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The Pepe price surged 15% in the last 24 hours to trade at $0.000009520 as of 00:29 a.m. EST on trading volume that skyrocketed 86% to $2.2 billion.
This comes as the meme coin space jumped 24% to reach a $74.4 billion market capitalization after Bitcoin hit a new all-time high on expectations that Donald Trump will win the US election.
Other leading meme coins also recorded massive gains, with DOGE leaping 24.5%, SHIB soaring 10.7%, and WIF surging 6.6%.
Pepe Price Poised For A Breakout
The Pepe price has declined since May after it hit its all-time high of $0.00001717. However, the $0.0000080 acted as a major support level, which allowed the price of Pepe to trade within a descending triangle pattern, according to data from GeckoTerminal. The PEPE price now aims for a breakout, as it trades within the triangle’s upper boundary.
PEPE now trades slightly above the 50-day Simple Moving Average (SMA), which shows that the Pepe price is currently building momentum. A positive trajectory could push the price of Pepe above the 200-day SMA, currently at $0.000009855.
Meanwhile, the Relative Strength Index (RSI) seems to be recovering above the 50-midline level, which shows that the asset is building up positive momentum.
If the bulls succeed in pushing the price above the triangle, PEPE could surge, as they target $0.0000140 in the long term.
However, if the bears take control of the price at this level, PEPE could plunge back to the $0.0000080 support zone.
Meanwhile, investors are going all-in on a new PEPE alternative called Pepe Unchained ($PEPU), which leading YouTube channel 99Bitcoins, with more than 706k subscribers, says could be the next meme coin to deliver 100x returns.
Pepe Unchained Roars Toward $25 Million
Pepe Unchained ($PEPU) is kicking off the first week of November with a bang as presale funds soar past $24.9 million.
As its name suggests, Pepe Unchained is designed to free, or ”unchain,” the OG PEPE from its clunky, inefficient home on Ethereum.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
That’s why it is designed to run on a proprietary Layer 2 blockchain, which offers superior transaction speeds and significantly reduced fees compared to the original Pepe ($PEPE), which runs on Ethereum’s slower, more expensive Layer 1 network.
But Pepe Unchained is more than just a meme coin. The project’s website now features a portal where developers can apply for grants to build on its L2 chain. The goal is to create new dApps and leverage its technology for even faster and more cost-efficient transactions.
And the project also plans to open its ecosystem to other meme coins.
WE JUST HIT $20M RAISED!
And with this milestone, we have another major project update to share with our incredible community! pic.twitter.com/z9xlqZ2dAV
— Pepe Unchained (@pepe_unchained) October 16, 2024
In the meantime, PEPU holders can stake their tokens for a huge 95% annual return.
PEPU tokens are currently priced at $0.01229 each. Investors eager to join one of the most successful presales of the year should do so before a price hike in less than 2 days.
Buy PEPU tokens on the official website here with ETH, USDT, or a credit card.
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