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The Pepe price dropped by 19% in the last 24 hours to trade at $0.000006337 as of 5:45 a.m. EDT on trading volume that went up by 2% to $1.2 billion.
Despite the recent correction, PEPE is still up by 430% from a month earlier.
Now that the market sentiment has turned amid a flash crypto crash, it’s cryptos like Pepe that have the most to lose.
Of course, those who have been in crypto for a while now know that price drops are just a part of the process. Pepe itself continues to focus on posting memes, with rare commentary on its own performance.
Pepe Price Prognosis
Pepe has been one of the most popular meme coins almost from the moment it emerged, which is why it jumped on the opportunity to join the recent rally. However, once the market sentiment turned, the token was also among the first to start to drop.
Over the past week, PEPE has broken through one support after another, eventually sinking to the one at $0.0000060. Now, however, traders are looking to technical indicators to try and predict where the token might go from here.
While the price drop is not PEPE-exclusive, and instead, the whole market has seen strong price declines in the last 24 hours, technical indicators can still provide some insight into what might happen next.
According to the token’s Bollinger bands, PEPE is likely to continue to see strong bearish performance. The bands have seen strong narrowing, and they continue to tighten further, as can be seen on the chart above. This is a bearish signal which suggests that further price drops are possible.
On the other hand, there is the token’s Relative Strength Index (RSI) value which is actually showing that PEPE has ventured into an oversold zone in the past few days, and has since seen some traders move in to buy the dip. This brought RSI back to a more neutral position, with its current value being at 49.73.
If the traders continue to buy, the token’s RSI is likely to keep venturing further up, which could mean that its price might see a recovery. However, for the moment, Bollinger bands suggest a bearish performance, while the current RSI value remains neutral, which, together, still favors the bears.
If the bulls manage to take over the market again, PEPE will have a resistance at $0.000007 to deal with first. Alternatively, its price has not broken the support at $0.0000060 yet, so if the bearish pressure increases, this will be its first obstacle, followed by another extremely strong support at $0.0000040.
Promising Alternative to Pepe
Right now, one of the most promising alternatives to Pepe is a cryptocurrency known as Dogecoin20 (DOGE20).
This is a token that launched its presale only five days ago, and it’s already raised over $2.83 million, becoming one of the most successful meme coin presales in 2024.
The project’s idea is to be a more eco-friendly version of the original DOGE, but also to bring staking to the project, thus creating a valuable use case for its token.
Dogecoin20 has detailed tokenomics, a well-developed roadmap, and since it is running on Ethereum’s network, any ERC-20 wallet can hold it with ease. So, if you are a fan of Dogecoin but wish to be able to engage in staking and use a greener version of it, Dogecoin20 is the way to go.
Boom!!! 💥
Another milestone in the bag for #DOGE20! 🎉🐶
We have just raised over $2,000,000! 💰
The excitement never ends with #Dogecoin20, stay tuned for more! 🚀#Memecoins #Altcoins #Crypto #Web3 pic.twitter.com/28AWvdtrGZ
— Dogecoin20 (@DOGE_COIN20) March 18, 2024
DOGE20 is selling for only $0.0002, and it can be obtained in exchange for ETH, USDT, or purchased with a credit or debit card. But a price increase is coming in little over two days, meaning that the time to buy is now
Visit DOGE20 presale here.
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