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Pepe Price Plunges 7% In A Week As Traders Pivot To This Layer-2 Derivative And Its 596% APY

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PEPE price
PEPE price

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The Pepe price has plunged 7% in the last seven days and 2% in the past 24 hours to trade for $0.000009107 as of 00:15 a.m. EST on trading volume that slumped 10%.

Meme coins, often driven by broader market sentiment, continue to bleed as the Bitcoin price mark times in the $57,000 range. But some traders remain optimistic, anticipating a recovery, particularly for big market capitalization meme coins like PEPE.

Pepe Price Prediction

The Pepe price is trading with a bearish bias, confined within a descending parallel channel with prospects for further losses, at least for the short term. As long as the frog-themed token remains within the confines of this bearish technical formation, token holders can expect further losses.

A close look shows that the Pepe price is confronting immediate resistance due to the centerline of the channel. Selling pressure from this supplier congestion level appears to be overpowering buying pressure.

The Relative Strength Index (RSI) shows this as it is subdued below the mean level of 50. In the same way, the Moving Average Convergence Divergence (MACD) indicator remains suppressed below the foothold of the signal line (orange band).

Given these conditions, the PEPE market sentiment is leaning more towards selling or a downtrend in the short term. Traders may want to exercise caution or consider potential short positions until there is a clear indication of a reversal or a bullish breakout above the resistance level.

A rejection from the centerline could see the Pepe price drop to test the 78.6% Fibonacci retracement level at $0.000006960. In a dire case, the slump could extrapolate for the frog-themed token’s market value to retest the depths of $0.000004159, levels last seen in mid-April.

PEPE

GeckoTerminal: PEPE/USD 1-day chart

Converse Case

On the other hand, bulls could manage to overcome resistance due to the centerline of the channel if bulling momentum increases. In such a case, a stable candlestick close above the 61.8% Fibonacci retracement level of $0.000009159 would encourage more buy orders.

In a highly bullish case, the gains could extend further north for the price to flip the 50% Fibonacci placeholder into support above the $0.000010704 level. A decisive candlestick close above this level on the one-day timeframe would be an ideal entry for long positions.

Meanwhile, as the Pepe price dumps, the Pepe Unchained (PEPU) presale continues on a parabolic trajectory with more than $3.1 million raised.

YouTube channel 99Bitcoins, boasting over 705K subscribers, highlights PEPU as one of the best cryptos to buy now, saying it has the potential to soar 100X after its launch.

Promising Alternative To Pepe

Pepe Unchained is a meme coin project following in the footsteps of its predecessor, the crypto titan Pepe.

PEPU is taking the sector by storm, not least because it’s the first Pepe derivative to run on its own proprietary Ethereum Layer 2 blockchain. This positions Pepe Unchained to address the scalability, speed, and efficiency issues that often plague meme coins running on the Ethereum Layer-1 blockchain.

As a Layer-2 (L2) blockchain meme coin, Pepe Unchained will allow investors to seize market opportunities with greater efficiency.

PEPU holders also can stake their tokens for an annual percentage yield (APY) of 596%. Take note, however, that these rewards reduce as more investors stake their tokens, so buy and stake PEPU early to secure the best deal.

Stake PEPEU

The distribution of $PEPU token rewards will occur at a rate of 608.82 $PEPU tokens per ETH block. These rewards will be disbursed over 2 years and will be claimable once the token launches.

You can buy $PEPU tokens for $0.0083591 each. With a price hike coming in a little more than 18 hours, buy soon to lock in the best deal.

Visit and buy Pepe Unchained here.

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