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The Pepe price plunged 5% in the last 24 hours to trade at $0.00001116 as of 01:09 a.m. EST on trading volume that dropped 20% to $528 million.
This comes as the meme coin sector tumbled 3% to a $47.7 billion market capitalization.
Pepe Price Set To Surge
The Pepe price surged mid-July, through a markup phase to the $0.00001251 resistance, according to data from GeckoTerminal.
PEPE then went into consolidation, trading within the sideways pattern, with the bears and bulls struggling for dominance, as the price touched the horizontal support and horizontal resistance.
The price of Pepe now trades well above the 200-day Simple Moving Average (SMA), a confirmation of the bullish prospects in the long run. A bullish stance at this point could push the price of Pepe above the 50-day SMA, which now acts as the immediate resistance zone at $0.00001188.
Moreover, the Relative Strength Index (RSI) is also dropping as it coincides with the price fall, as the RSI hurtles towards the 30-overbought region, currently at 34, as it heads down. The RSI trend shows intense selling pressure, which then shows that the asset is currently undervalued.
According to the Pepe price analysis on the 4-hour chart, PEPE is set to soar from the lower boundary of the sideways pattern as it aims to break out of consolidation. With the RSI showing that the asset is currently undervalued, buyers may take this as a buying opportunity, which could push the price of Pepe up, with the bulls currently targeting $0.0000140.
However, if the bears continue selling, PEPE may retrace back to the support level of around $0.0000090, which acts as a cushion against downward pressure.
Pepe bulls remain optimistic about a price breakout, and there’s similar optimism around the new presale Pepe Unchained (PEPU), which has charged past $6.5 million in funds raised.
The optimism around the meme coin’s outlook is no doubt why a whale investors recently made a big splash by gobbling up almost $200,000 worth of Pepe Unchained tokens.
According to 99Bitcoins, a crypto channel on YouTube, $PEPU is one of the best cryptos to buy now, with the potential for 100X gains after its launch.
Pepe Unchained Raises Over $6.5 Million – Best Meme Coin To Buy Now?
Pepe Unchained looks to emulate the success of its predecessor, PEPE, which delivered mind-blowing returns to investors last year.
As its name suggest, Pepe Unchained will free Pepe from his old, clunky Layer-1 server room on Ethereum. Instead, the project will run on its own proprietary Ethereum Layer 2 blockchain.
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
The project thus will tackle the scalability, speed, and efficiency issues plaguing meme coins built on the Ethereum Layer-1 blockchain.
Token holders have the opportunity to also stake their tokens for an annual percentage yield (APY) of 298%.
You can buy $PEPU for $0.0088044. With a price hike coming in less than two days, buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website using ETH, USDT, or a bank card.
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