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Pepe Price Prediction: PEPE Plummets 11% As Traders Migrate To This Meme Coin With A 431% APY

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Pepe price
Pepe price

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The Pepe Price plummeted 11% in the past 24 hours to trade at $0.000008923 as of 7:00 p.m. EST. 

Some analysts now speculate that a massive pump is coming after it fell to the bottom of its price range.

Pepe Price Prediction: Pepe Breaks Below Support

Looking at charts, things don’t look so good for Pepe . The Pepe price has broken out of its rising channel pattern, which indicates a reversal or retracement of the trend.  Looking at the Moving Average Convergence Divergence (MACD), we notice a bearish crossover, with the MACD line (blue) crossing below the signal line (orange), which signifies that the momentum is shifting toward the downside. The histogram bars are below the zero line and show red, asserting the bearish momentum.

On the flip side, the Relative Strength Index (RSI) is around 41, which is slightly below the mid-point. This suggests that the market is not in an overbought or oversold condition. However, its sharp southern trajectory signifies mounting selling pressure. 

4-hour PEPE/USDT Chart | Source: TradingView

However, despite this, there is a lot of interest in PEPE as we recently saw its trading volume come close to a $2.5 billion high. This comes as whales who bought PEPE cash out, as seen in the last couple of days. 

Despite this, experts still say the market is optimistic and will probably recover shortly. A combination of factors, including growing interest in Bitcoin ETFs, talk of Ethereum ETFs, and the impending Bitcoin halving, has improved the overall market outlook.

While Pepe’s price follows the general trend of meme coins being dumped, Sponge V2 is attracting attention because of rumors it is about to list on multiple top-tier exchanges.

Sponge V2 is the successor to Sponge, which exploded 100X on launch last year in a bear market, and its development team aims to improve on that this time around.

It’s one of the top five meme coins you can buy right now, according to YouTuber Jacob Bury.

Exciting New Alternative

Last month, Sponge V2 announced the retirement of its predecessor, Sponge V1. The new project moved to Polygon after a hostile attack on its liquidity pool.

The project’s thrilling sequel brings a new staking mechanism, a Play-to-Earn (P2E) game, and a large marketing budget, all of which are contributing to the project’s resurgence. 

With more than 9.2 billion tokens staked, token holders are enjoying annual percentage yields (APY) as high as 431%. Partly because of that, experts have named it as one of the five best cryptocurrencies to buy right now.

Sponge V2 has also debuted a new P2E racer game to boost community involvement. It involves players battling it out for the chance to win $SPONGEV2 tokens. 

Visit the website here to join the the SPONGEV2 presale.

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