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The Pepe price has plunged 8% in the last 24 hours to trade at $0.00008583 as of 7:00 a.m. EST on a 27% surge in trading volume to $907 million.
Pepe Price Faces Resistance Within A Falling Wedge
The PEPE/USD trading pair on the daily time frame indicates a potential bullish reversal. A Falling Wedge pattern is evident, which is typically a bullish signal when it appears in a downtrend.
This pattern shows a consolidation with lower highs and lower lows, indicating a weakening of the selling pressure. A breakout from this wedge could lead to a significant upward move, aligning with the suggested target price.
PEPEUSD Analysis Source: Dextools.io
The Pepe price sits within a strong support zone, highlighted in yellow, which has historically attracted buying interest.
The recent bounce off this support level further suggests that the downtrend may be losing steam. Additionally, the price is near the 50-day Simple Moving Average (SMA), which could act as a key resistance or support level depending on the next movement.
The 200-day MA, slightly below the current price, suggests that the long-term trend could still be positive.
Meanwhile, the Relative Strength Index (RSI) is at 46.07, slightly below the neutral 50 level. This indicates that the market isn’t overbought or oversold, providing room for potential upside if buying pressure increases.
The Moving Average Convergence Divergence (MACD) indicator shows a recent bearish crossover, with the MACD line below the signal line. However, the shrinking histogram bars suggest the bearish momentum might be waning.
Pepe Price Poised For A Rally
If a breakout occurs, the Pepe price could rise towards the $0.00001734 mark. This target aligns with previous highs, suggesting a potential price increase of around 30-50% from the current level, depending on the strength of the breakout.
However, waiting for confirmation of the breakout above the falling wedge is essential before making any trading decisions, as failure to break the wedge could lead to continued consolidation or even further downside.
Pepe Unchained Storms Towards $11 Million – Next Meme Coin To Explode?
Meanwhile, PEPE lovers are flocking to the new layer-2 meme coin Pepe Unchained ($PEPU), which is fast-approaching $11 million in early funding.
This momentum has attracted the attention of an analyst on 99Bitcoins, a prominent crypto channel on YouTube, who says $PEPU has 100x potential and is one of the best cryptos to buy now.
Pepe Unchained is making a notable impact in the market, standing out for more than its Pepe theme. While $PEPU taps into the meme coin trend, it also brings technological advancements that catch the eye of crypto enthusiasts looking to boost their profits.
By combining utility with its meme appeal, exemplified by its creative depiction of Pepe with a large brain, Pepe Unchained is positioning itself as a standout in the meme coin space.
Unlike many other projects, Pepe Unchained utilizes layer-2 technology to address the limitations of layer-1 networks. $PEPU also benefits from seamless integration with Ethereum, ensuring smooth transfers and compatibility with decentralized applications (dApps).
Gn Pepe 🐸
Kicking back, recharging, and plotting the next big moves. The weekend may be winding down, but the excitement is just getting started!! pic.twitter.com/ytnpMauezv
— Pepe Unchained (@pepe_unchained) August 26, 2024
The project features low transaction costs as well, making it more accessible to a wider audience and enabling improved scalability, allowing quicker trades and the handling of higher transaction volumes without congestion.
Pepe Unchained also offers a double staking mechanism that boosts rewards for $PEPU investors by reducing operational costs and increasing efficiency.
Currently, rewards are $608.82 per ETH block, with an estimated APY of 185%.
You can buy $PEPU tokens for $0.0093477 each. You must hurry, however, because the price will increase in less than 2 days.
Purchase $PEPU from its official website here using ETH, USDT, or a bank card.
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