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The Pepe price slumped over 4% in the last 24 hours to trade at $0.00001169 as of 11:50 p.m. EST.
Although the PEPE price managed to reach an intraday high of $0.00001311, the recent dip led to the meme coin establishing a daily low at $0.00001163. Since reaching this short-term price bottom, the crypto has recovered slightly. However, it still trades near this 24-hour low.
The Pepe Price Might Be Getting Ready For A Big Move
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price has been in a consolidation phase between $0.00001070 and $0.00001325 over the past couple of days. This period of sideways trading could be the build up to a big move.
Should the meme coin break out towards the upside, the crypto might attempt to flip the $0.00001325 resistance level into support. A 4-hour candle close above this threshold could then give the Pepe price the foundation needed to continue climbing in the following 24 hours. PEPE might subsequently rise to as high as $0.00001516.
On the other hand, traders deciding to dump the meme coin could lead to a wave of sell pressure. This potential sell volume might then result in PEPE losing the $0.00001070 support and falling to as low as $0.00000895 in the short term.
Technicals Warn The Pepe Price Might Keep Dropping
Technical indicators on PEPE’s 4-hour chart are flashing bearish, which could signal the Pepe price will continue dropping through the course of the next 24 hours. Not only was a major bearish technical flag recently triggered by the Moving Average Convergence Divergence (MACD) indicator, the Relative Strength Index (RSI) also suggests increasing seller strength.
Over the past 24 hours, the MACD line crossed below the MACD Signal line. Traders usually identify this technical occurrence as an indication that a crypto has entered a short-term negative cycle. With the margin between the two lines still growing, it seems the bearish momentum is intensifying as well.
Meanwhile, RSI readings have been on the decline throughout the past trading day. This has resulted in the RSI dropping below the 50 benchmark, which could be seen as a warning that sellers have gained the upper hand against buyers on PEPE’s 4-hour chart.
If the bearish signs shown by the MACD and RSI indicators are validated, the Pepe price could soon lose the support of the $0.00001070 mark and potentially drop some more.
While technical indicators flash bearish and PEPE trades within a sideways channel, there’s maximum bullish sentiment around the Pepe Unchained (PEPU) presale, which has soared past $5.2 million in funds raised.
Allowing PEPE To Flourish Outside Of The Clunky Ethereum Chain
Pepe Unchained (PEPU) aims to free the popular PEPE token from the limitations of the congested Ethereum network.
With Ethereum establishing itself as the de facto network for decentralized application development, many projects have deployed their tokens to the chain. This popularity has resulted in high transaction fees and slow speeds.
Pepe Unchained, with its own layer-2 network, will introduce a more seamless transactional experience that includes speeds 100 times faster than that of Ethereum. Token holders will also benefit from much lower fees.
Investors will, however, still be able to shift their assets across the Pepe Unchained and Ethereum networks. This unlocks the dual benefit of the noticeably faster transaction speeds and reduced fees of Pepe Unchained while also giving access to Ethereum’s robust security.
Pepe Unchained’s appeal to meme coin investors combined with its layer-2 capabilities have caught the attention of the 99Bitcoins YouTube channel, which predicts that PEPU can 10X after launch.
Investors Flock To PEPU’s ICO For A 364% APY
Apart from its mission to unlock PEPE’s full potential, there is also an appealing 364% annual yield for staking PEPU tokens.
Assembly in progress 🐸🔧 pic.twitter.com/si3nflppoP
— Pepe Unchained (@pepe_unchained) July 24, 2024
Anyone who purchases and locks up PEPU tokens during the project’s ongoing ICO will gain access to these high rewards.
To get started, investors will need to acquire the token using the buy widget embedded on the project’s website. ETH, USDT, BNB or bank card can be used to buy PEPU, which is currently selling for $0.0086304.
Potential buyers should act quickly because PEPU’s price is scheduled to increase in less than 18 hours.
Purchase PEPU here before its price increases.
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