Pepe Price Prediction: PEPE Plunges 5% As Investors Flock To This Layer-2 Alternative That’s Just Blasted Past $2 Million

The Pepe price plunged more than 5% over the past 24 hours to trade at $0.00001089 as of 12:00 a.m. EST as investors cash out their positions in the meme coin.

This latest drop has taken the PEPE price into the red by more than 15% over the past week and 25% in the last month.

A Negative Trend Line Is Holding Down The Pepe Price

4-hour chart for PEPE/USD (Source: GeckoTerminal)

A medium-term negative trend line has emerged on PEPE’s 4-hour chart after the meme coin printed multiple lower higher and lower lows throughout the past couple of days. Should bears continue to apply pressure to the altcoin, the Pepe price could be at risk of falling below the immediate support level at $0.00001083 in the next few hours.

A breach of this technical crutch might then expose PEPE to the risk of falling to as low as $0.00000983 in the following 24 hours. This bearish thesis could, however, be invalidated if the Pepe price manages to remain above $0.00001083 for the next 12 hours.

In this alternative scenario, traders might start to accumulate PEPE. This potential buy volume could then push the Pepe price above the descending trend line. 

Overcoming this threshold will clear a path for the crypto to potentially flip the $0.00001219 resistance into support. Thereafter, PEPE could climb to $0.00001367 in the short term.

Bears Could Push The Pepe Price Lower

Sellers are currently overpowering buyers on PEPE’s charts. Technical indicators on the meme coin’s 4-hour chart warn that its price drop might not be over yet. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bearish signs.

Over the past 24 hours, the MACD line crossed below the MACD Signal line to trigger a major bearish flag. Traders usually identify this technical occurrence as an indication that a crypto has entered a short-term negative cycle.

The gap between the MACD and MACD Signal line is also widening, which suggests PEPE’s bearish momentum is intensifying.

Meanwhile, the RSI plunged below the key 50 benchmark during the past day of trading. This could indicate that sellers have gained an upper hand against buyers. As a result, it might be easier for sellers to pull the Pepe price down in the next 24 hours than it will be for bulls to push it up during the same period.

While PEPE remains at the mercy of sellers, investors are flocking to Pepe Unchained (PEPU) for high rewards and potential parabolic gains.

A Meme Coin With Unmatched Utility

New meme coin projects are starting to include a level of utility in an effort to pull investors away from legacy cryptos such as Dogecoin (DOGE) and Shiba Inu (SHIB).

These new tokens either come with some AI integration or multi-chain capabilities. Pepe Unchained (PEPU) takes that a step further by introducing its own layer-2 blockchain network.

Through this native blockchain, the project aims to bring a revised PEPE to the market that is not held back by the scalability limitations of Ethereum. Pepe Unchained will enable  transaction speeds that are 100 times faster than that of Ethereum. It will also include extremely low network fees.

Pepe has broken his chains with his own layer 2 blockchain solution:

🧠 Instant bridging between ETH and Pepe Chain
🧠 Lowest transaction fees
🧠 100x faster transaction speeds compared to ETH
🧠 Dedicated Block Explorer

Join the future with Pepe Unchained! ⛓️🐸 pic.twitter.com/hluCsuV1Xz

— Pepe Unchained (@pepe_unchained) July 1, 2024

Despite having its proprietary chain, investors will still be able to bridge their assets between Pepe Unchained and Ethereum. The layer 2 network will also come with its own blockchain explorer, making it simpler for token holders to view their PEPU transactions.

Rewarding Early Investors Handsomely

Investors are rushing to buy PEPU during its ongoing ICO phase, which recently broke past the $2 million mark. In addition to the promise of a more powerful PEPE, the meme coin is also offering presale investors who stake their tokens a 924% annual yield.

These high rewards caught the attention of the 99Bitcoins YouTube channel, which boasts 705,000 subscribers. It said that PEPU might be a hidden gem that investors should not miss out on.

To become eligible for the high annual staking awards, investors can purchase Pepe Unchained via the simple buy widget embedded on its website. Selling for $0.0082267, PEPU can be bought using either ETH, USDT, BNB or bank card.

Once purchased, the tokens can then be locked up in the staking smart contract by navigating to the staking page on the website. Investors will want to hurry because the token’s price will increase in a little more than a day.

Purchase and stake PEPU here for up to 924% in annual rewards.

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