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The Pepe price surged over 8% in the last 24 hours to trade at $0.000007695 as of 11:45 p.m. EST as investors buy the dip after Monday’s crypto crash.
This strong performance by the PEPE price comes as the market recovers, with crypto’s market capitalization surging more than 4% in the last 24 hours.
The Pepe Price Bounces Off Of Key Support
4-hour chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price bounced off of the key support level at $0.000005750 in the last 24 hours, and is now attempting to overcome the major resistance at $0.000008327. Should the meme coin manage to break above this threshold within the next 24 hours, it could have the technical foundation needed to rise to the subsequent barrier at $0.000010840.
On the other hand, a rejection from the $0.000008327 resistance might invalidate the bullish thesis. Traders could subsequently end up panic selling their holdings in PEPE, which could push the crypto back down to the aforementioned $0.000005750 mark. Losing this key support could then open up the risk of the meme coin falling further in the following 24 hours.
The Pepe Price About To Trigger A Major Bullish Technical Flag
From a technical perspective, indicators suggest the Pepe price could continue to rise through the course of the next trading day. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing positive signs.
A major bullish technical flag is on the verge of getting triggered by the MACD. This comes after the MACD line rose towards the MACD Signal line over the last 12 hours. Should the two technical indicators cross, it could confirm that PEPE has entered a short-term positive cycle.
Buyers have also been growing stronger against sellers throughout the past day of trading, which is evident by the rising RSI values during this period. Although the RSI is still bearishly below the 50 benchmark, the positive slope of the indicator suggests the RSI could cross this mark in the next 24 hours.
While PEPE tries to overcome the strong resistance at $0.000008327, investors are flocking to buy layer-2 meme coin Pepe Unchained (PEPU), which is now within a whisker of raising $7.5 milion in its presale.
Introducing A Much Faster And Cheaper PEPE
Pepe Unchained (PEPU) aims to enhance PEPE by taking the popular meme coin off the highly congested Ethereum network. To do this, the project will introduce its own layer-2 chain.
With this native blockchain, Pepe Unchained will unlock transaction speeds 100 times faster than that of Ethereum, while also reducing PEPE transaction fees to a fraction of what they are now.
Pepe Unchained will come with a dedicated blockchain explorer as well, giving investors the ability to view their transactions and balances without having to filter through a countless number of tokens first.
Investors will, however, still be able to seamlessly move value between the Pepe Unchained and Ethereum networks through bridging technology. This will give token holders the dual benefit of Ethereum’s robust security and Pepe Unchained’s lightning quick speeds.
Its meme coin appeal combined with its layer-2 capabilities earned Pepe Unchained a shoutout on Crypto Gains, which is a YouTube channel with 135,000 subscribers.
Investors Flock To PEPU’s ICO For High Staking Rewards
Pepe Unchained has raised over $7.4 million through its ongoing presale. This strong momentum is likely being bolstered by the 263% annual staking yield that’s on offer to buyers at this early stage.
Another incredible milestone! We've raised $7M! 🎉🐸
The biggest advancement in meme coin tech is coming soon! pic.twitter.com/BkgRrpkQ8t
— Pepe Unchained (@pepe_unchained) August 3, 2024
To unlock these rewards, investors will need to acquire the token through the buy widget embedded on Pepe Unchained’s website.
Selling for $0.0089105, PEPU can be bought using either Ethereum (ETH), Tether (USDT), Binance Coin (BNB) or bank card.
Investors interested to join the project should buy soon because a price hike is coming in a little more than a day.
Buy PEPU on the official website here.
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