Pepe Price Prediction: PEPE Pumps 4% In A Week, But Investors Flock To This Layer-2 Meme Coin Offering A 231% APY

The Pepe price is up over 4% on the weekly timeframe following a 2% pump in the last 24 hours to trade at $0.000008035 as of 11:45 p.m. EST as investors slowly start to buy into the meme coin.

Along with the uptick in the PEPE price in the last 24 hours, the crypto’s trading volume also surged 15% to above $808 million.

The Pepe Price Stuck In A Consolidation Phase

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

The Pepe price has been in a tight consolidation phase between $0.000007212 and $0.000008988 for the past couple of days. This period of sideways trading could be an accumulation phase before the meme coin enters a bullish move.

Should buyers decide to push PEPE up in the coming 48 hours, the crypto will likely attempt to flip the resistance level at $0.000008988 into support. A 4-hour candle close above this threshold might then give the Pepe price the technical foundation needed to rise to as high as $0.000011872 in the short term.

On the other hand, traders opting to dump the meme coin in the next few days could prevent the bullish thesis from happening. In this alternative scenario, the Pepe price might end up testing the immediate support level at $0.000007212. Continued sell pressure should PEPE drop to this point could then result in the crypto plunging to $0.000005585 in the following 24 hours.

Bearish Technicals Warn The Pepe Price Might Drop In The Short Term

Technical indicators on PEPE’s 4-hour chart show that bears currently have a slight upper hand over bulls. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing negative signs. As such, the Pepe price might be at risk of dropping through the course of the next trading day.

The RSI line is currently below the major 50 benchmark. Traders usually see this as an indication of bearish strength. What’s more, the negative slope of the RSI line warns that sellers might be growing stronger against buyers, which could lead to a price drop if the technical sign is validated.

Meanwhile, the MACD line is positioned below the MACD Signal line on the 4-hour chart to indicate that PEPE is currently in a short-term bearish trend. However, the prior is starting to close in on the latter, which could be an early sign of the meme coin’s trend undergoing a bullish trend reversal.

While PEPE trades in a consolidation channel, investors are rushing to buy Pepe Unchained (PEPU) for its competitive staking program.

Freeing PEPE From Its Ethereum Shackles

PEPE has rapidly climbed the crypto ranks since entering the market to become one of the top meme coins. However, the project’s potential has hit a ceiling, mainly due to the high fees and slow processing times of the congested Ethereum blockchain. Pepe Unchained (PEPU), with its own layer-2 network, aims to introduce an enhanced PEPE to the market. 

By shifting the meme coin’s transaction processing off of the Ethereum mainnet, Pepe Unchained will achieve transaction speeds up to 100 times faster than Ethereum’s current throughput. What’s more, token holders will also be able to send and receive PEPU at a fraction of the cost.

Investors will, however, still be able to bridge their assets between the Pepe Unchained and Ethereum networks with ease. This allows token holders to simultaneously benefit from Ethereum’s robust security and Pepe Unchained’s lightning-quick speeds.

In a recent video, influential crypto YouTuber Zach Humphries said that Pepe Unchained’s enhanced utility could position it for massive success in the meme coin space.

Investors Bet Big On PEPU’s Future

More than $8.4 million has already been sent to Pepe Unchained’s ongoing ICO, signaling strong investor confidence in the project’s future. In addition to the project’s speculative potential, the 231% APY on offer to anyone who purchases and stakes PEPU at this early stage could be one of the reasons investors are rushing to buy the meme coin.

To unlock these rewards, investors will first need to buy PEPU via the simple buy widget embedded on the project’s website. Selling for $0.0090178, the token can be bought using either ETH, USDT, BNB or bank card.

Are you ready to connect to the first meme coin layer 2? It’s coming soon!🐸🧠 pic.twitter.com/4Dgs0pSkot

— Pepe Unchained (@pepe_unchained) August 11, 2024

Once purchased, the tokens will need to be locked up through the staking page on the website for investors to gain access to the 231% APY. Anyone looking to buy the token might want to hurry, because PEPU’s price is scheduled to increase in the subsequent stages of its ICO.

Purchase and stake PEPU here before its price increases.

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