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The Pepe price plunged 2% in the last 24 hours and 13% in the last week to trade at $0.00001027 as of 00:37 a.m. EST on trading volume that skyrocketed 62% to $1 billion.
Despite data showing that the PEPE market is bearish, IntoTheBlock shows that holders making money at the current price are up 73%.
Pepe Price Aims For A Continued Bullish Trend Reversal
The Pepe price has been in consolidation since July 16, trading within the $0.00001297 resistance and the $0.00001196 support, according to data from GeckoTerminal. The bears and the bulls have been struggling for dominance within this range, with PEPE trading on a sideways pattern.
However, yesterday, the bears seemed to have gained control of the price of PEPE, plunging below the lower boundary of the pattern to the $0.000009994 support zone.
Since then, the price has been on a positive trajectory but still trades below the 50-day and 200-day Simple Moving Averages (SMAs).
The Relative Strength Index (RSI) supports the trend, as it rebounds from below the 30-oversold level, currently at 32, and is climbing.
The rising RSI shows that buyers are exerting pressure, taking advantage of the asset’s undervaluation. If the buying continues, the price of PEPE could continue with its current surge back to the consolidation phase as the bulls target prices above the upper boundary at $0.00001313.
However, as the token still trades below both the 50-day and 200-day levels, bears may take control of the price. In such a scenario, PEPE could retrace back to the $0.000009990 support level, which will provide strong support and a cushion against further downward pressure.
Meanwhile, as the Pepe price bulls push for a bullish trend reversal to the upside, other meme coin lovers are buying its new alternative, Pepe Unchained (PEPU). The project has already garnered over $6.8 million in its blockbuster presale.
The YouTube channel 99Bitcoins, with more than 706k subscribers, says PEPU offers ”insane rewards” and urges investors not to ”miss out.”
Pepe Unchained Raises Over $6.8 Million– Best Meme Coin To Buy Now?
Pepe Unchained is set to follow the success seen by its predecessor, PEPE, which has delivered mind-blowing returns to early investors.
Time to build!
Pepe's hard at work! 🐸 pic.twitter.com/crteXaqwmG
— Pepe Unchained (@pepe_unchained) August 2, 2024
As its name implies, Pepe Unchained frees Pepe from its old, clunky Layer-1 server room. It thus tackles the scalability, speed, and efficiency issues that plagues Pepe and other meme coins built on the Ethereum Layer-1 blockchain.
Not only does it offer a speedy and wallet-friendly way to get a crypto Pepe fix, but it also comes with a fresh new blockchain on Ethereum, its own proprietary Layer 2 chain with its own consensus mechanism and blockchain explorer, which essentially is a whole new ecosystem.
Token holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 285%.
You can buy $PEPU tokens for $0.0088396 each right now. With a price hike coming in less than 2 days, 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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