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The Pepe price plunged 14% in the last 24 hours to trade at $0.00000725 as of 00:09 a.m. EST on trading volume that dropped 10% to $953 million.
This comes as the whole meme coin sector lost around 6% in the last 24 hours to a market capitalization of $61.5 billion. But PEPE remains up 77% in the last 30 days. Will the bulls be able to recover from the current retracement?
Pepe Price Set To Recover Over The Ascending Triangle
The Pepe price was at a consolidation level at the beginning of the year, trading within the $0.0000020 range. PEPE bulls showed their dominance, using this level as a stable footing to push the price through a markup phase to the $0.00000865 resistance level.
The slight retracement to the $0.0000050 support allowed the bulls to push the price to an all-time high of $0.00001064. This level has become the immediate barrier that the bulls are striving to surpass.
However, the bears may have taken control of the price at this level, as PEPE has not been able to recover as the price trades within the critical support of around $0.00000691.
Additionally, the current price retrace coincides with the price trading below the 50-day and 200-day Simple Moving Averages (SMAs).
Moreover, the Relative Strength Index (RSI) is trading on a downward trend to oversold levels, currently at 34, which suggests that the bears are exerting more pressure on the asset.
PEPE Price Prediction – Bulls Aim For A Reversal
The Pepe price analysis and major indicators show bearish momentum, with the price crossing below the ascending triangle pattern. Additionally, the RSI has already crossed over to the oversold levels, showing that investors are on a selling streak.
However, the RSI crossing over the oversold level may indicate an incoming price recovery, with the bulls aiming for a trend reversal over the upper boundary of the ascending triangle to push the price to the previous ATH at $0.00001064.
The 50-day SMA also crosses over the 200-day SMA, forming a golden cross at $0.00000110, which supports the potential for a further uptrend in the coming weeks.
However, if the bears continue exerting more pressure on the price, the bulls may retreat to the $0.00000691 level, which acts as a cushion against downward pressure.
As the PEPE bulls strive to reverse the downward trend, investors can also consider Dogecoin20 as a worthy alternative as the project gears up for its launch on April 20 on International DOGE Day.
Crypto analyst and YouTuber Jacob Bury believes that DOGE20 has the potential to soar 100X after launch.
Dogecoin20: Best Opportunity For 100X Gains
Dogecoin20 (DOGE20) operates as an upgraded version of Elon Musk’s favorite Dogecoin meme coin, aiming aims to emulate to be greener version of Dogecoin under its Ethos “Do Only Good Everyday.”
Sloth On Solana, Doge20 On Ethereum: 2 New Memecoins To Watch In April 2024
April 2024 is buzzing with excitement in the meme coin community, particularly with two new entrants: Slothana (SLOTH) on Solana and Dogecoin20 (DOGE20) on Ethereum. Dogecoin20 has already reached… pic.twitter.com/1y85ot4Vm6
— CRUXX | Crypto News App (@Coin_CRUXX) April 2, 2024
The project’s dog-themed predecessors, Shiba Inu and Dogecoin, went through massive gains, and DOGE20 aims to emulate their success.
DOGE20 Launches On Doge Day – Last Chance To Buy
The project differs from its predecessor in offering an on-chain staking feature for holders, enabling investors to earn an impressive annual percentage yield (APY) of 66%.
Holders will be able to share 15% of the token’s total supply of 140 billion, which the team has set aside as staking rewards to be distributed over 2 years.
Moreover, the team is set to conveniently launch Dogecoin20 on April 20th, designated as International Doge Day, when market sentiment around DOGE is likely to rise.
Dogecoin20 huh? 🤔 got my calendar scheduled for 4/20 💨 pic.twitter.com/7fLWbZeVjp
— CrudeBoys🃏 (@TheCrudeBoysNFT) March 29, 2024
With the development team extending the presale for one last chance to buy following a blowout $10 million fundraising, those who want to buy should act fast, as the extension might end at any moment.
You can acquire DOGE20 tokens for $0.00022 each through the official website to participate in the action. You can make payments using ETH, USDT, or a bank card.
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