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The Pepe price pumped over 7% in the last 24 hours to trade at $0.00001973 as of 11:15 p.m. EST as traders go long on the meme coin.
With the recent gain, the frog-themed token has managed to boost its weekly performance out of the red. As a result, the PEPE price is up over 5% in the last 7 days.
Pepe Price Trying To Overcome A Major Technical Obstacle
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price is attempting to establish a position above the $0.00001961 resistance level, according to GeckoTerminal data. Closing the next 3 4-hour candles above this technical barrier could give the meme coin the necessary foundation to keep rising in the following 24 hours. PEPE might then be able to overcome the negative trend line that has emerged on its charts.
Rising above the descending trend line could lead to the Pepe price climbing toward the $0.00002414 resistance level to potentially flip the mark into support. Thereafter, continued pressure from buyers might push the Pepe price up all the way to $0.00002867.
On the other hand, PEPE failing to establish a position above $0.00001961 within the next 12 hours could bring an end to the meme coin’s bullish move. In this alternative scenario, the meme coin stands the risk of plummeting all the way down to $0.00001461.
Technical Indicators Warn The Pepe Price Might Correct Soon
From a technical standpoint, indicators on PEPE’s 4-hour chart suggest the crypto’s positive momentum has hit a roadblock. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) warn the Pepe price might drop in the coming 24 hours.
RSI readings rose to above 50 in the last few hours to indicate that bulls and bears are evenly matched. However, the current negative slope of the indicator might suggest that sellers could soon take control if the indicator’s readings drop back below 50.
The MACD also suggests a correction might take place soon. This is after the MACD line broke above the MACD Signal line to indicate that the Pepe price has entered a positive cycle. Since these two lines intersected, the gap between them has started to shrink. Traders might interpret this as a sign that PEPE’s bullish momentum is starting to cool off.
While indicators start to show bearish signs on PEPE’s 4-hour chart, investors are rushing to buy layer-2 challenger Pepe Unchained (PEPU) for potential parabolic gains.
Elevating The Pepe Brand To New Heights In The Crypto Market
Pepe Unchained (PEPU) is on a mission to take the Pepe brand to a new level in the crypto market. To achieve this, the project will rely on its layer-2 network that is 100 times faster and substantially cheaper to transact on than PEPE’s current host, Ethereum. This enhanced transactional experience will be accessible through the PEPU token.
In addition to its mission to free Pepe from the slow and congested Ethereum network, Pepe Unchained will also facilitate the creation of the next generation of decentralized applications on its network. This comes after the team launched its developer grant initiative.
What’s more, Pepe Unchained also recently unveiled its own meme coin creation platform, which will compete directly with the popular Solana-based Pump.fun.
With all of these recent developments, it’s easy to see why experts are bullish on PEPU’s future. Among them is YouTuber Austin Hilton, who told his more than 283K subscribers that PEPU has the potential to soar 10X after its launch.
Speculation Of A Binance Or Coinbase Listing Pushes PEPU’s Presale Raise To Above $55.6 Million
Pepe Unchained has been one of the best performing ICOs this year, and continues to pull investors in as its total raise soars to above $55.6 million. This buying frenzy is likely to continue as the project gears up for its highly-anticipated launch that will take place in 15 days. This places the Pepe Unchained launch date at around Dec. 13, 2024.
Pepe's just here to wish you a beautiful day today. 💚🐸 pic.twitter.com/Y3vUnbXypO
— Pepe Unchained (@pepe_unchained) November 27, 2024
With PEPU’s presale nearing its end, whales are starting to rapidly accumulate the meme coin as well. Adding to the hype around Pepe Unchained is the team’s recent announcement that the token will be listed on multiple tier-1 exchanges. Investors are now starting to speculate that Binance or Coinbase or even both will be welcoming PEPU to their platforms soon.
Both Binance and Coinbase have shown an appetite for red-hot meme coins. Just recently, PEPE was listed on Coinbase, which caused its price to skyrocket. If PEPU gets added to any of these exchanges, it could undergo a similar surge in price.
Investors who want to acquire PEPU before its launch can purchase the meme coin on its website using either ETH, USDT, BNB or bank card.
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