

— Rmzy ﾂ (@purpdranknotaro) July 17, 2023

This FUD is linked to the development team of PEPE and their conflicts with @Pauly0x, who assisted in PEPE creation. They believe that these negative incidents are deterring new community members by creating an unfavorable perception of the overall project.

Current state of $PEPE:
Hoping @Pauly0x does something good for $PEPE, but then the dev team is put in bad light and there is only FUD and drama. This does not win you new community members. pic.twitter.com/dtpwr0m5xh

— Captain Pepe 🐸 (0x69) (@captainpepe0x69) July 17, 2023

This may also be the reason that is keeping PEPE below the critical resistance of $0.0000018. Currently, PEPE’s future movement remains uncertain, and there’s another coin that’s catching the attention of many investors.

Pepe Alternative

Thug Life Token is the latest sensation captivating the meme coin community. Its presale surpassed a staggering $1.8 million hard cap in just three weeks. This solidified its position as one of the year’s most successful cryptocurrency presales.

Thug Life Presale Sells Out — Source: Website

Today, July 18, marks the highly anticipated initial DEX offering (IDO) on Uniswap at 18:00 CET. This promises a fair launch strategy with a single price stage.

Meme coins have dominated 2023, and $THUG’s devil-may-care attitude has struck a chord with investors. Supported by a clear roadmap, Thug Life Token plans to list on multiple exchanges and initiate a token burn, fueling excitement for potential gains.

https://twitter.com/thug_life_token/status/1681057883042234370

With over 10K Twitter followers, $THUG has gained momentum, backed by influencers and crypto analysts predicting explosive growth.

The project’s commitment to a three-month liquidity lock ensures a secure trading environment. This protects investors from rug pulls and token dumps.

With a market capitalization of just $6M, Thug Life Token proves big things come in small packages. Investors are eagerly vying for their share of the action, as 70% of tokens were sold in the presale.

Just Partnered Up w/ @thug_life_token ! 💰

They Just 1.8M raised in pre-sale , LP Locked & Contract Renounced & Market Cap at over 6M! 👀$THUG crew goes crazy 🫡#thugpartner pic.twitter.com/LngFVZkDcL

— jack23 (@3jack23) July 17, 2023

As the countdown to the IDO concludes, excitement brews among meme coin enthusiasts. THUG is seeking to achieve a $100 million market capitalization and be listed on Tier-1 centralized exchanges (CEXs). With a focus on scarcity and value, the Thug Life token is determined to make its mark in the cryptocurrency world.