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The Pepe price surged 13% in the last 24 hours to trade at $0.00001170 as of 02:33 a.m. EST on trading volume that skyrocketed 78% to $940 million.
This comes as the meme coin market rebounded in the last 24 hours with a 6% increase to a $47 billion market capitalization, with top meme coin titans, DOGE and SHIB rising 3% and 2% respectively in the last 24 hours.
Pepe Price Set For A Bullish Rally Over The Descending Triangle
After hitting its all-time high (ATH) of $0.000017, Pepe price has been on a downtrend, trading within a descending triangle pattern, according to data from GeckoTerminal. The trend indicates that sellers have been more aggressive than buyers as the price continued to make lower highs.
However, the trend has recently narrowed, with the current open interest (OI) for PEPE increasing by 17%, according to Coinalyze data. Investors are now anticipating a breakout above the horizontal support level of around $0.00001070.
With the bulls using the support level, they have eventually breached the 50-day Simple Moving Average (SMA), an indication that the PEPE price may be gearing up for a major rally. If this trend is sustained, the price of Pepe may overcome the 200-day hurdle around $0.00001331.
The Relative Strength Index (RSI) is rebounding from the oversold levels, as it crosses the 50-midline level to trade currently at 56. With the RSI soaring, it seems the buyers have an upper hand, which if sustained, the token could soar higher.
Moreover, the Moving Average Convergence Divergence (MACD) is also bullish, with the blue MACD line crossing over the orange signal line, representing a bullish crossover. With the green bars on the histogram extending beyond the neutral line, the Pepe price is on a positive momentum.
Pepe Price Prediction
According to the price analysis on the 4-hour chart, the Pepe price shows a bullish bias, with the bulls aiming to push the token over the descending triangle, currently targeting $0.000020.
However, in an inverse scenario, if the bears take control of the price at this level, the price of PEPE could breach the horizontal line to the next support zone around $0.00000896.
As the PEPE price soars, other meme coin lovers are also buying its alternative, Pepe Unchained (PEPU), which has raised over $620K in just a few days.
Pepe Unchained Raises 620K In Less Than A Week – Best PEPE Alternative To Buy Now?
Since its inception last year, Pepe has continued to rule the charts, despite a wave of upcoming meme coins.
However, Pepe was originally built on the Ethereum blockchain, which is mostly handicapped by network delays and rising gas fees.
The new player, Pepe Unchained, is based on PEPE planning on a breakout from his chains and embracing the future with Pepe Unchained. PEPU 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
As a result, the project will finally tackle the scalability, speed, and efficiency issues that often plague meme coins that are built on the Ethereum Layer-1 blockchain.
$PEPU holders can also earn passively through the platform’s staking system, which offers an annual percentage yield (APY) of 3,700%.
According to 99Bitcoins, a prominent crypto channel on YouTube, $PEPU is one of the best cryptos to buy now. It adds that the token could potentially soar 100X after its launch.
You can buy $PEPU tokens for $0.008032 each. With a price hike coming in less than 17 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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