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The Pepe price slumped 14% in a week and 1% in the last 24 hours to trade at $0.000008089 as of 00:28 a.m. EST on trading volume that surged 8% to $1.1 billion.
This comes as the meme coin sector gained 2% to reach a market capitalization of $61 billion, according to CoinGecko.
Pepe Price Aiming For A Bullish Trend Reversal
The Pepe price chart shows a long-term descending triangle pattern. This pattern is generally bearish but can lead to a breakout in either direction if there’s enough volume and momentum.
The price is approaching the triangle’s apex within the $0.000008089 support, where it often breaks out, according to data from GeckoTerminal.
As a result of the downtrend within the triangle, the price of Pepe now trades slightly below both the 50-day and 200-day Simple Moving Averages (SMAs). However, the 50-day SMA is now closing in on the 200-day SMA, which might form a golden cross in the coming days, a signal that the price of Pepe might be headed towards a rally.
The Relative Strength Index (RSI) is currently at 37.4, which is close to the oversold region (below 30). This reading suggests that the asset is near oversold conditions, meaning it could have room for a bounce or rally, particularly if buyers step in.
According to the PEPE/USD chart analysis, the Pepe price is now moving toward the apex of the descending triangle, meaning that the asset may soon break out. In this scenario, the bulls could push the asset to the next possible resistance at $0.0000130.
However, if the price of Pepe breaks below the support zone, PEPE could drop to the next possible support level at $0.0000060.
As the Pepe price aims for a bullish breakout, investors are rushing to buy a new, upgraded version of the meme coin called Pepe Unchained (PEPU).
YouTube channel 99Bitcoins, with over 706K subscribers, says it has the potential to soar turn $1k to $10k after launch.
Pepe Unchained ICO Soars Past $24.6 Million In Funds Raised
Pepe Unchained is designed as a new, superior version of the PEPE meme coin, and that’s why it comes with its own Layer 2 blockchain.
That means PEPU offers faster and more cost-effective transactions for Pepe ownership, positioning itself to become the top frog-themed meme coin in the market after it launches.
We’ve been approached by several Tier 1 exchanges interested in $PEPU.
While this is an exciting opportunity that will boost visibility and liquidity, it also requires careful planning to ensure the best possible launch.
— Pepe Unchained (@pepe_unchained) September 18, 2024
Token holders can also earn passively through the platform’s staking system, which offers a huge 96% annual return.
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
If you would like to join investors who have pumped more than $24.6 million into the biggest presale of the year, you can buy $PEPU tokens for $0.01219 each right now.
With a price hike coming less than 20 hours, 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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