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The Pepe price slumped 3% to trade at $0.000009741 as of 00:22 a.m. EST on trading volume that plunged 19% to $1 billion.
This comes as the meme coin space gained 1% in the last 24 hours to reach a market cap of $74.9 billion.
Pepe Price Could Be Moving Towards A Bullish Trend Reversal
The Pepe price has been on an uptrend in October, as the bulls took charge within the $0.000008992 support, and the price soared through a rising channel pattern, according to data from GeckoTerminal.
However, a recent bearish trend allowed the price to plunge below the channel’s lower boundary, and now PEPE is trading within a consolidation phase.
The slight correction has now pushed the Pepe price to trade below both the 50-day and 200-day Simple Moving Averages (SMAs).
Moreover, the Relative Strength Index (RSI) is at 38.98, which is close to the oversold region (below 30). This indicates that the asset is slightly bearish but not yet heavily oversold. There may be room for further downward movement, but it’s also a potential area for a bounce as buyers might step in if the RSI dips further.
The Moving Average Convergence Divergence (MACD) is showing signs of a positive trend, as it crosses above the orange signal line, forming a bullish crossover.
A successful bullish trend reversal at this level could see the price of Pepe rebound from the current price, with the $0.000012 resistance acting as the next possible target.
However, if the bears take charge of the price at this level, the price of Pepe could plunge to the $0.0000090 support level.
As the Pepe price aims for a bullish rally, investors are rushing to buy a new badass Pepe alternative called Pepe Unchained (PEPU), which is one of the most successful presales of the year.
YouTube channel 99Bitcoins, with over 706K subscribers, says it has the potential to soar 100X after launch.
Pepe Unchained Soars Past $22 Million
The blockbuster Pepe Unchained presale has raised a massive $22.3 million as investors buy into the idea that it represents a quantum leap for the Pepe ecosystem.
This innovative project comes with its own Layer 2 blockchain that is designed to free, or ”unchain,” the OG PEPE meme coin from its clunky Layer 1 network on Ethereum.
The project addresses fundamental challenges that plague traditional Layer 1 blockchains like Ethereum. Through its advanced Layer 2 solution, Pepe Unchained significantly reduces transaction costs and brings transaction speeds estimated at up to 100 times faster.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
Token holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 102%.
You can buy $PEPU tokens for $0.01177 each currently. With a price hike coming in about 14 hours, 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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