Pepe Price Prediction: PEPE Plunges 10% Despite Coinbase Futures Launch As This Dogecoin Derivative Charges Towards $11M

The Pepe price plummeted over 10% in the last 24 hours to trade at $0.000007147 as of 1:00 a.m. EST as investors offload their holdings in the meme coin.

PEPE is still in the green on the weekly timeframe with a 44% surge, a performance fueled by Coinbase’s listing of PEPE perpetual futures on its platform.

The Pepe Price Gets Rejected By Resistance

4-hour chart for PEPE/USDT (Source: TradingView)

After being rejected by the $0.00000829 resistance level, the Pepe price entered a negative sequence on the 4-hour chart. During the last 24 hours, the meme coin printed a couple of lower lows and lower highs, resulting in the formation of a negative price channel. 

PEPE is now resting on the key support level at $0.00000705. Should sellers pull it below this mark, the Pepe price could fall to the next support at $0.00000631 in the upcoming days.

However, PEPE managing to stay above $0.00000705 for the next 12 hours might invalidate the bearish thesis. In this alternative scenario, the crypto will likely attempt a challenge at the $0.00000829 resistance level.

A 4-hour candle close above $0.00000829 will then give the Pepe price a good foundation to potentially rise from in the following 24 hours. Traders might identify this as a long entry, which could push PEPE up to $0.00000910.

Sellers Gain The Upper Hand And Might Keep Pulling The Pepe Price Down 

Technical indicators on PEPE’s 4-hour chart warn of a continued drop for the Pepe price. This is after both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) both triggered major bearish flags.

Over the past 24 hours, the RSI broke below its Simple Moving Average (SMA) line on the 4-hour chart. When this happens, it is usually seen as a sign that sellers have gained an advantage over buyers, which makes it easier for the former to pull a crypto’s price down.

The MACD line also fell below the MACD Signal throughout the past day of trading, which signals the end of PEPE’s short-term bullish period. PEPE now finds itself in a temporary bearish phase as a result.

What’s more, the MACD line is creating a gap between itself and the MACD Signal line. Meanwhile, the RSI is breaking away below the SMA line as well. Both of these technical flags suggest strengthening sell pressure.

While PEPE battles it out with sellers, smaller meme coins such as Dogeverse (DOGEVERSE) have seemingly unstoppable bullish momentum right now. Investors are rushing to buy the new meme coin at this early stage, with more than $10.73 million already raised in its ICO.

The Next Dog-Themed Meme Coin To Explode

Inspired by Dogecoin, Dogeverse is the latest dog-themed crypto to enter the meme coin space. 

Although its branding has links to the largest meme coin by market cap, Dogeverse is independent from Dogecoin. It sets itself apart from the rest of the meme coin market by being the first cross-chain token in the lighthearted sector of the crypto space.

Deployed on popular blockchain networks including Polygon, Ethereum, BNB Chain, Avalanche, Solana and even the Layer 2 Base, DOGEVERSE gives its token holders the ability to seamlessly shift value across a multitude of networks.

These chains were strategically selected by the team, and are some of the most active networks in the crypto market. DOGEVERSE holders will therefore be able to take part in a variety of decentralized finance (DeFi) protocols with ease.

Investors will also be able to grow their crypto holdings through staking and other yield-generating opportunities. In fact, DOGEVERSE holders won’t even have to swap out their tokens because the project offers a native staking solution on the Ethereum blockchain.

With its high levels of utility, its branding’s link to Dogecoin, and the investor frenzy surrounding its presale, DOGEVERSE has everything needed to potentially skyrocket after launch. 

A Flourishing Presale

DOGEVERSE is already closing on $11 million in funds raised. With the meme coin’s price set to increase in just a few hours, investors are scrambling to buy the crypto now before the next phase begins.

Let’s go! 🚀#DOGEVERSE raises over $10 Million! 💰

Another incredible milestone ticked off! ✅

Join #Cosmo on his multi-chain adventures! 🌌🐕 pic.twitter.com/wNIPuHhplr

— DogeVerse (@The_DogeVerse) April 24, 2024

Investors who want to buy DOGEVERSE before the next phase can do so by navigating to the project’s website. Currently selling for $0.000301, DOGEVERSE can be bought using a number of popular payment options.

DOGEVERSE can be purchased and staked for up to 103% in annual rewards here.

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